Linda's (from Indiana) Journal

the weeks seem to be going faster and faster. i just wish i could keep up. i showed the short sale property yesterday and it's hard to tell if the investor and his wife are interested or not. i did tell them if they are not, then just let me know. i also said it hurts nothing to put in an offer; if they get it, fine, and if not, fine. then he called me after 9pm last night about closing costs. i checked with 2 title companies to get the scoop. basically it would run $627, including the transaction fee my agency charges on every transaction. but....one agent told me to put in the contract "seller to pay all closing costs and title insurance owner's policy" because the bank would be paying it. if the bank agreed to that, it would be about $345 with the transaction fee. i have also heard that you can make the offer with a letter that asks the lender to forgive the owner's deficiency, but i'm not sure where i heard that. whether the bank accepted it or not, i thought it would be a good gesture for the owner to know that. if you know where i can find a letter like that, please let me know. i might have to call the Academy and see what they say. i have been going slow yesterday and today due to total exhaustion again. i sure hope it passes soon! it's getting a little tiring. Question: WHO DO YOU THINK YOU ARE???

CONGRATS ON ALL YOUR HARD WORK & MEETING GOALS SO WELL!!! I have a great deal 4 someone(a retire type)if you know of 1 & if your plate isn't too full already .....25 to 35K would do it for the place nextdoor to the 1 we just bought.......there are a few more here too that could possabaly be moved if the right buyers were available, & having a waterfront view is high on a lot of folks list I would tend to think! Great going & wow are you busy now!!!

thanks for stopping in. believe me, i never miss a meal and try to add a few while i'm at it. where are the properties located? right now i'm just working locally and will also be investing in the Tulsa area because my daughters are in that area. sounds like you are going hard at it. keep up the good work.

yesterday i had to show 4 houses, 3 HUD's and 1 REO. it was raining (we need it so bad here) and i hate being wet. so....as we're driving to the first house, i pray to myself "Lord, i'm not getting wet so this rain has to stop". (i always did this for soccer games and just running errands.) it had stopped by the time we got to the first house and didn't rain again. i didn't mean for it to stop raining all day, just while i was out and about. now i'm really gonna tell on myself here and you will really think i'm a kook. we are driving to the second house and i find the house number and we pull in the driveway. Chuck and the client go around to the side of the house to immediately start checking the exterior stuff and i'm trying to unlock the doors. i can get the key in, but i can't do anything else. i had just told Chuck that this house looked like it hadn't be empty for long. i look at the street sign and it is not the right street, but it is the right house number and the right color. i had to walk around to the guys and tell them we were at the wrong house. thankfully no one was home and we didn't get caught. i felt so stupid!!! believe me, i checked the rest of the addresses out more carefully after that. what a dork! the last house was the one that seemed to have the most possibilities and as Chuck and i are helping the client "see" what can be done to make it a nice home, i am thinking we should go after this property if the client doesn't. i get in the car with Chuck after we're all through and he says, "if he doesn't make an offer on this house, i think we should". i'm checking my temperature and telling Chuck that i must be really ill and running a very high temp because it really scares me when we think alike. we started laughing. so, i get an email late last night that says he wants to make an offer on a HUD house and that house we're all interested in. gotta work on all that tomorrow. we rested quite a bit after showing the houses. Chuck has worked himself to utter exhaustion at work and i must be going through the exhaustion/aches of gluten withdrawal. i am hoping that is about over because i just don't have time to be down anymore. last night we did go to a concert in an outdoor theater. it was the Swedish group ARRIVAL that performs as ABBA. i'm really showing my age there. anyway, they look like ABBA did in the 70's and the sound is exactly the same. some good music and just a nice time out together. we were home before 11pm, but we were so tired we could hardly make it to bed. oh, the joys of getting older. Jared (my son) made it safely to the California desert yesterday for a month of training for deployment. we didn't think he would be able to take his phone, but he has access to it for a little while. i can't wait until they see what he is like. he loves all the action and usually takes them by surprise. in basic training 4 or 5 guys decided to mess with him and try to beat him up while he was sleeping. this is not unusual and some guys are always up to something. anyway, apparently he goes berserk in a fight and he beat them up pretty bad. not one of them would say a word about it. they never messed with him again and neither did anyone else. and because he has such bad flashbacks from being in Iraq, you never want to touch him while he's sleeping. i have to remember that. Question: ARE YOU CONDUCTING YOUR BUSINESS AS A BUSINESS???

