Linda's (from Indiana) Journal

i was telling Chuck that we had a good talk this morning and he said "well, i've never heard you say you had a bad talk". duh! of course not! it always gets my creative juices flowing. look out!

Happy New Year to you and Denny too. 2011 holds so much for all of us; let's go out and claim it!

we finally heard from Jared! he only talked for a few minutes, but at least i got to hear his voice. he called my cell phone, which he usually does, and only 5 numbers came up for the phone number he was calling from. i answered it wondering who in the world it would be and then the signal was delayed so at first i didn't think anyone was there. then i heard his voice and i'm thinking "who is this?" i'm such a wonderful mother. when he called through Skype i told him he had the wrong number and then i don't recognize his voice. lordy! anyway, he is fine, but not at his post yet. it sounded like things were not good at his post so he is stuck somewhere else for the time being. i think the weather there is also bad and they have lots of equipment to haul in because a certain plan didn't work out. he is frustrated but i really believe God is protecting him and he will just have to be frustrated. God has been tasked with protecting my kid and He will do whatever He has to. i can't be there to protect him, but Chuck said that they would call me Linda-ban if i was and i'd be far worse to deal with than the Taliban. uh-huh. i am working on my goals today. Lea and i talked for a while and bandied about some ideas, then i got to work on goals for 2011. i'm not putting pressure on myself, but this is what i want and what i'm going after. i'm going to have to be a lot stricter with myself and Chuck about what i need to do and just do it. he likes me to spend the evenings with him and i like that too, but right now i need to buckle down and just do the business like it needs to be done. here are my REI goals for 2011:
1. get my 5 deals done for my PMI refund
2. $3000/mo. income after taxes/expenses free and clear to me
minimum $10,000/month gross income
2-4 deals/month
contact 20-25 sellers/week
(kind of my breakdown of how to meet that goal)
3. do webinars, etc. faithfully that deal with L/O's
4. set up contact manager and keep in touch with clients regularly
5. develop systems for my business
6. attend The Edge 2011
7. buy the SFL system with The Edge 2010 if offered again
8. pay off all debt
9. my company pays me back in full for all the money i've loaned it
10. start a self-directed IRA w/$3000
11. get my broker's license

some will be easy and some i will have to work at, but i want to be excited and have fun with this. no pressure and no stress. i think we tend to take things so seriously that we ruin the fun in it and the excitement. i want to have fun with this and i want people to see me having fun and want to get in on it with me.

let's all make 2011 our best year yet! Happy New Year to everyone and may 2011 be the start of something great for all of us.

I'm glad you finally heard from Jared. I know that was a relief.

Talk about being such a wonderful mother. I did something very similar once. I still shake my head over it. I was walking down the block from my apt to my car and I saw this very pretty girl sauntering toward me. Her hair was in a loose knot on her head and I just kept looking at her thinking she was so pretty. We passed each other and I just said "Hi" and she nodded.

I got in my car and since I had not talked to daughter #3 for a few cars decided to give her a quick call before I drove off. "Hi, Baby. Where are you?"

"Mom, I just passed you on the sidewalk!" DUH!! She never usually wears her hair up. That is the only excuse I can think of. I was staring at her and DID NOT recognize her! I still don't get that one!

Anyway, I like the idea of making my list of goals. I will have to get on that. It will take some time and contemplation. I want to keep them realistic.

Karen

Glad you got to hear from Jared.

If you would like I can share my rental agreement with you. Over the 13 years it has grown and I've added clauses due to things that have actually come up in renting. (Like the time a tenant's son took apart a car in the garage and left grease everywhere!) I'm using a generic option agreement, what ideas do you have to add to it? Would love to share ideas with you.

Hope you have a terrific New Year's eve and a very prosperous 2011!

Glad you got to hear from Jared.

If you would like I can share my rental agreement with you. Over the 13 years it has grown and I've added clauses due to things that have actually come up in renting. (Like the time a tenant's son took apart a car in the garage and left grease everywhere!) I'm using a generic option agreement, what ideas do you have to add to it? Would love to share ideas with you.

