Tammy's journey to refinement and FREEDOM. GREAT THINGS ARE HERE!

Tammy's journey to refinement and FREEDOM. GREAT THINGS ARE HERE!

Hello,

My name is Tammy and I bought the Dean Graziosi books on my Thanksgiving vacation. I bought them in audio format as well because I am a stay at home mom to 4, and I homeschool them, so I don't get much of a chance to read these days!(Unless 'The B Book', 'Goodnight Moon', 'Skippy John Jones' and 'The BellyButton Book' count) My children are currently 2,4, 10 and 12. My husband is employed for the county and makes a decent salary, more in flexible benefits.

I have been a REI since 1997, but here I am in 2010 and I have 5 mortgages and my cash flow is pretty poor. I own 5 properties, rent out 3 of them, 1 is my primary home, and we just acquired a sweet divorce sale property in the California mountains. (100K below FMV!).

But, as we secured that sale on our 2nd home, we required a cosigner because of all our mortgages (4 first and one 2nd), and in the end, the bank didn't even WANT us on the loan, despite have a great credit score and proof positive of no vacancies since 1997!!! (Banks will only count 75% of any of your rental income when analyzing income, because they expect you to fail at it; even with 13 years of proven record) My in laws were gracious enough to be on the loan alone while we make all the payments and cover all the expenses. Its unofficially our first PML.

You see, we got traditional financing, secured and guaranteed all these homes ourselves. Our ratios for credit are bad due to having the 5 mortgages, and rental income, so no one wants to extend credit to us. I've never had any lates or collections, and pay on time, there is just a major credit crunch right now and banks unrealistically only counting 75% of our rent income, but 100% of our rent expenses. So now, with the economy the way it is, we were going to have to stop investing, in the BEST market we've ever seen to invest in. I just couldn't accept that and was determined to find something that will work.

After being told by at least 10 people we will not be able to invest in real estate any more, and being stubborn about not accepting that my business was dead, I flipped the channel and found Dean Graziosi. Timing couldn't have been more perfect! (I think God played a big role here, because I rarely watch tv, let alone late at night!) I quickly ordered the books profit From RE right now and Be a RE Millionaire. Smiling That is where I am and where I started.

I waited 3 months to start posting on this site from my initial sign up, didn't realize what a valuable resource I was missing! Stick around! Its invaluable!

**edited 5/16 to add Edge 2011 photos :P** (I wish I hadn't had surgery the Friday before as I'm still filled with whatever it is they fill you with, but I wasn't going to miss this event for anything! Laughing out loud)

**edited 1/24/2012 to add my video (recorded March/April 2011)

Here is the video link. http://www.deansmedia.com/play.php?vid=243 I hope it conveys some of the struggle as well as the triumph. This was recorded in March, so I've since done many deals; but it will have to wait for the 2012 video. Sticking out tongue

I have also started a new 2012 journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/99510/...

Hope all of you are turning your ideas into actions and making it HAPPEN! Do it NOW! Smiling

__________________

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Thank you for stopping by Valerie!

I can be long winded, but I hope there is some value to my posts to others besides me! Glad you found it entertaining! You will love the academy. Take advantage of calling them. Because I do the majority of my work late at night, they've already gone home, so I don't get to call them as often as possible. But, when I do leave messages they usually get back to me. I love talking to Diane there, she is so positive and uplifting, just like Dean is. Love talking to all the other coaches too! Its so wonderful knowing I can just hit my speed dial and talk to them! Smiling

The tech support for Proptrend finally got back to me last week and fixed my problem! This is great, I now have access again to areas up north!

It is CERTAIN we will SUCCEED!!!


FINALLY!

I got to watch the behind the scenes closed door DVD of the EDGE 10 videos and the first part of disk 1 with Dean. Smiling GOOD stuff! But, this is the GREAT part. My husband usurps the tv all the time. I don't watch the tv, because I'm working on training and REI and bills, and websites, and taxes, and etc., but he has exhausted ALL the programs he enjoys on the on demand, and he had NOTHING to watch. Oh boy, imagine that, so I suggested, let's watch the Edge videos. He watched intently, looking for things like a skeptic.

First question, how old is this guy anyways? (Trying to make him too young to know, right) Well, got him on that, he's the same age as Dean, so saying so would have said he's not old enough to have any knowledge. Eye-wink

Next, oh we already knew that (to some of the stuff), and after the whole behind the scenes. I told him, that's funny, how could you already know all that? I took 1 1/2 pages of teeny tiny written notes! LOL

Then we watched Dean's presentation and I asked what he thought, and he's opening up to it a little! Smiling Well, he said, 'we'll see', which means he'll watch more. Laughing out loud

Ok, I learned a lot, especially about finding that agent and cutting to the chase of it with that one sweet question Matt talked about.