i thought i better take the time to post now because the rest of my day is full. i guess that is a good thing. i slept half-way decent for me and woke up at 6:15am wide awake. that was a new feeling. i was going to rest a while longer, but my mind was racing and i figured i would get a good start on a busy day. i put in the HUD offer for my clients on a property that just had its first price reduction and was open to all bidders today. that was the easy part. their second offer is for an REO so i have to call the listing agent and find out about the addendums, which are usually about 15 pages long and supersede anything in the offer. i have to ask her how she wants the offer because sometimes they don't even want an actual purchase agreement, just the addendums. also have to ask what procedures to follow. this is all new to me and i would have never guessed it was this big a deal. when we made the offer on an REO a month ago, we didn't do all this. maybe that's why the listing agent probably didn't submit the offer, although she should have at least said something if we did it wrong. i talked with my principal broker this morning and he is meeting with me to go over everything at 1:30pm today and it will take 1- 1 1/2 hours. then i have to meet with my client at her office to put the offer together and may take it back to my broker to make sure i did it right. i'm still very uncomfortable with all this. he is also going over the short sale offer stuff with me this afternoon. my other client wants to meet with me within the next few days to make an offer on it and short sales can be quite complicated. so...i have to be at full capacity this week. i'm rather excited because i believe August is a great month for me. the house Chuck and i made the offer on has dropped another $5000, although it is still way overpriced. Chuck got a big smile on his face when i mentioned it had gone down again. i listened to a webinar last night on tax lien certificates and that really interests us both. they offered a really good deal i could not take them up on, but i got some good information and may have another option or two. one of my lessons with the Success Academy is on tax liens so i will need to take that and see what i can learn. like i don't have enough stuff going on all ready! i'm excited and we'll see how this all turns out. Question: WHO IS YOUR ACCOUNTABILITY PARTNER???

Chuck was home for lunch, left and fell asleep while driving and drove off the road. he is fine but home for the rest of the day. we think he has a summer cold and took some medicine and that didn't work out too well. he has worked himself into being sick and now he has to recover. hopefully he will feel a lot better tomorrow. i got everything done on the short sale contract that i could. it's amazing what you can put in the contract and we asked for the moon. hopefully it will all work out. it would be a great property for my clients. i am learning a lot. i am getting many expired listings almost every day. i am saving them because i need to work them as an investor and a realtor, but right now i'm wondering if i should get any of my own deals started since i know i am leaving in less than a month and will be gone almost 3 weeks. i don't want to take an option on a property, then not be able to work it like i should. that is not fair to anyone. maybe i need to concentrate on being a property locator for Carol Stinson during my remaining time here. i'm also thinking about "what if i find a L/O property while i'm in Tulsa"??? i do not have a real estate license there so i would think i am not held to the same rules as here in Indiana. i guess i need to ask Elix. i did my Success Academy lesson on sandwich L/O's and i loved it. i was really into it and i know that is what i need to be doing. i also want to learn more about co-op L/O's because i think you can do those when there is no equity, so i will be listening to some recordings on that. if anyone has any input, please share. sometimes you need to hear from someone who can be totally objective. haven't heard from my son since late Saturday night. i'm sure he'll have plenty of stories to tell and they are fun for me since i will never experience what he has and will. Question: WHAT IS YOUR BIGGEST FEAR IN REI???

WOW! I'm sorry about Chuck falling asleep at the wheel but am so glad to hear he is OK, whew!

Great news and great job on the short sale.

You are making wonderful plans for your Tulsa trip for now and then.

