RINA'S Daily Journal: Chapter Two - The SECOND $1M

Oh my gosh you'll be in FL next Fri, let us know what day/time would work for you. I can't wait to meet you

Thanks for explaining about the refi, sorry I misunderstood. I'm glad you'll be getting a BIG chunk of cash next week.

Isn't it exciting about Richie & us working together? It's been a pleasure to talk to him.

See you soon.

Your friend,
Lea
SPR Property Solutions, LLC

Can't wait to meet you either! And yes, SOO exciting you guys working together!

On the refi deal. No regrets here! Big chunks of cash are nice, but a free property w $20K instant equity and $400mo cash-flow is stupendous. .
BOTH? Priceless! (I love this game)

Talk to ya soon!

Rina

Hey Rina.

Been a long time since I posted on here...the year of licensing and becoming a "Realtor" in two states just sort of consumed me.

I have to say to you though, Wow!! Congrats on all your developments of late..you are REALLY setting the world on fire!

Looks like you are going to nearby soon..is it next week? Love to meet you if it fits in your schedule. I know it can be hectic when you are only gone for so long. Anyways, let me know if you think it's feasible as next week is actually pretty good.

Talk to you soon!

P.S. I started a journal on here too today..check it out if you get a second..I can share a few things from the "licensed" side and at the same time stay focused and accountable as I have some new goals..

http://www.deangraziosi.com/real-estate-forums/investing-journals/43645/...

Good to have you back Thanks for the congrats! It's been fun!

Got to read your journal start tonight. Awesome! (hope this means you'll be around more. Missed you. ) You've experienced a LOT in the last year! Look forward to hearing more!

Yes, I will let you and Lea know for sure when I will be in the area. I look forward to meeting you guys. Been a long time coming.

Have a great night, Kate.
Talk soon,

Rina

Sounds like you have that trip to Fla. planned! I'm so glad- you deserve a vaca...but of course we allknow you're gonna be doing RE probably the whole time lol...
gotta ask....do you think the snow will be melted when I get out there? I have to make sure the truck will be able to get to the house before they arrive, which could be as soon as the day after me.
I just realized I will be arriving on Easter sunday! How appropriate - because this is like my own rebirth and start of a new life!! How cool is that!
love ya sista....have fun in the sun

Hey, girlfriend! You know, the snow has been melting like crazy the last few days! Incredibly, it just MIGHT be nearly gone when you arrive! but the driveway is good either way. No problem for the truck.

That's so cool you'll be arriving on Easter. God is good.

Well, closing on the flip house went great yesterday. Buyer is all excited to get another ASAP, and decided he wants SIX more instead of five. (hehe, little does he know, he REALLY wants ten. lol)

Amy's got some awesome stuff going in Tulsa. (Got a call from her this morning that brought up a question I hadn't thought of before, about "and/or assignees" being on the deed? Upon thinking about it, and talking to another investor, it is best to have it in only a specific name. That was a good question though.)

VERY excited to be meeting up with an asset manager this week, along with one of my big-time Investing associates up here. 6-condo building right on Lake Superior, along with a Marina and possibly some other assets going to sheriff's sale. Happened to be talking to the attorney representing last week, and he said the judgement amount is just $1.1Million, BUT the bank is SOOO ready to get rid of this that they would look at any offer on either buying the note or on the property itself. (Note that the agent trying to sell it has it listed at $250K PER condo, and marina isn't even part of the package). Sounds like the investor who built these kept putting more of his assets up for collateral, but ran out of time and money before the note was called. Now I do not have even $500K cash, BUT you never know what we might work out with the bank, AND if the deal is good enough I KNOW the money will be there. There could be other legal complications in this case, but either way it will be a learning experience, and you just never know what might come of something. Just have to pursue it to find out. (EXCITING!)

Not sure about the lake property I went to look at on Saturday. It's sort of an out-of-the-way area, and hard to get comps, nothing selling up there. BUT the seller is motivated and will seller-finance. I haven't made an offer yet. I think I'm a little chicken cause I feel unsure about it. Hmm... guess I better make up my mind what I'm gonna do and make a move.

Agggghhhhh.... might have to put FL on hold til next week! My husband has a whole list of stuff he wants me to do. There again, better make up my mind and DO IT. (OK, OFF the computer now, Rina. you're procrastinating. )

Hope everyone has a GREAATT day!!!!

Rina

Hey my friend, I would say go with your first gut feeling on the lake front property. you have so much going ,that in my opinion if your not sure of it you don't need to chance it because of so many other deals in your sights.
congrats on the newest flip closing.( geez ive been saying that alot to you lately
That is a good thing
speaking of snow, I just had to hoof it 1 mile in 3ft of snow with my daughter this w/e up hill through the mountains to make it to the house. 2 hrs to make it there,exausted!thank goodness for snow mobiles after we made it there. long story
talk to ya soon Rina.
Richie.