Hope you have a terrific New Year's eve and a very prosperous 2011!

so happy to "see" you. yes, it was a relief to hear from Jared. i love your story about your daughter. reminds of when my dad came to pick me up at the Indy airport when my oldest was just a baby. walked right past me and i had to call him back. i have found people will recognize my voice before they recognize my face. i guess that could be a good thing??? HAPPY NEW YEAR!

Happy New Year! great to "see" you. i would love to share ideas. i will PM you my email address since it's probably easier to go that route. talk soon.

i still can't believe today is January 01, 2011. who let that happen? my day started out very nicely, then went downhill from there. forced me to make some decisions i didn't want to make, but you gotta do what you gotta do. it showed me that i can do whatever i put my mind to and i will put my mind to what i have to do. this is my year and i won't take anything less. check out Carol Stinson's new post about 2011 being her year and be sure to read the poem. you might also want to check out 2 posts i made; one is on GOALS and the other is my New Year Wish For You. i was out driving a little to clear my head this morning and decided to go into the neighborhood from a different entrance. just about got lost. just wanted to see what was going on with houses for sale. one villa was for sale with an REA and they always sell, even if it takes a few months. i didn't see any FSBO's in here right now (just the one in the neighborhood behind me), but i will keep my eyes peeled. i want to think more like an REI every day and as i do, it helps me to be more creative in that arena. have a great weekend!

Property management is a lot of work. It demands my time which takes away from investing. Do you have specific questions? or you could call me sometime. Have a great holiday

thanks for stopping in. Happy New Year to you and your family.

yes, it sounds like property management is a lot of work. if i have some specific questions i will PM you and maybe we can talk. i'm working on getting a few deals going first.

despite a lousy night of sleep, i hit the ground running this morning. i just finished listening to a recording on wholesaling subject to's. i'm not a fan of sub to's myself and i won't be doing them, but i'm sure i can incorporate some of those ideas into working with L/O's. i have been working on my Option Agreement and will have it done before the day is out. i read something this morning that said to get post it notes and write down 4 things: the annual gross income you want this year; the monthly gross income you want; the net income you want and the difference between your net monthly income last year and what you want this year. i learned from a friend years ago that you can use dry erase markers on your bathroom mirror and it will come off with glass cleaner. so, i wrote those numbers on my mirror in the bathroom, then wrote them on sticky notes that i put in the bedroom, living room, kitchen and office where i would be sure to see them. it is supposed to help your brain kick into working it out so you make that income. we'll see how it goes. i hope to fit in a webinar this evening, at least part of it. it was recorded and they are taking it down, so i need to get to it.

is there a pattern developing here? i'm doing really well and way ahead of schedule today. last night i was working until 8:45pm, but i got that option agreement typed, proofed and corrected. i contacted another company about health insurance. i am detemined to have decent insurance at a decent price without a job! hopefully i will hear from them soon. i emailed the top lady at the Fort Wayne Association of Realtors about broker classes and the expenses involved in becoming/being a broker. hope to hear from her this week. the investor friend that wants me to be his property manager emailed and we set up a time to meet on Friday morning. the more i think about it the more concerned i get. it is a great opportunity to learn and see what a successful investor does and how he does it, but it is a lot of work for very little money. the learning is worth it, but i don't want it to interfere with my investing. i would be an independent contractor and that is what i want, but i would have to answer his calls first and put my stuff second. i plan on just being honest with him, but if anyone has any input here, i am willing to listen. i made up a very thorough checklist to follow and it should easily get me through my deals. thank goodness it was much easier and quicker than my contracts! i contacted 6 sellers through texting today. using my google voice number makes it easy and very quick. i copied and pasted the same thing for each text. one guy responded right away that the property is rented. these were from CL back in mid-December so i am not surprised. i'm also trying to get through with an almost 3-hour webinar, which helped me pick what i wanted to text to sellers. my computer is not behaving very well lately so i am going to finish my webinar and then shut down my computer for the rest of the day. i think it needs a rest. if it doesn't improve i will call the hotline number the MLS provides for free help. i also called the Team Leader at Keller/Williams. i had talked to him a couple weeks ago and never heard back. well, his wife went into premature labor and delivered early so that's understandable. he seemed glad to hear from me and i should hear back from him within a few days. i posted a T/B ad and a seller ad on CL. as usual, they left the T/B ad alone and threw out my seller ad. i do not get that at all. i will try something new on Thursday. no, i have decided not to post every day on CL because that is not working real well for me. i used a T/B ad from another DGer and we'll see if it works for me like it works for her. i really like the ad myself. i really liked my seller ad too so i will try to post it in another area. dang it!!! haven't heard from Jared for several days again. i think i need to call his General! well, back to the webinar.