NOw, at the end of that disk, it ends with Matt and Dean going into a bank and them redirecting them to be in the hot seat instead of them, but then its over!!! It didn't go into what they talked with the bank about, what questions they asked the bank, and if they ever ended up showing their financials to the bank. Going to put out a post about that now. Sticking out tongue

It is CERTAIN we will SUCCEED!


Talmadge

Wow, great info. I have so many questions! But, the first one is to Dean's company. It seems I got a defective disk. Sad It is cutting off parts of Talmadge's presentation as well as a good part of Rina's. Shocked. The disk isn't dirty (brank new, but checked just in case, and it appears to just be a defective disk.) I wanted to see Rina's presentation tonight so badly! AHHHHH! I will have to exercise patience! Sticking out tongue I've already waited about 3 weeks since receiving the disks, now I will just have to wait a little longer.

But, this is the exciting news. The second my hubby turned on the tv tonight, he wanted to see more of the Edge! Sticking out tongue GRRREEEEEAAAATTTT as Tony the Tiger would say!! However, 1/2 way through Talmadge he fell asleep. LOL (But, no, it isn't because Talmadge was boring!) He was just tired. He doesn't stay up much past 9pm before I start to hear the lulling (well at least it starts out that way before sounding like a dying engine trying to restart every few seconds) of his snoring.

Can't wait to see the rest of the videos. Even more, waiting until next May to go to the Edge is going to be an eager anticipation! Sticking out tongue

It is CERTAIN we will SUCCEED!!

God Bless RE, God Bless everyone reading! Going to bed early for church tomorrow morning. Smiling


After watching the closed session,

and hearing Matt Larson say that no matter what strategy you use, you should always be a wholesaler, I need to really concentrate on doing one of these. After reading how many times people have to show their properties, I wonder how I'm going to be able to do that. I guess I will have to deal with that problem when I come across it. No if, ands or buts about it. There is no getting around it, I have to do some wholesale deals so I know I can get quick cash when I need it.

I have a few properties I'm going to just go put offers in on and do it.

Next, I have to restart doing my yellow pad again. I gave up on it because it was taking me an hour and a half to rewrite it every day. It was wonderful to see all that I was getting done, but I was using all my free time to do that instead of getting things done. Well, now I am wasting more time by coming here too often in a day. I seek to be here to get away from naysayers in my life, to surround myself with people with the same mindset, but I think I'm doing it too much. So, I'm going to cut back my DG time and work more on doing my to do list (which I've always been terrible about doing anyhow), but if Matt can do it, so can I! He used to do the same thing I do, its all in my mind; I know what I have to do, but the benefits of writing it all out outweighs just doing what I have set in drive because it will give me more accountability. Back to basics!


Tammy

I am looking for some fast cash too, and instead of doing properties, I am going to wholesale lease options. Same kind of money doing assignments and no risk! Will let you know how it goes.

__________________

Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


Really?

Are you assigning to the end tenant buyers? If you are, I have 2 of them. One in GA, and one in CA. Smiling

It is CERTAIN we will SUCCEED!


Tammy,

I noticed your comment about the yellow pad. I remember Dean telling about that too. He said he just kept adding the next page for his list. When he finished all that was on each page, he removed it at that time. This way, you won't have to rewrite your to-do list every day. What do you think?
By the way, I like your new picture. I think I will copy your example and get one on here that shows my face as you have done. Thank you for your example.

__________________

Tim
Keep on Keeping On !!! Expect it, God has already given it to you. You just need to get out there and grab it!
If you want to follow my journal:
http://www.deangraziosi.com/real-estate-forums/investing-journals/33874

Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10


Tammy

I have often thought about sending you a PM concerning what you mentioned in your post on 10/3/10. I did not want you to think I was rude. I see it all the time here. People that say they only have x amount of time in a day to do business and clearly they are spending that time here!

Clearly, the time for you to take action 100% of your free time is NOW. You have the knowledge you need, you have gained experience from making some offers that were not right for you and did not work for misc. reasons.
I have said it many times that you need to buy at wholesale and put out the formula that works. We (investor/wholesalers) buy DISTRESSED properties that need rehab, not something that is all nice and pretty that we can sell to the owner/occupant. This is why so many people can't keep a realtor! They low ball on houses that will sell at FMV! They don't know which properties to do there 25/1 strategy on. They just pick 25!