Lea

hey, girl! so glad you stopped by. i have been thinking about you all week. i'm running around like crazy with doctor appointments and RE appointments today and tomorrow. hopefully a little calmness Friday. we'll talk soon. have a great rest of your week!

well, i got quite a shocker last night about 5:15pm. my mortgage broker/client calls and says "did you know we're homeowners?" no, i didn't. they won the HUD bid and HUD emailed me right when she called me, so i hadn't seen it yet. talk about excited! this is my first accepted offer. since they are paying cash, we should be able to close quickly. wooo-hooo!! i am meeting with the HUD specialist in our office this afternoon, then will take the paperwork over to the client at her office. we have to overnight everything to Chicago tonight and it has to be there tomorrow. HUD is very anal about everything so i want to make sure it all is correct. i'm so excited to learn this process. out of the blue, my short sale clients asked to change our meeting from tonight to tomorrow, which is a real blessing. (we also have a "viewing" tonight - Chuck's brother's father-in-law passed away unexpectedly Monday morning from a heart attack.) so, i am running to the doctor this morning, then meeting the HUD guy at 1pm, then running to my client's office to get the paperwork signed. after all that, i have to go overnight the package to HUD. i know you can't tell i'm excited!!! just to finally have an accepted offer is a big deal to me. now, to get it closed! we should be able to get it closed before i leave for Tulsa and since i really want to be there, that would be great. we are going to use HUD's title company because if you don't, you can be charged double fees and who wants to pay that??? also, when you buy a HUD property, you buy AS IS and there are no inspections. only an owner/occupant can back out of a deal under extreme circumstances, so that is good to know. i'm so excited for my clients! i told Chuck just the other day that they needed to get their rehab house so they could get the rehab started. now is the time! well, i guess i better go eat breakfast. i'm starving and will turn into a big hairy monster if i don't eat pretty quick. it's not pretty either!!! Question: WHAT EXCITES YOU ABOUT BEING AN REI???

Glad things are looking up for you and keep up the hard work

thanks! i appreciate you stopping by and your words of encouragement.

last night we went to the viewing and then out for wings at a restaurant where Chuck has done many favors for the owners. they surprised us and paid for our dinner. another day of appointments today, but hopefully it will all be good. i start out with another doctor appointment and hope that this one is extremely helpful. yesterday was fine, but not sure if i will pursue it or not. i do have one more appointment next week but i'm mainly doing that because the first 2 appointments are no charge. i am meeting with my clients tonight on the short sale offer. the listing realtor sent over a couple documents for me and i hope to present the offer to her in person. i feel very strongly that i need to do that with this one. i have found out that the buyer can put in the contract under "further considerations": "Seller to have full release of mortgage." this would release them from further obligation on the mortgage. i would like to do that if my clients will agree and the lender too. they are losing this property, so how do they have the money to pay their mortgage in full and then taxes??? duh. i will talk to my clients tonight and see if they want to to that. i also have in the contract that buyer is not responsible for anything the seller owes so i think they will feel safer about that. we'll see what happens. after 2 hours in the realty office trying to run the HUD documents, we finally got them. it was so aggravating and i have no patience (and don't want any). the guy helping me was a real good guy and far more patient, but our office needs to get some computers that work and get rid of Verizon as their internet carrier. i ran the paperwork over to my client to sign and she was gracious and made all my copies for me. then off to UPS to get them to Chicago today. i probably need to check and make sure when they are delivered. i didn't sleep after 4am this morning thinking of all this stuff. i kept turning the light on and making notes, and Chuck and i got to teasing each other about no more sleep because of the lights being turned on, me getting up and down and making notes, etc. who needs sleep??? i did find out that i do not want to be a listing agent for HUD. they do a ton of work and get paid next to nothing. but....being on the buyer side of the equation, they pay 5% commission, which is high, and the paperwork isn't too much of a hassle. you just have to be really precise. you can also type in everything in the paperwork on the computer, then just print it out. we had a lot of issues with the computers/internet yesterday, but now i can print them at home. the agent that helped me is the HUD specialist for our office and he loves doing the HUD deals. i would do it again. now i wait for the acceptance and approval of all the paperwork, then should have title information by Tuesday and proceed from there. i'm so thankful my clients are paying cash because that makes it even easier. also, when you submit a HUD bid, you must use the name the client has on their driver's license and then they have to sign everything that way exactly. this has been quite a learning experience for me, but really neat. the agent who helped me sent me a HUD flow chart to help me with my next HUD deal, but he is also available to help me as well. i am thinking i want him to help me on all my deals, HUD or not, because i like his attitude, his excitement, his love for what he does, and he is very sharp and helpful. he may get tired of me. i am waiting to hear back from an investor friend so we can go see one of his rehabs. it's on the market and Chuck had looked at it with him after he bought it. now we want to see the finished product. Chuck is talking like he is an investor. cracks me up!! Mr. Skeptical talking like an investor. what will happen next??? Question: ARE YOU CALLING YOURSELF AN INVESTOR NOW, OR ARE YOU WAITING FOR YOUR FIRST DEAL???

