Linda's (from Indiana) Journal

thank you and i'm working on it. up and around a little today, but watching it. i have my REI club meeting tomorrow morning and i feel i have to be there, as well as want to be. i definitely think i look a lot better with my medals.

how is Scott's wife doing? i hope all is well.

i am taking care of myself, maybe a little too much, but i know how it goes with me. i am doing better, but just going slow. thanks for your support.

i'm up for a little bit again so i have to be on the DG website. i am keeping a good eye on the World Cup Soccer games. our game with Slovenia was way too nerve-wracking and the ref made some very questionable calls, including taking back a US goal that shouldn't have been. i'd say that's about the only game where i would have complained about the reffing, and that's pretty good. the US is still in the game, so to speak, but we are going to have to play a lot better from now on. we need to work on our teamwork; too many stars out there not concerned about the rest of the team, only about their careers. it's been an ongoing problem from the beginning with the men's team. my 2 youngest played soccer and Chuck's son played with 2 MLS players who are now playing overseas. all of this reminds me that we have to look at the whole picture in anything we do, not just at what we want. while we are out there trying to make a living in REI, we have to make it a win-win-win for everyone involved and not just for ourselves. we are all part of a team and life, as well as soccer, is a team sport. i have been reading a lot of other journals and posts on this website and i have come to what i think is a very important conclusion, despite most of what i've been taught. we are almost always taught to find buyers first, then get a deal. well, i have been working on that for the last few months and i've had a bit of success, but nothing like what i've heard for other people. i have been saying that i probably need to find the deal first, then the buyers will come. i'm beginning to believe that more than ever. what i'm seeing is that people who have gone right out and gotten their first deals are mostly the ones who just went and found a deal, then they got their buyers. i'm not saying it won't work the other way, but i like doing things differently anyway and i usually do, intentionally or not. i don't like running ghost ads because it makes me feel very uncomfortable, almost like i'm lying. i've had very few results from it. i've got these people on my buyers list, but don't have anything to offer them. i need to spend more time finding good deals, lock them up and go from there. i have one in mind for a lease/option, but it is probably in the $250,000.00 range, which is a very nice home and would require a higher nonrefundable option consideration. the house is only 2 years old and they are selling it as a FSBO, so it's possible it's upside down. the nice thing is it's in our neighborhood and i would be able to keep an eye on it all the time because we drive by it a lot. another thing i've noticed on this website is how creative you investors really are. if a deal doesn't work one way, you'll find another way and keep doing that until it usually works out. i'm impressed. that is how i have to think. now i have to face 2 things: the fear of not knowing what to do to convince a seller to do the deal with me and the fear of what if i get the property. why do you think i have been laying such a solid foundation and not really going after any deals? well, now that all has to change and change quickly. this being sick and having time to think and read can be detrimental to self-sabotage!!!

Have fun at your REI meeting tomorrow but be sure to take it easy too.

It was great talking to you today as always.

I just e-mailed you the paperwork we talked about. Denny picked up a little bag of Fritos for me today

Lea
SPR Property Solutions, LLC

you don't know how much good your call did me. i had thought all week it would be nice to talk to you again and then it happened. i will get to work on that paperwork and send it back as soon as i can. thanks. how did the Fritos work out? i got my KFC and it really hit the spot! now i want a big burrito! you would think food is all i think about!

we had some hard rain and wind last night, although i don't think it lasted long. either that or i slept right through it. i'm doing better today, but i can still feel that i need to watch it. i had my REI club meeting today and that always gets me going. our speaker was a member of our club and he has been a property manager (and very successful at it) for 19 years. he did a great presentation and was very funny (sometimes not intentionally), like when he talked about having multiple partners (he meant multiple unrelated tenants). we really gave him a hard time about that. we had 9 new visitors today and that was really nice. i am waiting to hear back on whether i can show a house tonight at 5pm. i left a message and sent an email to the realtor. it's really late notice, but i got the email from the client as i was crawling into bed last night and then i had my meeting first thing this morning. we'll see what happens. after my meeting i went over to see my sister, Shelly. she and her husband have moved into my parents' house and are rehabbing it. they have some of each room done, except they are pretty well done with their little girl's room. my sister actually is a very good decorator and i have tried to talk her into setting up a staging business where she will stage our houses for us. anyway, today i told her she has to work on her decorating skills since the house is still such a wreck. actually, what they do have done is very nice, but i had to give her a hard time. i was talking to 2 investors at my meeting and told them that i needed to quit laying my foundation now and start looking for deals. i explained that i hadn't done that before because i actually might find a deal. they both looked at me like i was from another planet and said "isn't that the idea?" duh!! i'm like, if i get a deal, then what do i do? they're like "sell it". gee, why didn't i think of that? duh again!! we had a good laugh at me. well, i have to go watch some World Cup Soccer. i taped this morning's games so i could find out the scores and i'm gonna rest a little and wait to hear back from that realtor. hopefully i hear something soon; today would be a good day to show the property. one more thing....that house my clients wanted to bid on that had the 2" of water in the basement and mold up the basement walls got an accepted bid yesterday. the original list price was $64,000, dropped to $51,200. they accepted a bid for $28,777 and i figure that was an investor because most people won't make up a bid like that; they like even numbers usually. i think it was still way too high with all the water and mold, but we are learning.

