PhillyStan Journal - It has begun....

I just finished placing my first craiglist ad. This ad is target for investors. I am looking to build my buyers list. I don't know if I was suppose to build my buyers or sellers first but I started with my buyers list.

I even create a extension on my 800 number geared towards my craiglist marketing. #2

here is my title: Attention - Investors Needed for Multiple Investment Properties

I am excited. this is the first of many ads to come.

Stan

Stan,

I am located in Philly as well. Looks like you are off to a good start so far. I too am looking for REI clubs to tap into. PM me if you are would like to meet up sometime and brainstorm. I'm looking to partner with like-minded individuals.

SEE YOU AT THE TOP!

Arinya

Definitely Arinya,

I am trying to get up things up running. I am glad I found someone in Philly. I was beginning to feel lonely on site. lol
Anyways looking forward to talking to you soon.
Stan

Well it's been 6 days since my last update. Here is what happened.
1. I had to reorder my business cards from vista print because the company that was supplying me the 1-800 number changed my number. So I had to change my cards to the ones with new numbers. I have added the new one below.

the bad version and the good version of the cards both came. So I am happy about that.

Next I have been posting ads on craiglist for agents, buyers, sellers and investor.

So far in the last 6 days.
I now have.
5 potential buyers/investors
1 seller
1 whole seller
2 agents contacted me but only 1 has been the one that wanted to work with me after both of them a copy of my modified Matt Finding a agent letter.

I also have 1 person leave me a message with a property on my 1800 number with a income property for 100,000K +. I haven't gotten back to them yet because at the time this was day two of my marketing and I was a little bit intimidated. I think I will contact them tomorrow for more info and see what the deal is really about.

I also have been chatting my new agent via email and he seem eager to find me deals. So I hope this because a long partnership.

I also have a lot of zip codes in the Philadelphia sent to me by investors/buyers. This tells me two things. One these zip codes are what they want and two,these zip codes have properties that might sell or rent fast.

I am excited . It's been a great week. I have been reading more from dg.com. Learning a lot. And I will continue to do so. I haven't had time to read the be a millionaire book. I am still on pg 20 or so.

until next time.
Stanley
ps. I buy properties for cash. See my business card. Leave me a message if you are in the Philly area or surrounding counties.

Tomorrow I will be going out handing out business cards to friends, family and others. I gave out about 30 today but I still have 200 more to go. I will also be ordering some blank bandit signs so I can add my message on them.

Stan

Today I emailed out a couple of deals to my buyers list. I found a partner...actually he found me and we are working to move a deal together. We will see what happens. I feel like something is coming. Don't know what, but I feel something big is coming...
Stan
oh yeah, heading to staples later today to buy some boards and markers so I can start making my signs.

Hey Stanley!

Welcome to the family! Wow, you picked a pretty appropriate date to start reading Dean's book! If you're looking for DG "relatives" in the Philly area, get in touch with FreeIndeed (Carol Stinson) and Flipboy (Larry Ferriola). Did you join the investors club in South Jersey? They meet in Collingswood and a lot of Philly investors and real estate people are members there.

Vincent

Hi Stan,

I'm close to Philly also maybe you Arinya and I can brainstorm and work the business together. you will be a great role model.

Helena

Hey Vincent,
No, I did not join the investors club in south jersey but I will now. I was wondering why I couldn't find no clubs for Philly members. I guess I have to head over to jersey to get in on the action. Thank you for that. And yes I picked that date because it's tax day. I even wrote the date on the first page of the book before I started reading it. Easy to remember. By next tax date. I am hoping to have done a lot of deals by then.

Thanx Vincent,

Stan

Helena, I am still learning day by day. Love to brainstorm with you guys.
Just pm me and we can exchange info and talk some more when you're ready.
Stan

4 days ago my agent ed sent me a mls listing with some properties. I saw a property right around my neighborhood. 5 minutes away from my house to be exact. Every since then Ed has been trying to get hold of the listing agent to get more info on the property but the agent is never available to talk. So they are just playing voicemail tag.

The property is listed at 65k
I went to look at it and it looks great but that's just looking at it from the outside.