i was so ready for today and was going to rest some. fat chance!!! and that is not a reference to my weight! i had to run to the office this morning to drop off the paperwork and money order for the HUD offer. i would not leave it there without someone in the office. before i did that, i made up a quick receipt to have signed that they had received it all and then put that in my file. the office is pretty disorganized and i'm not about to drop off money without proof i did and who took it. i had to take care of some insurance issues this morning and hopefully that is all taken care of. my short sale meeting was cancelled last night because Equity Trust won't send a POF until Wednesday verifying the funds are cleared and in the account. it has something to do with the way my client transferred the funds. i emailed the listing agent this morning that we were going to be delayed with the offer, but that i'm still sticking with it. i had to go deposit a check and went to get my new car tag. it only took me 23 minutes (yes i timed it) and i was very pleased. Chuck was shocked that i was done so quickly, but i always pray before i go almost anywhere and ask for good parking and quick turnaround time. it's amazing what our words can accomplish. i saw a new doctor yesterday and i'm really happy. she found that i have stage 2 adrenal fatigue, which is not good, but treatable. we still have to find the root cause and she has the good sense to know that. my biofeedback tech has been telling me that for 5+ years and no one would listen. this new doctor also wants my biofeedback tech to muscle test my new supplements and see if they will work on me. if not, i just return them for a refund. you can't beat that. i got an article from the Indiana Association of Realtors saying that we can do land contracts!! i'm not that crazy about them, but i don't want to be told i can't do them either. you are exempt if: you are an owner/occupant selling your own home or you are an investor and you are selling with a land contract or lease/option. why??? because no title is passing. if the title does not pass, you are exempt. you should not advertise seller financing, because that sounds like a loan and that title will pass. if you are doing a land contract, no title is passing and you should advertise it as such. i find that very interesting! my daughter, Danelle, is getting moved into her new house. her little boy, Grayson, hasn't quite figured out what all is going on, but he loves the new staircase!!! what is it about stairs that little kids love??? i hope everyone has a great weekend! Question: ARE YOU PRIORITIZING YOUR ACTIVITIES TO GET YOU WHERE YOU WANT TO BE???

it is beautiful out today. i am babysitting my 5-year old niece while my sister gets her hair done. Evann is pretty good about not requiring a bunch of attention and it allows me to do what i want to.....like REI stuff. i have mainly been on the internet reading and looking for information. i tell myself i will take a break and get away from it, but i think i'm addicted to REI and i think that is a good thing. my sister and her husband have been rehabbing my parents' house for months. they have the downstairs half bath, the kitchen and the HVAC to deal with. they have come a long way! it's remarkable what they have done. i hope to convince them to do it with an investment property before too long here. they are trying to decide whether to stay in this house or sell it and move to one they choose. my HUD client called and they want to set up a time to get some estimates on the rehab house they are buying. we'll probably do it at the end of next week. i hope to hear good stuff from HUD by Tuesday, including title information. i have decided to go see my Dad in Arkansas on the way to my daughter's. i was hoping to figure out a new route to Tulsa because i'm tired of the old one, and now i will. it will take over 11 hours to get there, but that is nothing new to me. just put my REI CD's in the CD player and go. i am hoping to stay with a cousin, who lives right across the street from my Dad and Aunt (her mom). i'll stay 2 nights and one day, then it's only a little over 2 hours to Tulsa. i just want to make sure i am driving in daylight so i kind of can see where i'm going. i want to update my GPS before then too because it really needs it. if you are buying a new GPS, be sure to get the one with lifetime updates! Question: WHAT ONE THING CAN YOU DO TODAY TO BRING YOU CLOSER TO YOUR GOALS???