Glad you got the KFC LOL! Next on the list a buritto. The fritos were great!

Sounds like your REI meeting went well. Did you end up showing the property at 5 tonight?

I'm sure you will find an even better fitting property for your clients than the mold property.

Lea
SPR Property Solutions, LLC

i'm cracking up reading your post. i got a big burrito last night but it wasn't too good. so much for that idea. i just can't get used to the Mexican food here. i'm missing my good Tulsa Mexican restaurants and fast food. i'll be there in September when Danelle has her baby, so i will have to work my way through them all. i did show some properties last night and we got home after 8pm. found another really moldy property. don't you just love it???

we had Chuck's dad, daughter and son-in-law over for lunch today. it was outstanding. i'm not sure i can understand cooking at home for Father's Day, but it was really good. Chuck grilled/cooked and i did the cleanup. last night i showed 4 properties. the first one we went into was really nasty. smelled like cat urine and wet dog hair. lots of mold in the basement because it had 42" of water in it twice this year. the neighbor came over and talked with us and told us all about it. she also recommended a HUD house 2 doors down so we looked at it too. it was a 2-story that basically needs cosmetics like landscaping, paint and carpet. very roomy and 4/2.5 house with 2-car garage. it's really nice that HUD has a key for the houses and one for the storage buildings and then you can basically get into any of their houses without making an appointment. you just go and get in. i do love that. i don't think my clients were really moved by any house last night, but they are still reeling from the house they wanted having an accepted bid on it late Friday night. they are new at this and i think they got a little emotionally involved, but they are moving forward. that's what we all need to do. the rest of today will be spent on laundry, World Cup Soccer, resting and filling out some paper work for a possible deal. we'll see what happens with everything. i hope everyone has a wonderful day and takes off running with deals this coming week!

You & your clients will find the right house for them. The other one wasn't meant to be as disappointing as it is but could be a blessing in disguise.

Is it normal to find homes with mold in your area or just a coincidence? You just never know what you'll find in these properties. The house that smells of cat urine & dog hair could be a great fixer upper since a lot of folks can't see beyond that. I'm not sure about removing the mold and how involved that is.

Hey Linda, since the restaurants in your area don't have Mexican food to fit your taste maybe you'll just have to start cooking them yourself?! Oooops, I used the dreaded 'C' word LOL!

Talk to you soon.

Lea
SPR Property Solutions, LLC

these foreclosed houses here get mold when the basements get water in them because there is no electricity and the sump pumps can't work. yes, you are right about the cat urine and dog hair. 2 friends of mine in Tulsa have bought a poop house and a pee house; we laugh about them but they made them money. i told my clients we have pet shop owners in our REI club that will help with the smells, which they were fine with, but they just plain weren't "into" the house. we have 2 more to look at tomorrow night.

that is really nasty, mentioning that "C" word. i may have to recover from just the thought!

i sent you an email this morning. hopefully will have more to email tomorrow.