Glad to hear you've completed the option paperwork. You've got some good things going on!!

About the investor/contractor hmmm ... How much time is involved for you? How will you feel if you put a potential deal on hold to help him out? Is the very little money going to be helpful in your household or just pocket change? If you imagine yourself on a typical day doing this how does it make you feel? Do you have a gut feeling of excitement about it? How is the knowledge and experience you're gaining going to benefit you and your business? Not really asking you for 'out loud' answers, just something to think about.

I'm so happy that you finally got to talk to Jared! Obviously it must feel like that was a looooong time ago. Hope you get to talk again soon.

Bummer about the C/L ad being flagged. That happens with the ads Denny runs every once in a while.

Have a wonderful 1st Wednesday tomorrow

Lea

Linda you have really taking off with a bang...I like the questions that Lea ask I wanted to know if you put a cost value on the training you are going to be receiving...Now I ask that b/c without a value you are not going to know how much it is going to mean to you or how much it does mean to you b/c there is no way you can do this general contractor job with another investor and not sacrifice your own projects and potential deals.

Not saying don't do it but, just do the work before you get started. Also is there a time fram that you are going to do this b/c your business could turn over night and start really moving and then what...do you just tell him - hey I quite!

Oh well girlfriend I know you are going to do what is best. What does your hubby think about it?

Hi Linda,
Just had this thought while reading your journal. Keep the end in mind. Know what you want to accomplish and just rearrange everything around achieving that goal.
Its crazy but when I got into REI I had no idea that I would be creating a real business. I created the business so I could do the Real Estate Investing! but at the core of it all is my intention to create a better more secure situation for me and my family.
But I did not even know about the BONUS either.
For me it is a bonus to be writing my own ticket. To make my own decisions, and to work with the people I choose to work with. WOW. Since I began Real Estate Investing I have taken on a leadership position related to some things my son is involved in. BONUS. It's because I feel at liberty to do so since I work my own hours too. I actually work MORE hours but I can do it at any time of the day (it happens to be 5:30am that I am writing this too you).
I am Sooooo busy this year. But I am doing what I want to do. I love this stuff.
Anyway, don't know where that all came from but those are my thoughts this morning!

Have a great Week!

Roger Schafer
Jaguar Investment Group

Hello Linda,

I have been reading your journal from time to time and that I would drop you a line. You are doing a good job by continuing to take action. I am a licenced broker in Ga. Keller may be a good choice they seem to have a good split / pay program as well as alot of education opportunities (in Ga. anyway, probably the same were you are). Well keep gaining knowledge and taking action and it will all come together for you.

Best Wishes!

- Dan

you ask some very good questions. i just don't see how i can manage someone else's properties and do my own deals. they only pay 10% of gross collected rents so that is not much for the amount of work, yet it is the going rate. i hate to turn him down, but i just can't see my way around it right now.

long time no "see"! the training would be invaluable but it would eat away at my own investing time. i just can't see how to make the 2 work, but i will see what he has to say Friday and go from there. i am expecting my business to turn overnight!!! i have big expectations! Chuck hasn't said too much, but i think he thinks it's a lot of work for very little money.

great to hear from you. i've been wondering about you, but after reading your journal it's obvious you have been very busy. i think your advise to "keep the end in mind" is the right path to follow. i have to focus on my journey, not someone else's. if i can help him, i will, but my stuff comes first. i like the sound of that!

thanks for stopping in. it seems to be mostly the same with Keller/Williams anywhere you go. i've talked to people in MI and CA, plus here. we just don't have a local office and i'm checking to see if i can still join them. it might not make much difference if i get my broker's license because i really want to be independent and just do my own thing. imagine that!