had kind of a rocky Sunday, so i'm glad to be on Monday. had a bunch of errands and medical stuff to take care of today. my new doctor had wanted me to have my biofeedback person muscle test my supplements for me and i haven't been able to get a hold of her. all of a sudden, it hit me this morning that i know how to do that. duh. i needed a little refresher on it and found a good video on www.youtube.com. once i watched that i remembered exactly what to do and it worked out great. my mind needs to work a little faster. i'm now leaving 3 weeks from today so i can take my time, go see my Dad and then get to my daughter's the same day as originally planned. she really needs me to stay about 3 weeks longer, but i just can't do that. i'm really trying to figure out how i can invest in Tulsa and partner with my girlfriend there. she would be a great property manager and we could do lease/options, but right now it looks like she would do all the work. not much of a partnership if one person does all the work and the other person still expects to get paid. gonna have to work on that one a bit. i'm getting ready to listen to a series on co-op lease/options. it's quite lengthy, but i want to get started on it. i'm not going to do any deals right now because i can't see getting a house locked up on contract, saying i'll find a tenant/buyer in 30-60 days when i'm leaving in 3 weeks and will be gone for 3 weeks. it's really bugging me, but i can't do that to people or put that kind of pressure on myself. my daughter told me i need to get some things set up for when i'm in Tulsa, but i'm supposed to mainly be taking care of her and her family. what to do???? i know i need to do something!!! i am about to go nuts just thinking about it! Question: ARE YOU WILLING TO DO WHATEVER IT TAKES TO REACH YOUR GOALS???

things are moving right along, whether i'm ready or not. i listened to my first recording on cooperative lease/options and i like it! it is actually wholesaling lease/options, so i could combine the 2 techniques. i have never had any real desire to wholesale the regular way, yet this would allow me to do both at the same time. i think it's a great idea! i will be listening to the second recording today. i'm hoping they go into enough detail that i do not have to purchase another course to feel like i can do it myself. i will be talking to my Success Academy coach today and will ask what Dean has on that. i need a good option contract and an assignment contract. i haven't talked to my coach in weeks because of being ill. we should have a pretty good conversation today. Chuck and i listened to a webinar on tax lien certificates last night (he fell asleep after 15 minutes). it was okay but just very general information trying to get you to buy their training. it is probably good but i'm not spending $1500 for it. i've got enough money invested in training and courses to last several lifetimes. i had pretty much decided not to go after any leads or advertise any until i get back from Tulsa because of the time frames involved. i didn't want to leave anyone hanging while i'm out of town for 3 weeks. well....."someone else" has other ideas. my mortgage broker called with what sounds like a very good lead. they have $5000-10,000 down and should be able to get a loan within a year. then i look at my email on my blackberry (mainly i'm looking for a text from my son) and i have a lead from my website that came from craigslist. now, to me that is awesome because very seldom do the leads come from my website, but i also haven't put any ads out for weeks either. my challenge here is that the house is in what i would call the war zone. it is only worth maybe $22,000 and needs some smallish repairs done. they want $14,000 out of it. so, i am going to email the one investor who asked me to give him 2 days' notice before i send it to anyone else. then i'm going to email some other investors and see what i can do. i might even list it on the internet. they have not listed it with a realtor. they were actually pretty thorough in their information, which is always appreciated. i have not heard from my short sale client so i emailed him this morning to see if we can meet tomorrow or Thursday, since they should be able to get a POF tomorrow morning. i'd really like to get that one under contract and sold for the owners. i haven't heard from my son since Thursday night when he texted/called to say they were taking their phones away for 2 weeks. they are "in the box", whatever that means, playing their war games. when he was stationed in Germany and Iraq it never bothered me because he was so far away. now that he's been closer to me, i miss him like crazy and want to hear from him all the time. it has really spoiled me. hopefully i will get to see him in October sometime, but he may be in Alabama for more training. Ouch! Question: ARE YOU TRULY FOCUSED ON YOUR GOALS OR DO YOU FEEL TOSSED ABOUT WITH EVERY WAVE???

I am working with a couple of partners right now and we have a potential deal in IN. My strategy is to ALWAYS buy in a trust, but I know you have talked about it several times that a property can NOT be bought in a trust in the state of IN. What ways are there around that? Because its a partnership, the trust is one of the strongest vehicles to utilize for buying property. Do you have a copy of the IN law forbidding trusts you can post here so we can see if there's any way around it?

land trusts and land contracts are 2 different things. a land contract was supposedly illegal now in IN. land trusts should still be fine and you should be good to go with that. i have since found out through the Indiana Association of Realtors that their legal team is saying we can use land contracts, which is a type of seller financing, because no title passes until the contract terms are met and the buyer gets a new loan or pays off the seller financing. i think you are on the right track to use a land trust. go for it and let me know how it all goes.