it's kind of ugly outside right now. more rain. i am posting early because i have biofeedback this afternoon and that will take care of the rest of my work day. i am so looking forward to bio; i always need it. i just got approved for google voice and so i am getting that all set up. you have to be invited and i have been waiting since January for approval. you set up one number and then you can have it ring all your phones, your voice mails are in transcript to your email, etc. lots of cool features and it's free. i will be changing my business cards, etc. to show that number from now on. that way it is used by everyone and can still ring to my phones, but no private information is available. i got to choose a number using the letters REI, so the last 4 digits are 5REI. i love it! i also need to look for my magic jack so i can use that if i want to. i put it in a very safe place and now i can't find it either. i set up 2 more showings for my clients tomorrow evening. one we are meeting with our HVAC guy because it has no air conditioning and needs work on the heating. i had a good talk with my sales manager from the brokerage today. i feel better about things and he is always really good about being available to help me and explain things to me. i found out more about the HUD process and you can't submit an offer package or justify your bid because everything is done electronically. if they don't accept your offer, you can resubmit it or a new one. every HUD listing is different and handled a little differently. they do offer an opportunity to do an inspection, which is good. they accept the offer or not, period. i also got more information about a short sale and hopefully will get the rest of the information tomorrow. i contacted an investor again because my first email did not go through. now, for some interesting news.....the house we decided not to make an offer on because we might break even.....the bank dropped the price from $54,900 to $39,900 and Chuck said let's make an offer on it. yes, we are going to low ball it because that's the only way to do it on this property. if we get it, fine; if we don't, fine. the listing broker doesn't want an offer package, which bothers me a little. she only wants us to email or fax the offer. we are thinking about making an all cash offer with no contingencies and close in 7-10 days. lenders do like to see that and this house has been on the books for a while and no other offers so far. i can't say that this would be "my" deal because Chuck is actually doing it, but at least i would be in on it. i'm not sure if we can make it a deal for me, but i can live with that if i have to. talk about adventures in real estate. we are meeting with my sales manager Thursday evening to draw up the offer; we couldn't work it into our schedule before then. i am excited, to say the least.

I wish you the best with the property Chuck and you are putting an offer on.

That's good news about talking with your sales manager today and that he is available for you.

Lastly, sorry for tarnishing your journal with the 'C' word. LOL What was I thinking?!

Lea
SPR Property Solutions, LLC

Now if you set up Google Voice can that number be listed in the local phone book? I'm reading about business credit and the book I'm reading says you need to be listed.

i really don't know because i haven't thought about it, but it's your number so i really don't know why you couldn't list it. you would probably have to read through their terms and conditions, although again, i can't see why you can't list it. again it's your number. am i rambling???

talked to my coach today and she had to kick me a good one. man, am i repentant. i just got way off track and she gave me some huge assignments to get me back on track. she was very nice and encouraging, as usual, but also very firm. she told me i am right on the verge of getting a deal and i am just going to have to push through. i just really got side-tracked. so now i am back on the straight and narrow. i have to get my priorities straight. i went and got my oil changed this morning, then later met Chuck for lunch. we talked about our offer on Thursday and how we're going to do it. i said "what if we get the offer accepted?" he said that i always say not to worry about, the money will come and it will all work out. i'm like "since when did you start listening to me?" i still cannot figure out where i put my Magic Jack. i have looked everywhere i can possibly think of, so now it's gonna have to find me. i have not heard back from the realtor on the short sale possibility. i want to give her a little time because this is her dad she's representing, and she may have to do a little research to find the information. i know that she was uncomfortable with the questions i asked, but she has to face that whether it's me or someone else. i did run some quick comps on it and the BPO is probably close to the highest possible price. i am showing 2 properties tonight. i know my clients are anxious to find something. my coach told me not to chase properties for myself; make the offers first. when they get accepted, then go check them out. i agree with that, but i'm struggling about the earnest money. she told me to put in the contract that i will give the earnest money upon acceptance of offer. except that i don't have earnest money, so i need to find properties not on the MLS. i might be able to borrow it from Chuck, but i hate to do that. I plan to go after expired listings and rentals and see what i can do with lease/options as well as assignments. gotta get over that fear!

thanks for the encouragement. i hope i can get past that "C" word. at least i won't be doing it tonight! showing houses keeps me from cooking (oops!) because we get home too late and i don't like eating late. leftovers again!

sorry for chewing in your ear last night while we were talking. i tried to be lady-like, but i'm not sure that's even possible for me. at least last night's house showings seem to have paid off a little. we'll see how it all works out. hope you're having a great week!

Linda, I wouldn't have even known you were catching a quick meal before showing properties if you hadn't mentioned it. A girl works better with a full stomach I am happy to hear that last night's showings went well!!

Lea
SPR Property Solutions, LLC

well, thank you. at least i hope i wasn't smacking my lips real loud and eating with my mouth open. you can't take me anywhere and not feed me.