This is your BUY formula: 65% of true ARV established by sold and SELLING comps. Minus rehab costs established by 3 (at first until you get one you know is accurate!) licensed contractors. That is your offer price, no more, no less! You then wholesale it at 70% of your true, established ARV, providing your rehab est! If you can provide these deals (the hardest part of this business) your buyers will be calling you!

To find these deals we offer on REOs, directly to distressed homeowners, whatever there situation, expired listings, absentee owners and are moving into probates. We only use a realtor on REOs!

Besides wholesaling, we do lease/purchase options also. Alot of people can't sell at 65% but if you bring them current and can make some cash flow that works! Alot of people are looking to lease purchase right now in the entry level market. We all know why. We got 40 tenant buyers on our list in 2 weeks!

Anyway Tammy, get out there, you WILL make it! Adapt to the strategies that are working consistently and are repeatable.

If I see a post from you that does not say I have a house under contract and here are the numbers I am going to HARASS you!! (just kidding!)

Good luck TAMMY !!!!!!

Michael Mangham
MD Home Acquisitions LLC

http://www.mdhomeacquisitions.com Seller site
http://www.mdhacq.com Seller site
http://www.mdhomea.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird dog, Door knocker site

__________________

Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


Hey Michael

Thanks for the post. I'm not really on here THAT often. I leave it on when I'm not even at my computer, or when I'm on my computer on other screens either doing something for homeschooling, looking up properties, manning my websites, posting on CL, answering emails, following up on leads, or researching stuff for my trust (which is monotonous right now!), or calling back sellers or buyers. Can't wait to get that first one done, then its just a matter of reusing it for all my properties!

I jump on here when I'm feeding the 2 year old (as I still feed her, to put it in a non offensive way), and at night to update my journal, and at other times when I am not able to be doing something else, or when I have to research something and use this site to find the info. I really am going nonstop throughout the day! But, this site can be a distraction for sure!

My husband watching the Edge event has been WONDERFUL! For the first time he is saying he will WATCH the kids so I can go to a REIA meeting! (this is a miracle in of itself) There is one tonight in Long Beach I'm going to try to attend! Having his support in my efforts and endeavors will make this incredibly easier to do!

Believe me, its exhausting with 4 young kids and homeschooling them! I don't ever get a break from kids, but I do try to escape it by coming here. I'm literally running around like a chicken with my head cut off much of the day. At least giving the youngest milk forces me to sit down for a while.

My biggest issue with wholesaling is that I have read that you have to show the property, which is nearly impossible with 4 kids with me. And, I've turned many people away by apologizing because my kids are making so much noise while I'm on the phone.

PS: I do have a house under contract already and it will be closing hopefully THIS week, if not next. Smiling The numbers are already listed on my journal, but I"m not going to list it on the MY DEALS until its closed. I've done that tooooo many times for them to fall through in the end. No doubt, others have learned from my mistakes (particularly the auction property). I've probably have been OVERLY cautious since then!

Today I started the day with my least favorite thing; calling the tenant in the property I'm closing on who hasn't sent the rent or sent me his written 60 day notice :/, and then contacting the owner I'm buying it from who has contacts there. I did not choose this tenant and its been very difficult working with him. Every time I call he's not available, I need to call back because the person answering the phone won't take the message, or they don't speak English. AARRRRRGGHHH!!


Tammy

No, not assigning to the end buyer, just putting the two together and keeping the option consideration as your fee. Don't have time to give details, will try and be on later.

Cathyb

__________________

Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


Bing Bam BOOM!

OK, this is another LONG post, but if you stick with it, you may think some of its funny. Sticking out tongue

At my husband's urging and insistence (YYYYYEEEEEESSSSSSS!!!!), on went the TV with the EDGE 10 DVDs!!! Just watched Matt Larson (watched Greg Murphy last night)! WOWEEEE! LOVED it! Such awesome information! And, I found out Talmadge Bell is at the Success Academy, so I will be calling in tomorrow.

I am so FIRED UP just watching the DVDs, I can imagine how it'll be when I'm there next year! And the best thing, my husband is ready to GET MOVING on this investing WITH me, and he's realized by hearing RANDY that taking 9 months to do a deal isn't the end of the world and has decided to give me a break about getting on me all the time for not being further ahead when I joined the academy 8 1/2 months ago!

Today I also put several more Craigslist ads out there, changed my voicemail message for my advertising, got one call and one website lead from the CL ads, got a PML from someone here on this site that I'm constructing an email for right now, found a million dollar property to bird dog hook up with an investor, posted ads here about that, put my lease option out on a few more sites, found a guy that will post all my lease options on 12 sites for $25 one time fee until they sell (I have to research him a little, has anyone tried this, but BOY, would that be a timesaver for $25????? I hope he checks out as legit and its not just a dream! I called and DG is sending in a replacement DVD 1 for my EDGE set.