Congratulations on your closing on the flip house! And the 10 more you'll be getting for your buyer

WOW! How exciting about the 6 condo's with the Marina's and Sheriff's sale! I'm looking so forward to hearing about how this goes.

About your FL trip, I'll be here whenever you arrive

Your friend,
Lea
SPR Property Solutions, LLC

I love reading your journal and seeing your progress from beginning to end. Thanks for letting us take the journey with you.

.

I would definitely continue to look into it. Waterfront property is always desirable and will eventually bring a huge premium again. The waterfront property down here did not take near the hit as other properties so if you can pick them up that cheap, you should eventually cash in big time.

I sent you a PM to see if we can work out details of when to meet.

Lea..my first sale in Florida was on Hutchinson Island..right near you huh? I think I got to know that Island as well as any of the local agents there in a couple months so I could appropriately serve my best friends. It was sort of gutsy of me to go outside of my Board on my first sale (and was told I probably should not) but I did. It was interesting..I would only do that again under the right circumstances but it paid off ok and pushed me to expedite my plan. I hope to meet you as well when Rina comes!

Have a great day everyone!

Kate

Kate, yes Hutchinson Island is not far from us (about 30 mins away.) We have 'snowbird' friends there. It would be great to meet you too when Rina is in FL.

Rina, It will be wonderful to get to meet you and Kate! It will be so exciting for me to meet 2 experienced investors like yourselves!

Lea
SPR Property Solutions, LLC

You are on FIRE! I'm gonna start eating my wheaties right now to keep up with you Love the big condo/marina deal you are looking at - you keep your dreams big and your doors open and thats why you accomplish SO much! You are super amazing

Richie - Ohhhh.. That almost set it as a challenge in my head. Hmmm.. When I feel like something might be good, I have a hard time letting go. I am going to talk a little more about it with my MN investor today. He did some research for me (he lives over that way).
I'm glad you had a fun time with your daughter. (Even if you had to walk 10 miles in a blizzard uphill both ways. LOL). Daughters REALLY need their dads involved in their lives. That's so cool that you made a special trip because she wanted to go. I have a lot of respect for you, friend.
Got my last two refis set for next week. Then I'll be ready to start fresh when Laura gets here (but I do have to be buying for my 6-deal guy in the meantime. )
Talk soon!

Regina ~ Thank you! I love sharing. REI just keeps getting more exciting every day. I sure hope everyone can see by doing just a little (or a lot. lol) every day, things just keep expanding and getting better! Reminds me of the tortoise and the hare story Louisa shared. Thanks again for stopping by and for the kind words.

Kate & Lea ~ It's official. I leave next Friday. So if we could set something up for Mon or Tues of the following week, that would be great! (Can you guys set up a meeting and then let me know. I'm game for whatever!) Kate, I would love to see your condo.

Laura ~ LOL, I'll put a big box of Wheaties in your new kitchen for us to share when you get here (along with our coffee and hot chocolate). Everyone is excited to meet you! (Jon is especially looking forward to our cat meeting yours. lol). Mary is all prepped to add you to the SSB Family as soon as you arrive! (And I've got a few hot prospects for ya! ) We will keep our dreams big, sista, and share them with the DG Family as they come true! Love ya!!

me
xoxoxooxox

Well, yesterday I met my new property manager (one of the brothers that own the company) for the first time. REALLY nice guy. They have owned properties and businesses in the area for 3-4 generations and are very well-respected. They currently own 600+ units of subsidized housing, (having sold off over 400 units of private holdings in the past several years, choosing to get out of those). We talked about the opportunities there are right now for buy & holds. He said it is tempting to get back in, but they decided against it, as they feel they would be competing with the clients they now serve as property managers and Realtors. And all of their businesses are thriving (they own an electric outfit, realty office, management co., among I'm sure many other business endeavors).

It was great to talk to him. He has personal friends on the Boards at most of the local banks (including mine), and LOTS of connections (not to mention $). Gave me some great leads of where to go next when I max out my $1.8MM limit on mortgages at SSB. Also he reminded me that no matter how much a person has, we are really just a number to the bank and the government when it comes down to the bottom line. LOL. Well, that's true, but I'll still build my relationships because I know it's a person choosing how much effort they'll put into making things work for you. Wants to meet again today to show me some of the work his rehab guys do. Showed me one place yesterday. They can have a property ready in as little as three days to rent out. I have to say I'm impressed, and will likely be adding them to my team, and get multiple rehabs going at a time.