The comp around the area is 115K plus.
Last november a house 2 doors down sold for 115K+
each of the homes sold in the past 6 months in the area has sold for over 100K+
by the way. Ed is great. Everything I ask him to provide me he does and he does it FAST. I can't wait to get and close a deal so I can get him to start making some commission.

anyways, We are still waiting on the listing agent because we aren't sure if the house is in pre-forclosure or not because Ed checked and it's not bank owned.

This maybe a deal but for now we are waiting. I will keep you updated.

ps.
never made it to staples today. but I handed out more business cards. I left them on ATM's and in a supermarket as well. I will try to go there early 2mmrrw.

Stan

Hi,
Today I added some more extension numbers to my 1800 number. I am adding extensions so I can better track my marketing campaigns. I also create a custom voice mail for each type of campaigns as well. Example. if you press ex 2: it will start by saying. Thank you for checking out my craiglist ads.... blah, blah,blah.. lol

Tonight I will be placing my first 2 signage around my around. It's a busy express way so I know it will be seen by many cars when they stop at the light where my signs will be at.
Can't wait to see if I get any calls.

I also read 2 chapters of Be a Real estate milli... as well.
wish me luck.

Stan

Welcome Stan to the DG family. I just started a little over a month ago with the coaching. Your running circles around me. It sounds like your going to be on the road to riches very quickly. Congrats! your certainly full steam ahead. Good Luck in your new adventure and I'll have to keep following you to see how your doing. Take Care & God Bless. Beth

I have a bunch of Philly properties, all turnkey condition and ready to move pronto.

Stan, remember when I told you that I can save you money with not paying commission fees??? Here they are so use the contact info I gave you

Thank You Beth,
I will try to continue to make things happen.

Elixbrown,
I don't have any contact info. I check my inbox and I don't see. Can you resend that to me. Thank You.
Stan

Here what's new in the last five days.
Problem - My sign has generated.. NO calls. yeah. none.
Solution - I guess I need to add more signs in better locations.

Problem - Me and my agent have been trying to contact the listing agent of a property that's listed near my near my house to schedule a appointment and to get more info about the property. The lady refuses to call us back. We left over 50 messages on her voicemail.

My agent finally reach someone in her office about the property and we schedule something up for this friday at noon.

I told him today. If this appointment don't happen then we are moving on to look for other properties.
I am really interested about this property because the comps in the area are high and the selling price is low... anyways, I will updated you guys friday on that.

Next I have been speaking to a fellow investor name Sean that has been giving me some tips and advice. I am even trying to sell one of his properties to my buyers list. If I sell it I will get a referral fee. So far no takers.

I have a close friend and his mom that are looking to buy a property. I am trying to find them something because they want to move within the next month or so. I told them to go get pre-qualified first so I can no how much they are working with and I can target my search for their price range. So I am waiting on them to get back with me with that info. *** this maybe turn out to be my first deal but I will wait and see how things play out.

I am still looking on Craiglist for motivated sellers but none have been found as of yet. Yesterday I contacted quite a few investors that was selling properties or looking to buy properties on craiglist about the deal that sean is selling but only one got back to me asking for the specs of the deal. I forwared the info but nothing yet... so I will keep on plugin.

So far this week has been un eventful but I will keep on doing things.
Well, that's it.

oh yeah. Today I am on my way to go meet up with my aunt in about 2 hours so she can explain a lease option deal that she is working out with a buyer of hers. She is a investor as well.

Right now I figure if I can't sell or buy anything then I will just keep learning as much as possible. SO I am seeking out any and everyone that has or had done something in the REI game for Q and A's sit downs or phone conversation.

okay.

Stan

last week suck.
The house that I wanted to go see. Nothing happen. We could never get a confirm date to see the property.

LAST WEEK SUCKED.... OKAY

SO I am moving on. New week. New plan.

Well I just watch the video from dean. - Weekly Video Blog #77
and I followed his instructions.

I just emailed two of my agents. this exact email below

------------

Hi (name)

I have a two questions.

Do you know which are the hot areas where property is being sold and bought the most in Philadelphia right now?

Second.
In that area would it be possible to pull the last six months of all cash transaction in that hot area?