Also, got ahold of the tenant by having the seller of the property call him (an unknown # to him as the seller had a property manager) and he picked up immediately, no screening of calls that time, isn't that funny?. The check is good ... and is in the mail (That 1st phrase always reminds me of I Love Lucy - THEE CHECCK ISSS GOOOD, (my favorite show of all time!). He isn't taking care of the lawn (as we had a neighbor go by), and he is basically at his store from morning until late at night, he just sleeps at the house. He will be moving out in the 60 days and keep giving his rent until the 21st of November and will allow me to show the property. So, I'm ready to do my 2nd deal and my first isn't even completely done yet. I'm getting a lot of Lease option leads in the area, so many that I will be calling a realtor in that area today (its past midnight here Eye-wink to help find a house and I will be scoping out more FSBOs, and find someone in the area that can go check out houses for me, take pictures, set up inspections, show the house, physically meet the buyer (if FSBO) etc. (If anyone is interested, its the Valdosta, GA area)

I'm calling on FSBOs for my partners in KY as well on and ongoing basis and have sent them an email to touch base.

For today, that's about it. I can see myself at the stage Matt is at already, where all the systems are in place and my time is leveraged!

Now, as I watched the presentation in the EDGE about the mastery level program, I'm thinking this is for me.

. . .
But, I'm also thinking, if Matt Larson came to my house with my 4 kids and all the adventures I go through with them on a daily basis, he'd be so distracted we might not get anything done. . . . Think of it; a bachelor with no kids enters into the culture shock of little gremlins who won't hesitate to crawl on him and tell him all about the time when..., and then bombards him with books for him to read them (oh how they just LOVE when company comes over, especially males for some reason!). All the while my older kids would start fighting over who said what, where, how and when about some crazy, unimportant thing that happened 3 weeks ago that has no significance whatsoever to remotely anything, and then have them chase one another around the room, only to have the younger kids join in thinking it s a fun game they're playing, and start screaming jolly-ly along with them as Matt tries to have a telephone conversation.

Later, as we get into a deep discussion, I can see being interrupted every couple of minutes with important questions such as 'what can I have to eat', 'Do I HAVE to read?, 'Kierra hit me', 'Can I change my underwear again?' 'Is my dress pretty?' .... I think the whole art of trying to do REI seriously with all the distractions around would come as an extreme shock if not hugely entertaining.

Just thinking about that scenario CRACKS me up! I think he'd leave here frazzled and worn out. We shall soon see. Laughing out loud Sticking out tongue (Matt, if you should ever read this by some small chance, please don't run and tell Dean 'NO WAY!, unhhh unhh... I'm not going there!')

(I'd probably have to try to coax the inlaws to watch them, but they usually can only take a few hours of it and they're pooped!) Sticking out tongue)


Dean's life on the EDGE 2010

I just watched Dean's presentation at the EDGE 2010 and he went into great detail about where he came from and what he overcame, and what he was (and is in his hometown) constantly surrounded by. This man amazes me, and I have the utmost of respect for him. He really speaks RIGHT from the heart, there's no BS, fake, falsified facade there... and Dean is someone I strive to be like.

In my future, I can see myself as 1/2 the person Dean is and will consider myself to be a complete success in life if I can get to that level. This journey we are all on here isn't just about REI, its about investing in ourselves; and its something I for one have not done too much of since I attended college in... @!)* (alien beings took over the keyboard there...).

I am SURROUNDED by people waiting with baited breathe for me to fail, and as I grow in confidence and overcome struggles and obstacles despite the direction I'm being told I'm going to go, I feel a latent, vibrant part of me being revived that's been hidden through years of negativity, downgrading and criticism, that I've allowed myself to believe because I kept hearing it so often. Losing my parents, and my last grandma last year, removed all the positive people I had in my immediate family that I had constant contact with. I hit an amazing low in my life that had left me spiraling downward until I got involved with Dean, the academy, this site, all the videos and training Dean offers, and I can look forward and I already know I'm going to overcome everything and I will be a successful REI. I can feel it, taste it, smell it, and see it in my mind. I owe that to Dean, and of course GOD for allowing someone like Dean to affect my life.

What hit me like a ton of bricks tonight did because of what Dean talks about in the last part of his wonderful talk on negotiating and being grateful. People embrace it when you are on their level, and if you're on a higher plane than them, they want you to be down on their level. They don't attribute success to working hard and taking enormous risk, they attribute it to luck, being dealt a good set of cards, or you being immensely stupid for doing something they wouldn't dare do. And, (I'm getting there...) where this relates in my life is the constant negativity and criticism; its meant to bring me down to that level. I am relieved to say that TODAY is the last day I let the negativity creep into my psyche and steal my glory. I'm going to be closing my first deal, and within 2 months my 2nd and I've got 3 others I'm working on. That's 5 deals... That's incredible for someone who was just told in January I would not be able to buy any more real estate again because its 'impossible' in this credit crunch economy.