I must have misread because I thought it was the trust that was nixed. AWESOME to know, and so glad I asked!

Now I'm curious about a land contract! Is that kind of like a lease option with seller financing?

first of all, some states call a land contract a "contract for deed". i lived in OK for 26 years and they called it contract for deed, come back to IN and they call it a land contract. so you want to make sure you have the right "name" so people in the state you are buying in know what you are talking about. a land contract is a type of seller financing, but no title changes hands until the contract terms are met and the contract is paid off or refinanced through regular financing methods. realtors here are happy to do a land contract because they think they will get all their commission up front. so, be prepared to have to pay a big down payment. you might not always have to, but at least be aware of it. a land contract also gives the buyer equitable interest, so if they default, you have to foreclose. you can probably put something in the contract that states the Buyer agrees to forego the foreclosure process (make them aware that it will save their credit) and will move out within 7 days (or whatever you decide) upon default. i just spoke to a lady that is convinced she has to do a land contract, not a L/O, so i told her just what i'm telling you. i do not care too much for a land contract, but they are extremely common and well-liked in IN. i think a sandwich L/O or L/O are better ways to go, but that is my opinion. so, check it out and see what you think. hope i've helped.

i'm running behind today and swamped all ready! oh, to be so popular. i am meeting with my short sale clients tonight at 7pm at the realty office. i will get there early to re-do the contracts because of the date change or i can type them up here and print them off my printer. that might be the better way to go. they emailed me a copy of their POF, which is good. i think they wanted to make sure they got it before confirming a time with me. the listing agent (and daughter of the short sale sellers) emailed me last night to see if we were still going to make an offer. i emailed her back this morning to let her know we are working on it and asked if anything was going on with the property. they have dropped the price to $45,000, so our offer is closer to the asking price now. it's a low offer but dropping the price should make it more palatable to the sellers and lender (hopefully). i am hoping that the buyers will let me put in the contract "sellers to receive full release of mortgage" because that will look good to the sellers and probably they will accept it. the lender doesn't have to do it, but at least we have tried. I GOT A CALL FROM HUD YESTERDAY! sorry, i am really excited about it. i had one thing we didn't do on the last page of the contract, which was very minor. i was able to get it taken care of right away and emailed back to the HUD guy that called. he was nice enough to confirm he received it. since it was on the last page of the entire paperwork, hopefully that means we are good to go. i should receive title information this week, i hope. we're wanting to close quickly so they can get started rehabbing (and i can get my first check!). one of my referrals called this morning and i was on the phone with her for about 30 minutes. we had a nice conversation and she sounds like she has a good head on her shoulders. she insists on doing a land contract so i may have to do that if i find them something. i wonder if you can do a sandwich land contract. i suppose you can, but i might be the first to do one. i told her up front that i would have something in the contract stating that if they default they would agree to leave within 7 days (or whatever i decide) and forego the foreclosure process. she would be agreeable to that. she has done one rehab before and wants a fixer-upper. i also gave her some help on finding reo's on www.realtor.com and how to find the lender for a vacant property she knows has been foreclosed on. just a little help for her. i spoke with my coach yesterday and she didn't know of Dean having any information on co-op L/O's. i gave her some information on it and she is going to check it out. i'm on my own on this one, but it is a great idea. i have really enjoyed my recordings on them and have 4 more to get through. Question: DOES REI GET YOUR BLOOD PUMPING???

whoo! i have been going like crazy and i'm ready for a little break. we got the short sale contract done last night and i was very pleased with it. we had a few challenges, but i managed to stay calm and do my "job". i turned the offer in this afternoon and went over everything with the listing agent. we do not have an earnest money check because it's from a self-directed IRA and it will take up to 5 days to receive it. we noted that in the contract. the listing agent was not real comfortable with it, but there isn't much we can do right now. the thing is, why give them the check when we don't even know if they will consider the offer? just my way of thinking and my clients too. HUD called me shortly after 8am this morning. a couple minor things to take care of and the guy was even more pleasant this time. he said it was his fault for not catching these things and was nice about it. i told him i'm really, really new at this and he was cool with that. hopefully i will get it down pat so the next time i don't have to go through this, but it hasn't been bad at all. i've been able to get things back to HUD very quickly. hopefully this is it and we will get the title information from HUD by the beginning of next week. we are still trying to close before i leave for Tulsa. Question: WHERE DO YOU GO FROM HERE???