My MN investor is coming into town today so I'll take him with me to see the property.

Also (so excited!) we are meeting with the asset manager about the condos and marina at 4pm. And before that I'm introducing him to my gal at SSB (he wants to start the purchase/refi system I have perfected. til now he has not liked using the banks unless he HAS to.)

The asset manager sounds like a young new guy. Actually the person handling the case (is that the right word?) was an older gentleman who retired just last week, so I spoke first with a gal that supposedly had the file, and then to this younger guy who sounded, I'm not sure if it was eager or unsure. Hopefully he'll have all the info we need. It will be fun anyway, and I'll have him put me on his list to call about any new REOs the bank brings in.

Got some other interesting REI stuff planned (including checking out a spooky duplex!). It will be a fun day.

Will update later!

Rina

wow,all i can say is wow,marina owner.hey everybody,looks like rina's setting up a dg family resort lol,rob

Congrats on the flip house! I like Rob's idea, that or the island! Good Luck with that new venture...You just keep going & going, like the Energizer bunny! (Good Luck Laura, I hope the Wheaties help!)

I'm looking forward to the Dell trip too, anytime is good for me. (I told Laura she should come with, of course!) I just hope you can find the time for little 'ol me.

Love Ya Sis!

Dawn

i admire your non stop determination to turn deals !! when i finally can put in the time i want to learn and implement your strategy purchase/refi. i cant wait to meet you at the edge.I will be paying attention every minute at attendance!!! its great to work with you and hope to continue to share in your success!! you are a tremendous inspiration to me and many on this site.
I am currently actively building my resources to be a bigger part of your journey to be a millionairre !!!!! dont stop !!!! i will be joining you at the top !!

jay

i want an end unit lol,rob

Rina, I am so happy for you and Laura and the wonderful partnership you both have formed. There is no stopping you all now. Congratulations on all your deals, refis, farm purchase and flips. You are indeed a mentor to all of us. Like everyone else commented, I cannot wait to meet you in person. I see you will be in Florida soon, soaking up in the great sunshine. Have a great vacation or business trip. Hope all three of you have a joyful time together. Have a wonderful weekend and God Bless.

Sandra

Hey Girly!

You amaze me! You are such an inspiration to us all! I just love reading your journal about all the AWESOME, FUN things that have transpired for you in your journey. I want to thank you for all your sharing and the wealth of knowledge and ideas that you give us at DG.com.

I can't tell you how much your journal and messages have kept me going and kept me in the game. Whenever I feel like giving up, I read some of your journal which keeps me motivated to keep on going My bills are paid thru the end of March and that's it (yikes!) BUT I have 2 offers out and can't wait to post my first completed deal!!!! Soooooo keeping my fingers crossed right now I know it will work out...onward and upward Take care Rina and have a GREAT time in FL

Robin

You're amazing woman Rina, you rocked! You and Laura will make a great team and i'm so happy for you both.

Lloyd

Just stop to say HI, I always keep up with your post. Start posting. HA HA I am sure ready for our hot air balloon ride. I don't think its going to ever get here.

Randy

I posted this in another forum but it truly belongs here for sure.

Thanks Rina! Your Awesome. Stan

Go here to see the original posting:
http://www.deangraziosi.com/real-estate-forums/everything-else/44787/uhm...

Thanks everyone and I already thanked Dean. But I forgot someone very special. The day after I ordered Deans books I read Rina's success story front to back.

btw Rina, how cool to see you in the book.

This is an unbelievable success and from my perspective. So unbelievably cool because to her it was two years of her life. To me, I read the whole thing in one afternoon. I WANTED TO BE LIKE RINA!

Her story, before the books ever got here were so inspiring. To anyone that does not have Deans books and might be thinking about getting them, read both these journals. E-nuff said.

Stan

alright rina,where you hidin and what's up with the lack of posts?you know we need your posts for our inspiration.keep moving forward,rob

Hey all you Rina fans
I know she is on a much deserved vacation...and since she hasnt been on DG.com it means there is NO computer ha....you all know she is as addicted to posting as we are to reading them So fear not - she'll be back!!!!

Thats funny Laura I can picture her going through the DG shakes lol.
She definately deserves a break. besides she will need to gear up for the edge soon.so rest now is good.

Hahaha...i like the fact that Laura already updated everyone of your whereabout Rina...Good looking out Laura! I told you two you guys would make a great team! ...hahah. Enjoy your vacation Rina and don't rush back too soon, oh wait, just come back just in time Laura arrives in Wisconsin...hehe Love you ladies!

Lloyd

Or is everyone having Rina withdrawls????