Its all about perspective.... as I have had in my bio on this site from the start, but it has immensely more meaning to me now than then even; "Reality is nothing more than what your perception is." ~ Dean Graziosi. My perception has just been plowed open, and my reality is about to change forever.


Exciting news!

Well, I had been pursuing a house for months; even went to the owner's flower store after sending several letters without a response. No luck. It got taken over by the bank. Saw the person there when he was putting up the sign, he was just a sign person. So, he gave me the realtor's number a couple of weeks ago who will be listing it. I called him and they were not going to put it on the market or list it on the MLS because they have their own crew that fixes it up.

Fast forward a couple more weeks until today. I get a call from the realtor, because I left my name with him to show when it was all finished (no longer interested, but left my name and number anyways). Turns out the rehab crew did not show up and bailed on the bank. I am the only one who inquired about the property, and are willing to sell it to me unrehabbed. (This was the Wells Fargo one, I posted a thread in the main arena about Wells Fargo doing rehabs on all their properties.) I going to look at it today.

I have of course already done all my homework on this one and know exactly what I will offer on it. I looked in all the windows prior, its a cosmetic fixer. I already know what the prior owner owed and what the amount of the loan was, and my offer is less than that by several $10,000s. But, its still exciting. I'm going to look at it and put in my offer today. He said the bank is frustrated because this isn't the first time its happened to them. So, we'll see. This would be great, because I have 2 leads for retail buyers in that very city already, doing a lease option; or I could assign it. This may just be an experience, but it could end up in a deal. Laughing out loud


Tammy!

Good luck, hon! I can't wait to hear what happens Smiling

Lisa

__________________

"Persistence Pays, Procrastination Delays!" - smurfy

"I can do ALL things through Christ who strengthens me." - Philippians 4:13

"He will keep in perfect peace whose mind is stayed on thee" Isaiah 26:3

"Those who wait on the LORD Shall renew their strength; they shall mount up with wings like eagles, they shall run and not be weary, they shall walk and not faint." Isaiah 40:31

View my journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/59850/...


Saw the house

Offered 185K. It needs new bathrooms, a new kitchen, and flooring, as well as to be opened up, its very claustrophobic, and has the old setup where the washer is in the kitchen. So, with an ARV of 275, repairs of at least 30K, I offered 185K, told the agent the worst the asset manager could say is no, and reminded him that if this was an FHA loan, the bank will be getting 80% of the defaulted loan amount from the government in addition to what they sell it for. He started telling me all about the comps in the area, and I pulled out my comp sheet I'd made out before going over to the house. I really wanted to start out even lower at 172K, but I decided to put close to my bottom line first. Since I already have several lease option buyers for this area, I wouldn't need to rely on real estate commissions.

The numbers work out like this:
Cost Basis
3. Closing Cost (Typically 5% of Loan Amount)...$5,000.00
4. Cost of Renovation....$30,000.00
5. Cost of Escrow/Title*..$1,000.00
6. Home Inspector..........$300.00
7. Transfer Tax..........$1,000.00
8. Real-estate Commission @ 6% $18,240.00
(NOTE: I would resell this one myself, no realtor)Advertising or MLS fees $600
Holding Costs
9. Monthly Maintenance $-
10. Monthly Utilities $120.00
11. Monthly Mortgage Payments $2,300.00
12. Monthly Insurance Payments $150.00
12. Annual Property Tax (1.1 % of price paid) $3,344.00 (take only 2 months worth)

13. Number of Months Property Is Held Before Sale 2

Total Cost Basis $60,937.33

14. Desired Profit $15,000.00 (will be more with a lease option due to time value of money and offering property for FMV in 2-5 yrs time)

Calculated Maximum Offer for Property:...$174,583.67
or if No RE Commission for selling:......$192,223.67

I also followed up on several web site leads, a PML lead, and sent a hello letter to some of my power team to let them know I'm still working on establishing my RE business and looking forward to working with them.

I need to go spend a lot of time with my kids tomorrow. I'm going to make a couple of calls in the morning and then have a mostly non real estate day, but will try to get some RE in after daddy comes home.

Also, got a call from the listing realtor on a short sale I'm interested in pursuing for a friend of mine. He had changed his mind about buying a house, and now has changed it back again. This is one of those homes Matt talks about, an overlooked house that has gotten away. INCREDIBLY priced; so if even my friend flakes, I've found something that would be easy to wholesale or even keep and lease option.

