Alex Rubio from Houston Journal

Congratulations for starting your journal it is a great way to keep yourself accountable each day. The other great benefit is you can share your insight and knowledge with other DG Members. No matter what you share, is good because so many members can be going through the same thing and it is always good for members to relate and share their experiences. I look forward to reading about your future progress. You can do it! Good luck with real estate investing. Believe and Achieve! - Joe

This is the second time you post something in my profile and let me tell you it is always a pleasure to hear from you!! I know that if I can keep myself thinking about Real Estate and doing something about it I will have a shot to be succesful just like you Joe!!
Thank you again for taking the time to write in my journal Joe.. I appreciate you!

Alex Rubio from Houston

Yesterday I didn't go to work at the house but I went to my cousin's house to help him build a 20' X 16' storage at the back of the house. We didn't finish it but we got the foundation ready, since this coming few days is going to be cold and raining here in Houston we will go work at the house we are doing the rehab.
He is a General Contractor so he is the one that has been helping me do all this work and at the same time he is teaching me all the tricks of the trade (very nice of him). Along with the help of my brother we are doing the work ourselves (saving a lot of $) after regular work hours. So I think is only fair for me to help him withthis storage.
We will finish it this saturday hopfully, in the mean time today I will lay out tile inthe laundy room at the house while he finishes the cabinetry in the Kitchen....
We'll see how much we can accomplish today.....

This weekend even though it was in the 30's here in Houston, my cousing and I worked on the storage. Saturday we did the mayority of the work from laying the foundation to rasing 3 walls. Sunday we finished the last wall and all the roof.
Yesterday we didn;t do much but today we hope to finish most of it. This is not a for sale project or for rent neither but this is going to be the shop for building cabinets for our future deal so I see it as a big investment!!!

The storage is completed.... now the house !!
This week we put it on the market!!
First deal, here we go!!

I was exited to hear about the special for DG members but unfortunately I wont be able to make it due to some financial troubles..... even with the discount and the monthly payment I wont be able to afford the ticket to the event......I dont have that kind of money right now but it wont stop me from succiding!!
I will stay back and hit the REI hard....

For the people interested in Forclosure Porpertiers I have stumble accross a very god piece of information about the subject. It is a PDF mini book let me know if you are interested I can email it to you.. the intor says something like this....
Whether you are a seasoned investor or a first time buyer, this will give you valuable information
that will help you avoid costly mistakes when purchasing foreclosure properties.

So yesterday I get a call from a friend of mine saying that he talked to one of his friends that is willing to invest a significant amount of money into RE and he told him about me and what I'm doing. This friend of mine came to see the rehab and was impressed!!!
He knew i was doing the rehab but imagined that we where doing a poor job at the house. He was prooven wrong!!
Anyway I will me with the Investor today!!!
I will share the news tomorrow about how the meeting go and what will be our game plan.

I just received a phone call from my friend saying that the Investor requested to meet tomorrow because he wont be able to make it today, it is find with me as long as we still on. I have more time to prepare the meeting topics!!

Well the meeting went very well and the PI likes my ideas and proposal...
we have another meeting on Saturday night to discuss the amount of money he will be investing with us!!
I think that is very good news!!
I have my realtor informed already and he is looking for bargains as we speak, he knows what I'm trying to do and is willing to help me so ....
looking forward to this coming weeks!!

02-24-10

The good news is that the mortgage broker told me that the potential buyer's information looks pretty good (credit wise) but needs a bit more income... I got in contact with the buyer and asked if they had a co-signer to be able to get them into an FHA. The buyer sent that information to the mortgage broker and she is working on it today.... hopefully we get some good news soon.

The bad news (well not really bad but not great either) is that the Private Investor (PI) met with me saturday but told me he had doubts and that he wanted to meet with his lawyer to discuss the proposal... so 50 - 50 chance he will invest with me. This wont stop me, yesterday my realtor called me and said if I wanted to go with him to meet another investor so we went and it went well but nothing concrete yet......

The buyer for the house didn't qualify for a FHA Loan.... Now we have to try another buyer.... the Mortgage brocker is working on that but no news yet!
In between all, I called the investor and he said he had made up his mind and he will meet me on Thurday or Friday one of those days. I don't want to get all excited ahead of time so we'll see what happens in the next couple of days.
I have also contacted a few hard money lenders to finance a few forclosures I have been looking at so we'll see about that too...

I'm here in Houston. Took a hiatus due to baby. I'm thinking about getting things together find properties here. I'm noticing a lot of the houses in my neighborhood going up for sale and then seeing that there are new houses being built at the front of the neighborhood. This may be a good time to grab something.

What part of town you live in?
Hey don't worry I hope your baby is doing great..... definately the best time to do this is now. the opportunity is there and we need to grab a piece of the pie!!
Take care and good luck in your future deals!!

I have to me it a habit to write something on my journal everyday...
I am one of the lucky ones that had a chance to buy the Set for Life Automation System and so far I think is awesome....
I am sure that something is going to happen soon for me in REI.....

This is a bad habit but i am getting better at it.
Todays comment:
Last night i received a lead of another buyer but he only left his email address. I sent him an email to find out what type of properties he is looking for.

About an hour ago I got a lead of a seller.. he is selling his house for $13,000 so this might be a potential rehab... i will contact him after I get out of work to find out the details.

This leads are coming from my marketing straigt to the SFL Automation System
I think this was a very good investment

Still looking for a buyer for the house that I have under contract.

After seeing your post in my journal I had to stop by your journal. I'm glad to hear that you're rehab turned out awesome! Did you take before and after photos? Best of luck with the house you have under contract! I look forward to hearing how this progresses.

Lea

Hi Alex,
I'm actually in Seabrook and have just recently obtained Dean's books and also joined the success academy. I'm not entirely new to real estate though, my husband and I have 3 rental properties from way back. Keep up the good work and I'm sure it will pay off! You are the first person that I've found in this system that is from Houston. I can't believe how the market has changed here. There are so many foreclosures and houses just sitting on the market for sale. I'm trying to do the "assignment of contract" phase of Dean's programs. I'm a slow starter though because I have to have all my ducks in a row! Once again good luck! ( I think I will start my own journal, this is pretty cool!)

Annette Baker

Glad to have you in the same team.... the DG Team!!!
I am glad you got the book... don't do the same mistake I did..... not take action right away when i read the book.
Take care and hope we can work together on some deals in the future.
Good luck

I had a blast this weekend learnig about someting big that will take me to the next level in REI.....
I will post my progress as I reveal what that is....