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

Tammy,
Very nice comments about networking. I've got a ways to go but I'm getting there! Yes, DG is a great family and a lot of people to network with! Man, I really must find a way to use my academy contacts more too. I can hear Randy's voice ringing in my ear on that topic from the EDGE event.

Regards,

Roger

Tammy,

I like what you're doing regarding the rei networking group- what does BNI stand for?
You are so right about the power of networking-rei is something we can not accomplish on our own...

I hope your auction goes well. I wanted to attend one that took place for a triplex nearby, but it was doing working hours, so couldn't make it...
Would like to hear more about yours...keep us posted!

wishing you great success,

Valerie

to the main board, but want to put it in my journal. Many of my preliminary attempts at deals aren't in my journal to look back on (they're elsewhere on the board), so I want this one to be in here.

I've been busy prepping my house for the auction. A LOT of work, which is why I've been pretty quiet. And, in talking with a facebook friend, have yet another deal I'm pursuing below
---------------------------------------------------------------------------

About to try something TOTALLY new to me. (again) This is all preliminary. Buying a NPN b4 auction

I am so excited, I can't sleep. REI makes me so passionate! I have a seller. I have the buyer FOR the particular property the seller has. Seller is giving up on the home; wants NOTHING to do with it. Doesn't even want to short sale it!

So, I thought of something Dean told us about at the EDGE. I'm going to pursue the NPN (non performing note). She's in default. The loan is about $200K. I'm going to offer $20-50K and try to negotiate with the noteholder. But, I have so many questions because I haven't done this before!!! The ARV is 160K, it needs about 25K in work. I plan to sell it for $100-120K if all goes well.

1. My seller is willing to do a deed in lieu of foreclosure if I hold the note. Smiling (but not for the bank because they've been so bad to her. ( Taxes are current; no other liens.)
2. The buyer is ready to purchase it now.
3. Can I do cash for keys to have the property quit claimed deeded to me once I get the note? (that way the seller will also get something out of the deal)
4. Can I make it so the foreclosure doesn't record on her credit?
5. How do I get to the actual NOTEHOLDER, (not the loan servicer or bank it SEEMS to be with, but the actual holder of the note?)
6. What am I missing here? There has to be SOMETHING!

Tomorrow's Sunday (actually today is, its 2:30 in the morning LOL), so I can't make any calls. Its going to kill me not being able to take action right away. The SA isn't there and the banks are closed. Any preliminary advice anyone out there who buys notes?

you are amazing. i don't know how you do it.

Keep it up!

Boy,I've been so crazy busy. My hubby and I have cleaned our entire house. Boy, living with 4 kids in a 3700 square foot house you'd be AMAZED at the amount of stuff that's out at any one given time, but over 7 years... WOW! That was A LOT of work for the past 4 days!

I had professional pictures taken today for the auction. I'm doing this through a realtor who has the whole system set up to a T. Its not the type of auction *I* would do, but for time purposes I'm trying them. If it works out well, I will use them for other properties in the future. At least I'll have a good seller's realtor contact. He is also an investor and I'm going to talk to him more about some hard money he's using.

I am also diligently working on buying the note for the seller who's completely given up and doesn't care what happens to her house, still working on the Evansville properties (decided not to purchase the 4plex because of the hoops to try to get the foundation fixed (I was getting nowhere with it with companies in the area), but he would not sell the duplex w/o the 4 plex. He will now sell me the duplex, but at a much higher price than the 18K. I have to redo the numbers and see if it makes sense to do (Still well below market value though)), still pursuing 2 rehabs here (the one with the agent and another one). Have called many new HMLers, not with much luck on any better deal than I already have). I'm still looking for someone to do a mutual PML with our IRAs. Its really a pretty safe bet when you look at it, but its a scary thing for people to do.

STILL going back and forth trying to refi out of my HML. This is the PITS man. Good credit is good for NOTHING today. It royally SUCKS! Banks used to beg me for their business. Now they shun me like the plague. This is really AWFUL! But, I have a couple of portfolio lenders. It LOOKS good, but all my other loans have been approved and fall out after the SECOND underwriting/closing team looks at them on the day the docs are going to be drawn. 3 no s now, 1 step closer to that YES I'm looking for!

OK, now I have to type up my lesson plans that I have put off. 3 months worth of them. I will be doing an all nighter tonight. Sleep is overrated though, right?

I appreciate you stopping by and reading my lengthy posts! ONE of these deals HAS to go through.

I forgot, I'm also working on the deal for AZ, but its coming along slower than anticipated because I've been so busy with life and all the other things going on. WILD indeed!