It is CERTAIN we will SUCCEED!


Tammy

I just got updated on your progress. You sure have a lot of energy and gumption. You are really moving ahead and gaining experience. Your posts on the 5th and 6th really impressed me with your openness. I have some of those same feelings and thoughts. I have lost all my grandparents and my parents. I live here in Florida with my youngest daughter and my nearest siblings are in Texas and NY. Your post on the 7th outlining how your arrived at your offer price is helpful for everyone getting started on this site. I understand about using the time while feeding your child to view this website. I was given that same advantage when I was very young too.

__________________

Tim
Keep on Keeping On !!! Expect it, God has already given it to you. You just need to get out there and grab it!
If you want to follow my journal:
http://www.deangraziosi.com/real-estate-forums/investing-journals/33874

Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10


Continuing with the EDGE 10 series

and watching Carol get emotional, I cried! Yes, I admit it, she made me cry. To hear her say how she thought of herself before her success and after really hit me!

I didn't take notes this time because I don't have the controller (kids lost it somewhere, so I couldn't pause and rewind) so I will be watching it again. Posted my lease option in GA on a couple more sites (I have GOT to get my SFL system all set up!)

I called a couple of buyer leads today and talked with my partner in KY. Otherwise, I didn't do too much else RE. I've lost my voice so I sound pretty funny right now. Sticking out tongue

Gotta get to bed. Its 1:45 in the morning! **YAWN**


I was in tears yesterday, but the outcome was good

Got a letter yesterday from the IRS for my LLC saying I filed my taxes late this year. I had filed an extension in April and sent the taxes in on the 12th of September efiling them, so I knew they couldn't have been late. They said they never received the filing for the extension so I had 5 months of penalties!!!! Despite owing nothing and having a loss last year!

Called them up and they said, btw, your 2006 taxes weren't filed either and you will be getting a letter for late fes for that year as well (would be over 10K). But, that was when I had a CPA! I was literally in tears. I've spent countless hours building business credit and revamping the whole business and couldn't help but feel devastated. (2006 was also a loss with no tax liability).

For the 2009, for some reason they said the extension was a day late so it didn't count. I didn't send it certified as I should have. Found this out by calling in a second time.(They don't have efiling for extensions yet) (The first guy was an arse and of no help at all. The first guy was such an arse he told me they never received myxtension for last years (2009) taxes).

The second lady my husband talked to was a lot nicer and more understanding. The 2006, since we have never been late filing will be waived, THANK the LORD!, and the 2009 penalties will also be waived because the extension was filed. Now, for the 2006 I could SWEAR we paid the CPA for efiling. But apparently the CPA sent the taxes for us to mail in for this year (the other 2 they either sent in for us or efiled). Amazing because we haven't used them for the last 2 years they weren't willing to help with the 2006 situation. I do not even know HOW the heck this happened, as the CPA always took care of everything for us.

This was a huge scare, and thought I'd lost everything and all my properties would be getting liens on them. This is one of many reasons why putting properties into trust is so important. Even the IRS can't put a lien on a property in a trust because it wouldn't apppear to be an asset of the LLC.

But, this was a lesson to be learned. 1.) ALWAYS send taxes certified or efile them and the extensions (efile wasn't available this year for the LLC extension) 2.) The IRS will give you a one time chance to file your taxes late and waive all penalties, if you talk to the right people. 3.) TRY not to panic! Seeing this was the IRS, I thought it was ALL over, and I would need to start completely over. I was hysterical!

Thank the GOOD LORD and my husband (who was very quick to blame and criticize me for everything going wrong with the situation), but who was able to calmly talk on the phone without being in tears. I literally thought my LLC and all my efforts were done for!

Its times like these I wish I had a little bit of comforting and understanding, but he took it as an opportunity to stomp all over me. Sad He was worried because he's a limited partner in the LLC and would have to pay the penalties. My vision jumped around the 9 months of work down the drain and all the efforts I poured into the business. I am so thankful for him being able to work it out. I think now he may hear me when I tell him that I DO NOT want to do the taxes because even with TurboTax I really don't know what I'm doing. This whole situation just got him to give me the OK to hire a CPA!! YEEESSS! Time to start interviewing them! We will NOT be going back to our old CPA after the poor attitude they had about the 2006 taxes. (He's the one who suggested 'we' ahhhheemm (me)... do them on our own.


Tammy

Talk about a roller coaster. Whew. Glad things have worked out for the most part. It sometimes seems that spouses (either sex) forget they are part of
a team, and need to support one another. It is so easy to react and blame than to get behind and support. Why is that I wonder?