since Lea mentioned "1st Wednesday" i have to keep up with the theme. i am definitely keeping busy and that's good, but sometimes i amaze myself. i know that sounds weird, but a year ago i couldn't do what i'm doing physically and that shows how much improvement i've had in the last 6 months. i'm excited about that! Jared called Danelle early this morning and he is doing well. he's finally at his post and getting everything organized. he had access to a computer/internet because he posted on facebook and answered me through that. he hates being bored and has to stay busy all the time, so he is much happier now, that's for sure. no replies to emails or calls i made yesterday, which is disappointing but i know they have more to do than just deal with me. i emailed the credit repair company i want to work with to get their new pricing schedule. tomorrow i will contact one that was mentioned on that webinar. one of the speakers has mentioned it before and she has worked with them for 4 years. they are cheap and do a good job. i may have to go with them. i want to make it doable for my T/B's. i also emailed about possibly having someone help me set up my website the way it should be. not sure if that will work or not, but i hate to do it all myself. some things i can't do, but the help desk is very good about doing it for me when i can't do it or can't figure it out. i don't have much patience for that stuff. i also went through the rest of the documents i need for my L/O's so i am fairly ready. i better be. i went through craigslist today and contacted people from back to November. there aren't that many because a lot of realtors place ads under the for sale by owner section and they shouldn't be doing that. alot of mobile homes were for sale and not that many houses in the price range i'm looking for. lots of investor ads! anyway, i texted or emailed 7 and hand wrote a letter to one. after handwriting the letter it looks like this guy is an investor, but i'm mailing it anyway. i got a response from an email very quickly and now i'm all nervous. the lady was very nice and told me they hadn't thought about doing a L/O, but they would consider it. i have no idea how long their house has been on the market, but now i have to answer her email. HELP! it was a really nice email, but now i have to "confess" that i'm an investor with a real estate license. the thing is, i will tell her i am NOT looking for a listing. i think i will pretty much use my hand written letter as my response and just type it in. by the way, i'm using google voice to do my texting, so it's free coming and going, plus i can just copy and paste and do a bunch of them very quickly. right now i have set my goal as contacting 25 sellers a week. that is 100 sellers per month and you would think i would get some deals from that, wouldn't you??? well, anyway, keep your fingers crossed for me because i will be replying to the email from that nice seller and we'll see what happens. she at least seemed to know what a L/O is and sounded willing. i'm excited and nervous, mostly because i really want a deal and i don't want to be rejected. huge issue with me but i have to get thick-skinned real quick here.

I love the goals that you have set for yourself. With numbers like that you will surely get plenty of deals.

I can't believe until I read your journal I had no idea that I could text from my google phone. I love it and now I am adding that to me plan of contact.

I've got to get off the site now, I have reading to do and at least one webinar to listen to tonight.

Best of luck!!!!

Hi!

Looks like you are a busy, busy girl!

I am having the same problem as you are on my CL ads. None of my seller ads seem to ever get put up. They send back the notice saying it has been published but i can NEVER find them posted ANYWHERE!! Do they just not put them up or do they tell you they aren't going to?

This time I even put it under "Housing wanted" Here is my ad:

3BR+/2BA+ SEEKING LONG TERM LEASE

I am looking for a single family home with a LONG TERM LEASE and with an OPTION TO BUY. 3BR+/2BA+

call XXX.XXX.XXXX

Now WHY would they not publish that? It is not very different than all the other ones on there.

Karen

thanks for stopping by again. i can see you have a new attitude and are using it to the fullest. yeah, google is pretty darn good and i love that i can have the calls go to either my cell phone or home phone, so i can take the call anytime anywhere if i so choose. hope your webinar was good. i was on one last night too but i'm not spending any more money, not even $97.00!

thanks for stopping by. CL is telling me my ads are posted, but i can't find them either. i have tried the "housing wanted" section because that is what i am going for, but they take them off every time. i am going to try today in the "real estate for sale" area, but if they don't post them this time, then i will stop using CL for seller ads. maybe just contacting sellers outright is the way to go for me. who knows? we're not breaking any rules as far as i can see, but i see lots of investor ads in the "real estate for sale" section, so maybe i have to stay put in there. i like that ad and i think i might have to "steal" it. i read in your journal that you had a good meeting with a realtor. great news!