Thanks
Stan

--------
So I will wait and see to hear back from them.
I need to wholesale some deals. It's crazy.

Stan

I see you on your grind! lol .... im in the same boat as you, just starting although I'm part of the Academy.. just keep going and good luck with everything. I'll see you at the top!

220* & 221* Oxford St(2 shells)

554* Master St

512* Germantown Ave

605* Callowhill St

153* S. 30th St

Several vacant lots

All properties income producing

These properties are the ownership of my broker. First come first save basis.

If there is interest let me know

Well, No big news from the past couple of days. Today I just emailed all my buyers list some new properties that a fellow whole seller had sent me. The way i see now is if I can't find the deals I might as well try to get paid to sell other deals from other people. It will all add up in the end.

I also place a new ad on craiglist today looking for more buyers to add to my list.

one emailed me within 5 minutes of my ad going live on craiglist. wow.
The buyers are out there, the sellers are out there. I just have to get better at matching the two together. I know once I do. I will start getting paid.

Well, I am going to go read new some post on dg.

Stan

the new ad that I just placed on craiglist is bringing buyers out the wood work. Once I finished typing my last post i went to my email and I had 5 new emails waiting from new buyers.

I sent them the email that I just sent to my list earlier and 3 of them got back to me asking for more details and pics about the 2 properties that I have...

could it be....

hum,

Stan

It's funny how many questions investors ask that I would have never taught of. My real easte knowledge is building just from the questions these guys and gals are asking me.

example>

is the property in a lock box
what's sq footage,
what's the taxes and insurance
are they rented,
can you recommend a property manager,

seriously.. wow.

I love this business. I am excited.
And to think today I woke up feeling like nothing was happening and today with just a few emails to my investors club email list that I found on meetup.com and a simple post on craiglist titled.

FSBO - Help - I need to sell fast - Price reduced

and bam. I am getting more action than a senator... lol

Stan

Hey Stan, you are just blowing my mind as I read your journal. I'm another guy in Philly trying to do my thing, but you are lightin' it up, bro'! I'm with the rest of the crew when I say we need to do a sit down... all of us together. This can be incredible. I will PM you my info and see when we can do this thing. I love what I am reading, though. Keep it up and BELIEVE!!

Ogal

quick update:

I have my request for an appointment to show one of the houses that I emailed about yesterday. It's funny because everyone is asking about this property on earp street so that tells me this is a good area to look for properties in.
anyways, we'll see what happens

Also my buyers list is building. Today I had 3 more names added to my list from my craiglist ad and from my REI club email that I sent out. I also have a new RE agent that contacted me about working with me. We just spoke on the phone He works primary with investors so I sent him my list and he will do his research on those properties and get back with me tommrrw.

I feel it. Even if I don't make a deal on those properties, over the last couple of days I really realize and confirmed to myself that this is what I want to do and REI is where I am going to make living.

I luv it.
Stan
ps,
craiglist in your city is a gold mine for buyers and sellers. Use it.

Just had my first CONFIRMED Appointment for Monday about the Earp street property. I told you this property is hot.
We'll see.

Also here is a quick story.

Here is how I met this whole seller that I am working with now.
One day I was driving around town. Stopped at a red light. Saw a we buy houses sign. Called it cause I was curious listen to the message till the light turned green then hung up.

a week later some guy called me asking me about the call that I made to the 1 800 number. He was asking me all these questions and at the time I was nervous but I held my own and answered the questions he asked.
Then he told me to email him my list.

I had one property that I was trying to move with another whole seller, then two days later he emailed me his list and that's how this all started.

So lesson learned here is that everything that I read on DG and the book should be followed to a T.

Just imagined if I didn't stop at that red light. or I didn't call the number cause I was curious to see if he was a DG member in my area.

okay. I got to go get something to eat. I warmed up my food 1 hour ago and I've yet to go get it.

Stan

Hey,

I just emailed my agent to ask him to get in contact with the selling agent of a potential short sale property that I am very interested in. The house is listed at 40,000.

I did some initial comps and I see that the neighborhood is worth 105,000 - 115,000 FMV.

but I asked my agent to give me some concrete numbers.
There is a house that's 6 houses up on the same side of the street that's being offered for sale right now at 119,000.