__________________

Cathy B

Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...


Tammy

You know I support you and I know you will succeed with your investing but HOLY COW!! You could have made 2 offers on REOs in the time it took to compose that post! Or added a wholesale buyer to your list. Prioritize!
Anyway just know that we are with you when life hands out it's little surprises. The sooner you get it done the sooner things like this won"t be a major issue! (I know, typical male)

Remember daily that you are awesome! No one, the IRS, negative people, Oba-mao, whoever can stop you!

Michael Mangham
MD Home Acquisitions LLC

http://www.mdhomeacquisitions Seller site
http://www.mdhomea.com Seller site
http://www.mdhacq.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird dog, Door knocker site
http://www.mdtfcam.com Transactional funds site

__________________

Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


hey tammy

just started reading yur journal and up to april,Ihad to skip to this last post as i need to get out the door this am.I very impressed with your attitude and determination.keep the faith and your spirit is addicting !!.I love your website,did you design yourself ?? cant wait to finish your journal.thanks for sharing all your day to day experience to learn from.I know how hard you work and juggle business as my wife has a daycare bus with 9 kids and some days are CRAAAAAAAAAAAAAAAAAAAZY !!!!!!!!
success to you tammy
jay

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need to sell ? http://www.jayhousebuyers.com
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Hey Tammy

I just read about your IRS woes. I would have been scared too. I am glad it worked out for you after all that effort and work. I am sure glad you have a husband that covers your back. I don't have a mate just now to fall back onto. I believe you are blessed to have one of your own. Keep on moving ahead. The IRS seems daunting and that is all we have ever heard, but I have found and heard from others that if you persist, they will work with you and come up with a good solution. Thank you for keeping us updated.

__________________

Tim
Keep on Keeping On !!! Expect it, God has already given it to you. You just need to get out there and grab it!
If you want to follow my journal:
http://www.deangraziosi.com/real-estate-forums/investing-journals/33874

Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10


The IRS! + Tim, Jay and Mike & short sale listing agents !

Yes, it definitely depends on who you talk to there! The first guy was straight by the book, heart attack, robot, mechanical speaking, and heartless contact. I was the unfortunate one to get a hold of THAT guy. My husband got a really sweet, nice, understanding, sympathetic lady.

As much as my husband does bring me down and rub things in any time I make a mistake, yes I am thankful to have a husband. It would help if he was a little bit understanding and positive though. He is negative about everything, its a very difficult environment to succeed in!

Jay, thank you for stopping by! I hope you enjoy all my daily struggles to get here to my first deal. Speaking of, you and Steve are the only 2 who noticed my Deal dance post!

Mike, I type very fast! I try to make sure to dedicate 5 minutes a day to keeping my journal updated as part of my journey. Did you know that people who keep journals are the most successful? So I decided back in March that I would keep this journal going no matter what was going on ; good or bad. I'm doing a lot of advertising right now.

Never heard back after making my cash offer on the Wells Fargo house I looked at. I can't really go any higher, so I'll keep on putting in offers until I get one! Now, why is it that short sale listing agents DON'T call back? They want their clients house to foreclose or something? I've been trying for 3 days now, leaving 6 messages and I am not getting any call back! I'm going to call and speak with his broker today, because that is completely unacceptable! (My luck, he's on vacation, but the receptionist told me he was not)


I've been networking

and building my buyer's list. Now, to go out and get the deals for the buyers!

I have called a listing realtor on a short sale now 8 (EIGHTTTT!) times in the past 5 days, and the guy does not call back. I have talked to the receptionist who gave me an incorrect cell #, who won't put me on his voicemail, was hesitant to give me the broker's name today! Isn't the listing agent supposed to be helping the seller to short sale their property? F R U S T R A T I N G !!!!!! Anyhow I have a cash buyer and this would be the ultimate house for him. (A friend of mine that I mentioned earlier in my journal). I also have 4 other shortsales that he likes. But, I have not done a short sale, and am getting literally no where with ANY of them! Barf!

I've networked with a bird dog to help me find a buyer for my FIRST DEAL (I have a thread on here about it called "MY FIRST DEAL. Doing the DEAL dance..." that hasn't had too much activity. I guess its not the most exciting deal, but still, I see the response on everyone else's deals and am wondering why it doesn't get as much attention! I thank the ones who have looked at the post and gave some words of encouragement. I called 39 gardeners, of which 6 were still in business. ONLY ONE called me back with a quote. Guess I'll go with them, because the other ones aren't reliable if they can't even call back with a quote. Jawdropping! Still looking for insurance on the property as well. Actually, it has insurance, but I need to find an insurance company comfortable with insuring a property in trust. Now, what confuses me is, that the property is still the same property, why is it such a big deal and confusion that its in a trust? GRRRRRRrrrr. (sorry, tiger in my coming out!).