where do i start? i heard back from the realtor with the short sale. she got me the information i needed and i have passed it on. she seemed to really appreciate that someone took an interest in trying to help her dad out of a bad situation. my clients want to make an offer on a HUD property we looked at last night. they really like it. they are going to make a low offer because it needs a lot of work. the ceiling in the living room is about to fall in from a bad roof and water damage. plenty of mold on the ceiling. the information from HUD states there is some foundation problem too. they are so excited to make the bid. we have tried to find out if my clients can have an inspection period for the HUD house and we are not finding out. i have left a message, but no call. i will try to email. for anyone who doesn't know, HUD actually has a contractor that takes care of things now and the website is www.hmbiweb.com. i will meet with my sales manager tomorrow at 4pm to take care of that, then we work on our bid at 5:15pm. before i forget, the USA won their class for the first time since 1930 in the World Cup this morning. they scored another goal right off the bat that was called back for offsides, but they were not offsides (according to the replay). the winning goal was scored in stoppage time. my son and i got to watch it "together" and he texted me when they scored. England won their game and moves on. i am watching to see what happens with Germany right now. i am a big soccer fan and it's something that my son and i can talk about at length because i helped coach when the coaches were gone and i helped train my son with lots of practice when he decided he would master the sport at 7 years old. he is my man of faith and my example to go after what you want and do not plan for anything but success. that is the way he lives his life. okay, back to real estate....i have several things to work on tomorrow for our offer. i might get a few things done tonight, but we'll see how my time goes. i called a CPA that came highly recommended to me. we had a nice talk and i like him all ready. we are going to meet later in July, when he has more time available and isn't so rushed. i was lucky to reach him by phone today, but he gave me his email too and answered a question for me concerning how to have my broker write my checks out to me. i did go back to my studies with the Academy and i'm glad i did. i am having problems with the courses i've finished not being shown as finished and some of the questions on almost every quiz are wrong. i have notified them of it, as well as my coach. i hope they get it fixed. i have spent a lot of money to do this and i would like it to be right. i'm very picky that way. i finished setting up Google Voice and i want to change all my numbers over to that and just have that as my basic phone # for everything except for my credit cards, etc. i really like the way it's working and what it can do. Germany just won their class.

I signed up for Google Voice too! It's such an awesome feature to have and quite imperative in this field.

Thank you so much for sharing and posting up your experiences. I'm currently just starting in this aspect of real estate (investing) and i'm excited yet nervous at the same time.

I really wish I had the funds to sign up for the Academy. Unfortunately I have to wait a few months and it's rather disappointing because they're holding the WHOLESALE course out here in Vegas this month!

Can't wait to hear the rest of your journey and thanks again for sharing!!

thank you for stopping by. yes, i am just getting used to Google Voice. you may have to give me some pointers on it. it is exciting, though. best wishes with your investing adventures. i will bookmark your journal so i can keep up with you.

boy, i'm feeling really brave here right now! i have been studying and researching on this property we are offering on tonight. i found out some interesting things doing my due diligence. never forget to do it!!! it has a code violation that is added into the back taxes and interest is 10% every time an installment passes and it's not paid. we pay taxes here in May and November. this property is 4 installments behind and right now $3709.80 is owed on it. the next tax sale is in September, and this property will be going to the tax sale (per the Treasurer's office) in September if the taxes are not brought up to date. i can't believe they would do that since the bank possesses it, but the guy said yes, they will take it for the tax sale if the taxes are not paid up before September. usually if you are 3 installments behind, they take it. so....we are going to make the offer, but with a few very nice requests, thanks to Joe Jurek. my sales manager might want to kick me a good one after tonight. we are requesting these things: all taxes, bills, liens, etc., brought up to date and paid in full through closing; clear title, mainly a general warranty deed here; and we will pay cash and close in 7-10 days with our title company. if they won't do this, we will wait for the certified tax sale list to be online in July and then try to buy it in September at the tax sale. there is no money in the deal for us to pay all that back stuff and the bank has had it for 1-2 years. it is normal that they don't pay any of it, but after paying the $50,000-80,000 to foreclose on it, now they face losing it to the tax sale and being in the hole anyway. why not sell it to us and make sure it's taken care of. of course, they don't think that way and i'm not sure we have a way to be sure the broker even presents the offer. no matter what, it's good practice and at least we are doing something and definitely thinking outside the box! i'm all set for the HUD offer for my client, but i suggested she do her due diligence too and gave her all the numbers to call. i'm really gonna have to rest up after all this. at least i am getting dinner out. yippee!!! hey, Lea, no "C" word again tonight!

Thanks for sharing your info about the bank owned properties and how it's handled when the taxes aren't paid in your neck of the woods. I'm surprised it would be set up like this. Good research on your part.

I wish you the best on your offer and think it's great that you are firm on the price and know what you want. I'm looking forward to hearing all about this.

Hope you had a great dinner!

Will call you tomorrow.

Lea
SPR Property Solutions, LLC

Nice work, doing that homework and callobrating with other DGers really pays off when you are working on a deal.

Linda, what area of Indiana are you investing in?

Bruce

thanks for the good thoughts. i finally got the offer sent and my car is now running. i was very careful when i got back home with my keys and all. great to talk to you as always. i hope the next time we talk my brain is working better. sheesh!

thank you. doing your due diligence can certainly be interesting and educational.

i'm in Fort Wayne. where are you?