WOW,u certainly r using EVERY minute to your advantage...this is what dean means when he says there r 24 he's in the day and the difference between who succeeds and who doesn't is what WE do with those he's.....u r doing what it takes to be successful ...its not easy and not everyone will do it ...but YOU ARE......congratulations
Jay

Ps. Would be interested to know who has multpl accts and to be aware of .....thanks

That's amazing. I remember just starting my journal here!

Well, I've had a busy couple of days. I talked to several banks and think I have found one that can do my loan; not just a stated where I can't get any money out, but a CASH OUT REFI! I *PRAY* this is the real thing and this will be the final one. 4th time... 3 nos, means 1 step closer to a "YES!!"

I've contacted the bank about buying the note, they still have to 'input the authorization' into the system. I am really thinking I'm onto something with this notebuying thing. If I learn all the steps to do this, I see a future in pursuing underwater properties; which is the majority of homes here.

I updated my 1003 and sent it in for yet another go... also have 3 other options on the backburner should this not pan out.

I've talked to the SA 3 times today, and I might have a buyer for Mike's deal. Crossing fingers on that one!

Contacted one of the speakers at the EDGE event and touched base with him.

Got all my personal pictures of the view to our house for the auction.

You are the total inspiration! You're kicking some butt! Thanks for coming by my journal! It was great to get to meet you, your wife and son at the EDGE!

Wow Tammy:
I come to your journal every evening to see what is happening with you and there is never just one post, but several at all times of day and night. You must be related to that bunny with the batteries that keeps going and going.

I am very interested to see you succeed with your note buying deal. Is the authorization letter you got the seller to sign in Dean's forms on this site?

The coyotes are loud here tonight, good luck with your many transactions, I will be back by your journal tomorrow.

Judi

Where are you at? The coyotes are a howling along with the owls hooting tonight here too.

Here I leave this place for five minutes and Tammy is killing another deal! lol

cleaning up the house for the auction THIS weekend! (Showings will be from 11am to 4pm on Saturday and then there will be an additional showing from 7:30pm to 9pm to see the night viewing). Boy, that time went VERY fast! I've gotten to interview another 15 contractors and found 3 that are very promising to use whenever I get my next fix and flip. The one I was pursuing with the agent just went under contract again today, so I lost out on that one, but I need to have $58K upfront for the hard money lenders and I couldn't refi out of my other HML yet, so I couldn't pull any of the $130K of equity I have sitting in there out. There will be a YES here one day though, each 'no' is a step closer. I just have to work quickly though as I only have 5 months left on the HML.

I have another meeting with my CPA today and should have my statements to take to the small bank I walked into several months ago with everything they need. This is a true small bank; 2 branches and very community oriented and they liked what I was doing locally, so it was very promising.

I've called probably close to 25 banks now with the checklist of ?s. So many portfolio lenders say they don't sell their loans, but when it comes down to it they want to have that option available just in case; so that is what has killed my last 3 attempts at refiing (1st attempt was a backway under to GMAC and we missed their ratio by 2%)totaling 4 attempts. As long as there are extra underlays the banks require, we don't qualify because they don't count all our income. I vented on one of the banking posts about regulations 'tightening' up again because hearing about the mainstream banks makes me sick. . Its comical satire if you want to go read it. http://www.deangraziosi.com/content/rules-changes-may-shut-out-more-futu...

The listing of my house that goes to auction this Saturday is up. Check it out here!

http://www.redfin.com/CA/La-Habra-Heights/2730-Casalero-Dr-90631/home/78...

This is where I call home. Got to blast it out to everyone now! I have to tell the agent to fix some things. Its actually a 5 bedroom 3 bath and 3720 square feet.

It looks fabulous. Very Californian. All that white! how do you keep it clean with the kids? Hope Sat. goes REALLY well for you all. Cant wait to hear how it turns out. Good Luck.

Cathyb

that is a steal in cali,north or south

http://socallistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4Photos/P...

I had the listing all fixed! Cathy, it is that lifetime texture on the outside of the house. We spray it down every six months with some great stuff we found at Sam's Club. Whether it turns out or not, its an experience. I'm hoping for the best, but if it doesn't go high enough, I won't sell it. But, if (WHEN ) it does sell, I will be pursuing some of my first short sales.

Silas, that is the starting bid; its the teaser that brings everyone in. But, it looks very enticing, doesn't it?

Been blasting this listing all over FB and linkedIn and email all my contacts as well as every realtor in the area, surrounding area, or any community or city that is similar to our city. (Rural in the middle of a concrete jungle. )

Tammy

Such a beautiful house and I am so impressed, when you said you cleaned - the place looks like there are no kids living there (or they pick up their toys all the time). It is a beautiful house, don't sell unless you get the price you want. And if you do get the price then all the Californians can come down and throw you a moving party - great house for a farewell party - what views at sunset.