I called DG to replace my 1st disk of the EDGE 2010 event. THEY SENT THE WHOLE PACKAGE again! WOW! I am impressed with their customer service that's for sure!

I made more copies of my buyers and seller forms as I managed to fill them all out. Been doing a lot of advertising and getting many calls! For the most part, people have been understanding of the kids, as I explain to them first thing that not only am I a REI, but I homeschool and have 4 children, and warn them upfront it could get loud.

Been driving around different routes to see if I can find another deal. Used the yellow paper technique to send to a couple of vacant properties. We'll see how it goes! I have a couple more web leads I need to print and file in my lead folder.

Going to also partner up in SoCal here with another investor with some rehabs under her belt so I can learn how the ropes go first hand. I don't mind sharing profits to have the benefit of experience with me! Laughing out loud. I am ready to take off and soar like an eagle. Only thing holding me back now is time! Wish there were 48 hours in a day! I'm going to go over my time management again and really refine it. I've been spending much less time here. (Have you noticed? Sticking out tongue) I've noticed many other regulars MIA as well. The whole site atmosphere seems to have shifted. Either they all have been recruited in the Inner Circle and I'm one of the only ones left, or everyone is busy doing deals.

It is CERTAIN we will SUCCEED!

PS: I started a twitter account! Follow me @ZionProperties Smiling


Tammy

I know what you mean about your deal thread. I have seen someone start a thread that says "I put in my first offer in" and the thread runs forever and the deal never closed.

Tammy just keep going you are doing a great job and your giving some much great information.

Gob Bless You and or Family.

Steve


I hear you about the offers being made

Made several offers that haven't gone through and posted them a few times, but this is a signed, sealed deal and this one's basically done. Smiling But, until its closed, I hear ya!

Got another one in the works. Someone wants to buy my land, but that's one that is only in the prospective stages! Hope it goes through!


Tammy

i hear lots of frustration, yet lots of success coming through. we all have days/weeks like that. this one has been tough here, but we will make it through. i am thankful for every day i still have my son here in the states and that is a huge blessing. i like how you make a call and let the other person know the situation with your kids. good idea. i will go look for your deal post right now. keep going. it will only get better. Smiling

__________________

Linda, Army EOD Mom
you can follow my journal at http://www.deangraziosi.com/real-estate-forums/investing-journals/45351/...
IT'S ALL GOOD AND EVERYTHING IS WORKING OUT PERFECTLY FOR ME!
Fear equals:
False
Evidence
Appearing
Real


contacting realtors

Tammy,

In the past when I contacted realtors of short sales, they would ask me if I had a realtor representing me; it seems that they are quite responsive to other realtors, so if you have any on your team, maybe you could have him/her contact the other realtor?

The Edge 10 is awesome-I did a weekend marathon when I received it a few weeks ago, and I think I'm ready for an encore presentation; I seem to pick up different things the second time I view/read things.
Still going strong with the Academy-as soon as I get home after work, I'm on it; so haven't had much time to read or write on the forums.
I'm working on my buyer's list too- did you get any from the SFL list? I'm wondering if there is a way to print them...

Well, I'm kind of a newbie myself, but after watching the Edge 10 and reading a lot of the journals, I feel like I know many of you, and I hope that I will become a DG success too.

Sounds like you're on your way-wishing you the best!
Valerie

__________________

Valerie

“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...


On A Lighter Note

Tammy ~

How do you get your SMILEY FACES to do things like:

1) vomit
2) burp
3) poke out tongues
4) change colors
5) react to their exorcism

I can only get mine to be yellow and smile, or be blue and wink !!!

I love how yours express themselves ...

~ Sherri


Cathy,

I've given that a lot of thought and listened to many others wiser than myself, and I think a lot of it stems from the fear of someone being jealous of the other becoming more successful than them, or feeling bad about themselves and wanting the other person to feel that same way.

Also, I find my husband will intentionally NOT do something because if something goes wrong, he can easily run from the responsibility and put the fault on me. For me to get a deal done in the adversity in my own home is a wonderful accomplishment, and my husband is going to either have to join me or keep trying to put me down despite making it all happen. I hope he chooses the first!

cathyb wrote:
Talk about a roller coaster. Whew. Glad things have worked out for the most part. It sometimes seems that spouses (either sex) forget they are part of
a team, and need to support one another. It is so easy to react and blame than to get behind and support. Why is that I wonder?