Roger's REI Journal - Twin Cities!

I just took in all I could from Dean's Live Event from La Jolla, California today. I got to listen to Dean, Frank Curren, Greg Murphy, Joe Jurek, Brendon Burchard, Mike Koenigs, Matt Larson, Jeff Jensen, Carol Stinson, and the Skype call from Greg Clement.
All for free over the internet. Isn't technology amazing!
Thanks Dean for doing this and for creating the Rock Bottom Blueprint. You've put a year into this and it shows.
I've heard many of these guests before but I can just listen over and over because I learn something new about each one of them and what triggered their motivation and success.
Topics from "not being overwhelmed" and the oft repeated "Mindset" all the way to the step by step ingredients in Matt's strategy for example.

This was an amazing event and I'm glad I did not miss it.

You know what? I'm not even going to say what actions I plan to take as a result of all of this fantastic input from all these superstars today. I'm just going to do it and I hope I will get to share some of the fruit of my actions here in the near future.

Thanks Dean, thanks DG family. You're all amazing.

Roger Schafer
Jaguar Investment Group, LLC

P.S. I did sell my rehab in Brooklyn Park, MN and closing is August 11th. My New Hope, MN rehab will be on the market by August 15th.

glad to see you're still alive and kicking. yes, Dean's live webcasts were amazing. i got a lot out of them too. can't wait to hear how your closings went.

I can't wait to hear about your new ventures!

Hi Linda and Tammy,
Thanks for stopping by.
Closing went without a hitch. The couple that bought my home are very happy to have their new house with the big backyard. I am happy with my check!
For the other house, plan was to have it on the market today.... maybe tomorrow instead since my contractors did not show up Thursday or Friday!! Ahem. There is a lack of urgency on their part that is catching my attention here. They shouldn't do that! I have other options as usual and they should know that.

Here is a hint about some of the changes coming to Jaguar Investment Group. Yesterday, I made my first offer directly to a homeowner. That was a first for me!! (are you getting tired of my exclamations "!!" yet?) Previously, I have always gone through other people (RE agents, Wholesaler) to obtain properties. It is a 1988 "modular home" that the owner has put a lot of work into and they don't really want to give it up, but they have to (her words) move out of state and plan to move to Florida. She has not been living in it for 3 months. The home has been appraised for $43K and she placed an ad for $22K and I offered $8,500. I should find out today how close we are on this. There was some damage by vandals. Lot rent is $470/month.

Hi, see things are moving for you. Are you gonna sell the mod/home on C4D? that sounds like it could be a gold mine for you!! Just checking in to see whats up. Hope to talk to you soon.

Reminds me of some of the old game shows... I'll pick door #3. They open the door and the announcer says "A New Modular Home!"
I got the modular home for $8,500. The owners said they would gift it to me if I wanted so I didn't have to pay taxes and I just said, "It's a business so I'll just pay the taxes". However, when we went to the DMV to transfer title I found out there weren't any taxes to pay on the purchase of this modular home. Nice.
Cathy,
I got this home at such a discount that there are a number of possibilities that I could do with it. I could do a C4D, or I possibly could just rent it out. I do like the idea of getting all your money back in one year with a C4D. I ran a NADAguides.com Value Report on it and it came back at $32,914.

We've been really busy at the house in New Hope. It finally got it on the market Friday at $189,900. My wife Maribel wanted to do the cleaning and staging so we were over there Friday and Saturday with the kids. The neighbors were just dying to get into the house last night to take a tour and do their "ooohs" and "aaahs". We really did transform the house. First private showing is tonight.

Roger

Good Luck getting both the Modular home and the home in New Hope sold! I can picture Carol Merrill showing us whats behind door number 3!

congrats on the modular home. i haven't had time to read journals lately, but you've probably sold it by now or rented it out. way to go! i've been thinking about mobile homes ever since i heard Dawn Erling talk about it in the EDGE 2011 DVDs. so, if i bought one, i would have to transfer title through the DMV, huh? what if land is with it? once i get moved back to OK, i'll have to work on that.

Thanks for the comments.
An update on the mobile home and general update.

This has been an exciting day. Did you ever have one of those days where you were just totally discouraged or angry? That was yesterday. I was a bit upset about a few things going slower than I think they should.... but I decided that I would at least do "something" so I went out early in the morning and posted some bandit signs.