So I figure if I can get this property, fix and flip the I would make at least some good profit but I haven run any numbers yet. I think the potential for profit is there though.

So... I am curious to find out if I can bid on this property and see what I can do with it. I don't have no money but I won't let that stop me. I will be reading everything I can on finding financing and short sale related deals to find out how I can get this property provided that I would get a bid accepted.

we'll see

Stan

So day before yesterday my agent sent me a email with all the homes that closed in the last 6 months from the zip code that the property was in. I look at them and I couldn't come up with a comp that good enough because none of the homes (98 of them) was not close enough to the house that I wanted to buy.

So I emailed Ed again and told him about it. He emailed back saying he would go research some more and see see if he couldn't find properties that was in my block or near by.

Well yesterday he sent me another email with two properties that was sold from the exact block a few doors up and one a few doors down.
1 house sold for 89,000+
and the sold for 97,000+
on the description on the mls each home was noted as saying... seller is selling way bellow FMV . The other said. Home needs repair. And both homes needed some repair. So I think that's why they

Well I happy to see that because I kinda felt that this block is worth more thank 100K

later on my ed emailed me and said the status on the listing went to Active/no showing. He also left a message on the selling agent voicemail.

So I don't know what that really means. SO I am playing the wait and see game.
This house is a short sale and I want it. That's all I know.

Anyways unlike the last property I tried to go see, I am not waiting. I am looking at new properties everyday on the mls to see what I can find.

by the way.
Monday at 10.30 am is when I am scheduled to meet with a potential buyer to show him a property that me and another whole seller is working on. Wish me luck. I will let you know about how it went later.

Stan

well, I am finally getting off the computer now. I have been on since my last post. I didn't go to sleep last night. I have been reading Indiana Joe's journal from page 1 to page 9. And before than I read another journal from page 1 to page it. I even found a lending source from that journal. It's been so many hours, I can't even remember the name of the first journal I read. I just know I learned so much from 11pm to 6am today that it's just ridiculous.

Well only 4 more hours till my I have to go show that property. So I am off .. I swore I said those words 7 hours ago, but this time. I am getting of dg and turning off the pc. my eyes are red and my head is spinning with ideas for future REI deals.

Stan

Keep on it, Stan, you're headed in the right direction!!

Vincent

Just so everyone know. I haven't been gone from DG. I have been gone from updating my journal. I have been so busy in the last two weeks that it makes no sense. Only thing I had time to do was to come to dg.com for an hour a day to read and comment on some posts on the forum. That's all I've been doing in the last two weeks.

So let's start.. I am going to start from monday.

on Monday 5-24-2010 , I had a appointment to meet with a guy to show a property to another guy.
Guy 1 - wholeseller is Diego
guy 2 - buyer is Steve

by the way, I have never met either one of them.

okay.
I was suppose to meet diego and steve at 10.30 am in south philly to show property. I did not sleep that morning as you know to excited. I took the train (L) and then the bus (can't remember) to go over there and got there at 10 am before anyone. When I got to the block > i text diego to let him know that I am there and I am waiting for him. *** no answer

I saw the exterior of the property . I had a note book with me, so I took notes.

I looked at the front, the side, the block. I couldn't access the back cause of the adjoining lot that had a gate blocking it off.

after I did that I went across the street and sat down in a park bench and waited for diego and steve to arrive.

around 10.14 a car pulled up at the top of the block and park but no one got out. I kinda figured that might be steve because it was a truck that rei would drive.

10.28 came. Guy gets out the truck and walk over to the house so I got up and walked up to him. I figured since he didn't have keys to go in the house it must be steve the buyer.

I said. Excuse me .. Are you Steve? yes replied..
moving on. so we chat a bit, while we both waited for diego
10.45 came and no diego.
steve started to ask me about where he might be. I said I don't know he was suppose to meet us there. I tried calling diego and texting him again.
still no diego.. ( WHERE IN THE WORLD IS CARMEN SAN DIEGO...) YOU GET IT.

well steve was very nice. He was a very seasoned invested that has bought over 100 properties . he works with a partner and they have their own access to funds, etc. to pass the time i started asking him questions about investing. He told me what to look for, how to look for it. he told me more info on assigning properties. He even shared a story of how a guy he just dealt with walked away with 22k after assigning two properties to him and his partner. That's when I knew I was in the right business.