i was so exhausted i went to bed at 8pm last night, but it didn't help much. i'm still dragging today, but things to do. i went to a "class" at the Fort Wayne Board of Realtors on www.listhub.com and it was interesting. it's through the MLS and sends out listings to 335 websites. you just have to have a listing and your broker has to be signed up for it. then you can get involved. right now i don't have any listings, so i can't use it. they are adding some great features, so by the time i can use it, maybe those features will be added. i sat by the realtor i sat by a month ago and she asked how my business was going. i was proud to be able to say i had 2 deals going. she is working on a counter-offer her buyers received on a short sale, but she said they are $15,000 apart. that makes me feel better because investors are not going to pay what an end buyer will. just isn't gonna happen. they are more interested in cash flow and numbers, whereas an end buyer doesn't think about those things usually. Chuck does, but he's very unusual. so far i haven't heard anything from HUD or the short sale offer today. i'm okay with that. they can call me Monday. at 4pm i'm going to be on a webinar with J D Esajian on how they did one of their deals. Chuck and i really like their group and enjoy watching them on TV and on webinars when we can. i haven't heard back from either of my leads i got earlier in the week. i know both have had email issues so we'll see what happens with that.

Hello Linda, I was trying to catch up on your journal But you are in the Indiana Joe catagory of posting
You certainly are a busy lady but in my book thats good. Better to be busy than not to be.
Good luck on the HUD SS your working on. I would love to hear how the process works in steps when your done I love information
keep up the hard work and it will pay off soon.

best of luck
Richie

thanks for stopping by. gee, it's nice to know i'm right up there with Indiana Joe! does that mean i'm gabby??? hopefully staying busy keeps me out of trouble, but sometimes i wonder. i am in awe of what you have accomplished and you are really on your way now. that is a huge encouragement to me. thank you. i will try to talk about the HUD and short sale steps when i close the deals. have a great weekend!

i just got a call on the short sale from the listing agent. she said the lender would not even entertain our offer. the first BPO came in at $50,000 and the newest one this week came in at $45,000. does anyone see anything wrong with this picture? the BPO dropped $5000. duh. no investor is going to pay FMV for a rental property. we had at least hoped that having any offer in would slow down the foreclosure process, but it is not in this case. the bank would rather spend $50,000-80,000 to do the foreclosure than lose money selling it. not only that, but they destroy the seller's credit and put themselves farther in the hole. if they do the short sale, the Feds give them all kinds of money and they would make money on the deal. hello!! someone needs to wake them up! okay, do i sound emotionally involved? i really wanted to help the sellers out and get my clients a nice rental property at the same time. oh, well. i tried. i've tried very hard to find a buyer for this property and the listing agent knows it. she thanked me for all my hard work to try and find a buyer. we never know, something still could happen at the last minute. it's not like they've had any other offers on it.

I understand completely your thoughts on this short sale and the bank isn't making any sense. I know you have been working hard on this one. Like you said you just never know what could happen with it.

Lea

Linda,
I have been laid up with a back problem, but it just now seems to be healing. I haven't been able to walk (I have been crawling around the house on all fours like I did when I was 1 year old) but now just tonight, it seems to be letting up. I received a walker from the VA today and I have been to the chiropractor 3 times over the last week because the VA has not been able to help me other than Oxycoten. I have been so depressed that I felt like giving up. The only thing that has kept me going is Molly (my daughter). After listening to Dean's video's that I just found, I am all fired up. I will be on that conference call on Tuesday. I hope you are doing well. I haven't been able to get caught up on your journal, but I will asap. I hope you are doing well and having great success.

Tim

Hi Linda,

I would not worry about preception to much. There are lots of agents who
are investors ,Carleton Sheets comes to mind.He puts a line in his contract
saying that he has a license,and the purchase is for his inventory or words
to that effect. This states his intent very clearly , and has kept him out
of trouble. The license does get big brother looking over your back though.

I just read this post today,it may be too late,but I hope it helps.

Mel

what a beautiful picture! but i really miss the one of you and Denny. thanks for the encouragement. out of everyone, i was the one who cared so much. gotta keep that under control.