Let me backtrack to when I mentioned a couple of posts ago that you were going to see some changes with the Jaguar Investment Group and I would let you in on them at a later date. These things are probably not really big changes for some of you experts out there but they're big for me!!! These changes are related to the front end of my business.... marketing, contact with owners, (REAL people in other words!). I've been so busy on the back end of the business with rehabs, etc. that I had never really put the attention into the front end like I should have. But lately, I have been taking some steps forward in this area.

Back to today. If today is any indication there are still many more good things to come on the front end of my business!~ I just put out 3 signs last night. And I got a ton of calls (15-20) from one of them, and one or two calls from the other one, and nothing from the third one. It's all about putting these signs in the right spot, a busy location where people have to stop for a traffic light. I know! You've heard it a million times from Dean and the other regulars on deangraziosi.com. But there it is. I had many calls, a couple of individuals came out to look at the mobile home, but more importantly, I am collecting information on these buyers and I've got some good criteria on two specific buyers that I can use to find the properties that they really want.

Now imagine if I had put all the signs in the wrong spot. I would still be discouraged and thinking that this will never work!

So, I still have the mobile home but I am not too worried about that since I'm pretty sure one way or another I'm going to be able to sell outright or do the contract for deed. One of the visitors today might just be the right person. I am sending her some numbers about what her monthly payment would be on a 15 year loan when you add in the lot fee. If she does it, she would purchase outright from me and then sell to someone else on a C4D for the monthly cash flow because she wants the "rental" income. I think I would prefer to just get paid upfront but I could go either way -- sell outright -- or do a C4D with a buyer.

Anyway it was a fun day today with cellphone in one hand and paintbrush in the other and talking to people that visited. Also, the previous owners finally moved out all their things today so there was a lot of activity at the mobile home park today.

Roger

Linda,
If you've got land with the mobile home then it would be a purchase like any other real property purchase. You would write up a purchase agreement and do a closing because now you have to transfer real property. I did not have real property involved so a closing was not necessary.
One thing I will do differently next time though. I would still write up a purchase agreement the next time. Let me explain...
The previous owners finally moved out their things today. It's been almost 4 weeks I think that they have been storing their furniture in my home... always a reason why they couldn't come. I lied about 10 days ago and told them I had sold it and they had until today, Saturday Sept 25th to get their stuff out or it would be donated. So they finally came today.
On a purchase agreement you could specify by what date they need to have their stuff out, AND, you would specify in writing what the agreement was. For example, when they moved their things today they also took some really cool angels, a decorative bench, and a statue (landscaping items) that WERE INCLUDED with the purchase on our original verbal agreement but I didn't have anything written down so what can you do?

Learning something new every day. Keep those purchase agreements in your car and use them!

Roger

I sold my property in New Hope and have also sold the mobile home in Oakdale.
I signed the buyer's purchase agreement for the rehab in New Hope this morning, and I am going over to the mobile home buyer's apartment tonight to get closer to closing the sale on the mobile home. I am bringing over the park application and will also have them fill out an application that I have.
The terms of the mobile home sale (Contract for Deed) are $5K down, $500 per month for 3 years with a $6,500 balloon for a total of $29,500. If they pay it off in one year they can get it for $26,500. They will pay insurance and I will pay taxes. ($160 a year)
I will get better at valuing my money (and time) in the future because in this case I did not charge interest on the balance outstanding.
I did replace the roof and fixed up a few other things so although I purchased it for $8,500 I have $15,000 into it. There is much room for improvement for sure but I am just happy to be moving forward. I suppose it's not that great that it will take me 1 year 8 months just to get my money back. Yeah. I've got to do better next time.
I have a really good lead on another property that is an up/down duplex for $37K that I may be able to purchase contract for deed. It could become my second rental property. If I am able to get it at that price, however, I already have an interested party to buy it from me for $8,000 more than I would be paying. There's nothing wrong with that either.

Roger Schafer
Jaguar Investment Group, LLC

take the 8k and run. you're moving in the right direction and 8k will help things keep moving. A rental is going to keep you more occupied and take a long time to pay you that 8k.

Hi Mark,

Strange. I saw your response a week ago but it did not register who the author was. I must have just taken a quick glimpse. Your response about taking the money and run really makes sense now following our phone discussion! I will definitely keep you informed about what happens with this and other properties.

Roger