10.55 came and wait ... what is that I hear.. is my phone vibrating. yes it is.
its a text from diego..

" oh ****, i said monday morning. i forgot , aw #%^@* how did I forget. I am at work till 2pm... "
wait.. here comes another text..

you should have called me last night and double book. * this means I was suppose to call him sunday night.

but diego called me saturday at 5 pm and confirmed with me about if my buyer and I will be there.

so I apologize to steve for wasting his time but thanked him for all the lessons he taught me and he told me to call his partner and reschedule for him to come out. So we re scheduled for the following wednesday.

SO i left and went home. on my way back I managed to fill my notebook with 3 pages of notes from what steve had told me. He was the first one to tell me that south philly was hot for buyer right now. Ever since then I had 4 separate buyers i found on craiglist asking me about if I have south philly properties to sell.

so i started my journey back to the bus stop and then diego calls me.. ( what no text)

did you talk to him, will he come back to see it later today?????
no diego, we reschedule for wednesday

I talk to diego and let him know about it monday afternoon.

I talked to diego on tuesday.
I texted diego on tuesday night to confirm. he text me back .. Diego even tells me about another property he has under contract right around the corner and we can show it to steve as well and split the fee for both properties. *naturally, I was stoked... wouldn't you. first time deal...

I text diego back on ...WEDNESDAY TO CONFIRM FOR THE 3PM APPOINTMENT
I text steve monday morning to remind him. he confirmed.

so .. what do you think happened.. think about it for second..
...
...
...
WEDNESDAY CAME...
after all the confirmation from both parties.
10 am, 11, am, 12pm came and I headed downtown with a buddy trying to past the time. 1pm came , 2pm comes and I getting ready to head to south philly which is only 15 minutes away and what... here is that noise again, my pockets start tingling, vibrating..

I had a text message. " check your voicemail" .. just so you know my phone was off since me and my friend was in a building that did not allow cellphone use at the time
okay, before I started to listen to that voicemail, I had that feeling. I had that feeling you get when your girlfriend/boyfriend tells you.. "we need to talk"

so I listen to the voicemail...
Oh my god stan, I don't know what happened. you won't believe this, I left the keys in jerseys, I taught I had them with me, I don't know how I made that mistake, I can't believe i did this twice, I don't want to waste your time, I am sorry, I am this, I am that... ... it went on for 45seconds to a minute or something like that.

so I okay, deleted the message, and text steve. No need to come, my partner does not have the keys with him. He texted me back, but I never read it. to embarrassed to read what he wrote,

then i got another text from diego, did you hear the message, I text him back yes..

and that's the last time I talked or text him since..

when I went home that day, I checked my email and everyone that emailed me about the property since or in the following days, I wrote them back the same thing. Sorry that property has been sold... But let me know what you are looking for, what zip and I will see what I can do.

I am done with that whole seller named diego..

so what was the lesson learned here.

1. stan got screwed
1a. Confirm appointments at least 5 times or more. who knows
2. I potentially lost a motivated buyer ( all the properties I emailed them since they have shown no interested, maybe it's because they haven't been in south philly or maybe it's because of the diego fiasco. )who knows
3. I need my own properties under contract.
4. repeat step 3
5. you will get screwed like in this business.
- i am glad it happened early in the came.

okay.. ever since that happened it took a week for me to recover. I was so ****ed , I was so mad, I was so f...... upset, i did not want to talk rei but after coming back on here and reading and being inspired and reading post from people like elix brown. I was back in the game. So that was post 1 for the week 1 I was M.I.A and later when I come back I will post to update everything I've done since that week 1 crash and burn.

It's funny if I had written this the day after, I might have felt better by right away but I was to ****ed to do that. The best thing that came from that whole week was what steve shared with me. He knew so much, he gave me numbers, and stats of what was happening in REI game right now. So I chalk all of that to learning experience.

Stay tuned tonight for update 2 from week 2..
thank you for reading this far.
i got a little mad again just writing it.