i can't believe how quickly time is still passing. it is snowing out today and i'm almost in the mood to be snowed in, but i have that meeting tomorrow. i don't think we'll have a lot of accumulation, but it is snowing and blowing out there. i think i'll stay in today and work on REI. my day started off on a rough note and i hate that. i got up 1/2 an hour late because i didn't go to sleep until really late. then Chuck was so exhausted that he could not get up and finally left for work at 9am, while i was on Skype with Danelle and her kids. so, i'm 2 hours behind as it is and then i make a really stupid mistake that i'm kicking myself for (so i don't forget and do it again) and Chuck even had to calm himself down about it. i am so focused on L/O's that i was totally off my rocker this morning! i posted an ad on Tuesday for T/B's and a guy called this morning from that ad. but, he wants to buy a house, not L/O. he wants a rehab house to live in and he and his family will do the rehab work. he has cash and wants to spend $5000-15,000. now, what would you do if you got a call like that? well, i didn't do it. instead, i told him i don't work with those types of houses and referred him to my investor friend i'm meeting with tomorrow, who happens to have a couple houses under contract that might work. do you see where i really messed up? was i thinking like an investor?? absolutely not! as Chuck reminded me, i am a realtor and an investor. i could have taken him on as a realtor client, or i could have tried to work out an investing deal. but, no, all i have been thinking about is L/O's. so....as Chuck reminded me also, i need to say i can handle that, get the info, think on it good and hard, and then make a smart decision. i am very disappointed in myself, but this is the thing - i get these calls that i'm advertising for and i'm so shocked when someone actually calls me that i lose all sense! duh! now, i do have some better news after messing up so bad. i was getting ready to email the Seller who emailed me back yesterday interested in a L/O. for some reason i was dragging my feet because i wanted my email to be just right. well, she called me and i'm so glad she did. very nice young woman and they seem really interested, but they also have the property listed with a realtor, which the CL ad did not state. they are not happy having it listed and it has been listed over a year with 2 realtors. i told her i'm a realtor and i'm not asking for a listing; i'm looking for an investment deal. i told her i cannot ask for her business as a realtor because she's with someone else and that they have the right to cancel if they are not happy. i also said if they want to stay with the realtor then they will have to pay her commission, which is fine either way with me. since it's not a sale until the T/B actually buys the house, they can offer the realtor money to walk away or part of her commission up front and the rest when the house actually sells. the house is in a good area and they have done some work on it, like all new windows 3 years ago and all the appliances stay. the house is vacant because the husband got a job in Cincinnati 2 years ago and the wife and kids live in Muncie, IN with her parents. they had tenants but it only lasted 4 months. they are willing to just get the payments covered so they can all be together. anyway, i asked if i could send over my little "spiel" about L/O's and the 2 forms i would need her to fill out. she said yes and will talk to her husband about them. i sent everything right over. whether it works out or not, it's so exciting to actually talk to someone who is interested and very pleasant to talk to. hey, maybe this really works! i want to contact my 5 sellers this afternoon, check out another credit repair company and contact a company i can do background checks, etc., with. the prices are reasonable and it sounds pretty good. so, who knows what can happen in the next few days!

WOW Linda you are really moving along. I wish you would have held that client for yourself so you could cash in on a deal. But more will come your way
Keep that positive attitude going, you have a lot of knowledge and it will pay off when you find the right deal for you.
best of luck.
Richie

Richie's right you are on fire!! Next time this opportunity comes around (and there will be a next time ) you'll do fantastic!!

Lea

thanks for stopping in. i know you are so busy. i wish i would have kept that client too, but hopefully i'll remember to think outside the box next time. the investor told me today that if they do a deal with my referral, he'll send something my way. hopefully it will be money, but a box of chocolate-covered cherries would be great too!!! kind of an inside joke. anyway, i'll have to use my head next time.

i always appreciate your encouragement. just gotta get past that tunnel vision. it took me forever to get focused and now i'm too focused. there has to be some balance in there somewhere.