Has that deal with the non performing note taken off yet? I am just finishing up the last flip house I bought in Merced. I hope to sell it myself with out going through realtor since profit margin is so much smaller with realtor. I have put in lots of offers trying to find multiunit properties to do my first buy and hold. No offers accepted yet. Still interested in buying in Mariposa so I can be a landlord to the many National Park employees needing rentals. The house I just sold in Merced was just bought by parents of a young man that is starting as a freshman at UC Merced in August. The university is growing, maybe that could be a market niche to get parents to buy a house for their kids to live in while attending school.

Anyway, don't work too hard and let us know how the auction goes. Do you have to leave during the open house and is the auction right on site?

Judi

Tammy,

The house looks nice. Good luck Saturday.

Cheryl

Thanks for keeping up on my progress.

Judi, I have not called the bank this week because I'm going crazy trying to get the house ready AND redoing all the work of the mess the kids create. I could NEVER list a house and have it ready for a showing on a dime's notice. It just wouldn't work. This is STRESSFUL! I only have to keep it clean for 2 weeks and I'm a basket case trying to maintain AND get the remaining stuff completed before the big day.

I will be calling the bank AFTER the auction. Its put on hold a week; knowing they don't have it set up for the chopping block, so to speak, gives me a lot more time. I also told my sellers to try for modification again, and when I told them the modifications go as low as 2% it wouldn't hurt for them to try the modification again and be very on top of everything they need. So, if it doesn't work with that house, I will try with another. That house happens to be a good friend of mine's and she didn't come to me earlier. I *THINK* I have her convinced to try again and to be very thorough with her paperwork and information to them.

ULLLGGGHHHHHHHHHHHHH!!! We just had all the carpets cleaned the kids let the dog in the house with dirty paws. It ran ALL over the house. How do people do this? AHHHHHHHHHHHHHHHHHHHHHHHHH!

I am so sick of being put down and told everything I do isn't good enough and being blamed for everything. I have to sit down and fight with what I tell myself and what is CONSTANTLY shoved down my throat by someone who believe ANYTHING I do is not good enough and that EVERYTHING that goes wrong is my fault and anything that goes right is all because of him. I just can't take it anymore; I'm sitting here in tears and can't get myself going after my last verbal barage of blaming because if everything doesn't get done on time its 100% my fault. A little upset posting under tears and need some pick me up. hlep.

Just remember there is a higher power watching over you, one that knows your heart and when he is glorified in your success you will prosper. Remember to honor him and give to the needy, your church, etc. Remember, it's his money anyway. When I do a deal 10% comes right off the top and goes to my church. I do this with joy in my heart and the lord has honored me for doing so.

This situation with your husband, does it come from the lord or the enemy? You know the answer. The enemy wants to kill, steal and destroy!! Its not the person, it is the enemy. Pray for him.

Like I have always said Tammy, You will make it in this business, there is no doubt about it. We WILL do a deal here in Colorado that will be fast with a nice ROI for you I promise. Looking daily for the right one, it will come!
In the mean time keep doing what you are doing and trust in the lord!!

Michael Mangham
MD Home Acquisitions LLC

you are doing great! I don't check your journal for a couple of days, and when I come back I feel like you've fast forward two months!!!

I have a doggie whom my someone takes out to the park to play in the creek, and then lets it come into the house with more than muddy paws, so I feel your pain!!

I can't believe how nice you have your house looking- wishing you success with your auction! hang in there!

Valerie

What a great entry. Encouraged me too.

It is okay to cry, I did when I read your post about your husband. I can tell the stress is phenomenal, dogs, small kids, trying to keep a huge house clean for an open house and the person that should be the most supportive of you nit picking.

Well, Saturday will come and go and two weeks will go fast too. Hang in there kid, there are many of us rooting for you. Think of the thing that makes you calm and smile just by thinking about it, take a nice bubble bath or whatever you need to do.

Looking forward to checking in soon to see how it goes.

Take some wine or tea or whatever out and enjoy your view from that beautiful patio in the photos.

Take care of yourself

Judi

Wow, your house is beautiful. If I lived there, I'd never leave except to go outside and enjoy the great view even closer.

Tammy, Michael is right. God will never put more on us than we can handle. Remember the poem "Footprints". I hope Saturday goes well for you..Hang in there. It will all work out.

Shirley

You certainly inspire me, please keep it up and keep posting!

Thinking about you on auction day.

i feel your pain. from day to day i don't know where i will end up, but i keep pressing forward. i work hard to remember what i am thankful for, what good things i have in my life. i have to hold on for now and believe me, if i can do it, YOU CAN DO IT! i am thinking of you and praying for you. it will all work out.

Michael, that was the best post i've ever seen you post and i really appreciate it. thank you.