Ted's Connecticut RE Investing Journal

Keep it up and keep pushing forward, I want to see all of us at the next EDGE! Your next deal is just around the corner.. Wait and see! I have faith that you will do it! Kevin

Hi Kevin...

Thanks alot...It means alot to me...I have 3 other people to contact today...Plus still trying to add more people to my very small buyers list...

Thanks for the encouragement!

Ted

I've got a great mortgage broker for you who has properties in CT herself.

All she does is invest so she can be a great asset for you.

Let me know if you want her info

Thanks elixbrown...

Much appreciated...I PMed you...That will help alot!

Ted

Welcome.

Welcome to the DG family. I am looking forward to following your journey and hearing about your success. I was born and raised in Stamford,CT.

Lea
SPR Property Solutions, LLC

Hi Linda...

Will do...Thanks for the encouragement!!!

Ted

Hi Lea...

Are you still in CT??? I just moved out to Naugatuck 4 years ago to be closer to my wife's family...Its good to meet you...

Ted

It's good to meet you too. We aren't in CT any more, we moved to FL from CT in 96' If there weren't 1500 or so miles between us we would ask to meet up with you to talk REI.

I wish you great success and will be following your journal

Lea
SPR Property Solutions, LLC

Thanks for the contact info. with the mortgage broker...I'll be contacting her this week! Hope you had a Great weekend!

Ted

This is something that I have experienced several times in my life...It can be a force of good or bad...I call it the snowball effect...

Recently I took some action based on Dean's books...

I wanted to start building my buyers list...So I put a ad on craigslist...

I also wanted to start researching houses...Mostly pre-foreclosures, FSBO's, and REO's...I started looking in the papers and on some different websites...I also set up some google alerts for different types of properties and areas...

Finally, I wanted to start building a network or team of professionals that I could depend on to help me with my real estate investing...I made a few phone calls...I made a few post on this site and a couple other RE sites...

The results have been incredible or what I like to refer to as the Snowball Effect...Why? Because with just a few simple actions I'm seeing huge results that are moving forward with the speed and force of a growing snowball!

The actions I mentioned above took very little effort on my part...I have never been one of those people that is afraid to try something new, in fact I kind of thrive on it...Essentially the only things I have done thus far was call some people, do some serious research, reach out to those around me aqnd place a very basic ad...

But the Snowball is rolling now and there will be no stopping it! Here is a brief overview of the results created in the last ten days!

1) Successfully lost my first deal on a REO! Learned a huge amount for future deals!

2) Have started building my RE Network and Team...Have 2 RE agents that are sending me the types of listing that I have already specified I'm interested in...Huge time saver! Have hooked up with a RE Broker and have an RE attorney to contact this week! Have hooked up with what I think is one of the best contractors in CT for repairs and estimates...

3) Have a growing buyers list!

4) Have a growing list of potential sellers!

5) Have 5 more properties that I'm currently pursuing for my first deal!

6) I am very excited about my future with REI!

I want to thank all of the DG members who have encouraged me up to this point and reached out to me personally...It means the world to me...This really is a amazing place!

More to come soon!

Ted

P.S. It should also be noted that the snowball effect can be a blessing or a curse depending on your actions or lack of actions...Don't be afraid to take a tiny step out of your normal comfort zone...The results will be massive either way!

Hi DG Members...

Its another day on the path to REI...Have alot of things in the works today...

Today I contacted a local RE Attorney that was recommend to me by a friend of mine...He specializes in pre-foreclosures, foreclosures, and reo's...It looks like a perfect fit...He isa going to be calling me back sometime tomorrow!

I also sent an email to a RE Broker that was recommended to me by elixbrown...Hoping she contacts me within the next 24 hours as I have high expectations for this relationship...

I have 5 sellers and agents that I will be setting appointments with to look at their properties...Very exciting! I have high hopes for two of them...Not sure the others are motivated enough to sell but we will see...

I also received my first call from my craigslist ad for investment buyers over the weekend and will be talking with her today!

I love it when things start falling into place!

At this rate I should be able to secure my first deal in 30-45 days!

More soon!

Thanks for your continued support DG Members!

Ted

Ted, great to hear you are moving forward, I'm still plugging waiting to meet with the owner of my first deal. Was supposed to meet tonight, but his wife had a meeting, so I will meet with him hopefully Wed. best wishes, keep us posted! Kevin

Thanks Blessed Beyond!

I really appreciate it...How are things going on your end? If you are still looking for buyers I maybe able to help...I got a call from a woman over the weekend that has several buyers lined up...I think you need to have the deal under contract though...Let me know and I can put you in touch with her...

Ted

HI Again DG Members!

Having a hard time focusing on the things I should be today...My brother had major surgery again yesterday at Walter Reed in DC due to an injury he sustained while serving in Afghanistan 4/09...The surgery went well but since then he has developed two blood clots in his lungs...He is in rough shape...

I just spoke to him and he is in good spirits none the less...It has been really hard for his wife and kids...

Anyway...I'm trying to keep busy...I will be looking at two houses today (if I can set the second on up)...One is a REO and the other is FSBO that I'm looking to do a Lease with Option on...

There are several people I'm still waiting on to call me back...Mortgage Broker, RE Agent and RE Attorney...Hard Money Lender...

I'm almost 100% sure I'm going to buy the REO using a Hard Money Lender...I won't be able to resell for 90 days and the plan is to do some minor rehab during that time...I will also start marketing the property for around $100,000 under FMV so I can sell at the 90 day mark...

Speaking of which...I was online for hours last night researching Hard Money Lenders...I think I have found one that I can use for the REO...But I would love to know if you have used a Hard Money Lender and who you would recommend...

Thanks for being here and your continued support!

Ted

i will keep your brother in my prayers. my son heads to Afghanistan early next year. you are doing so awesome with REI. so much energy. can't wait to hear about that first deal.

Hi Linda...

Thanks for your prayers! My brother is doing much better now...They were able to break up the clots and have inserted filters to make sure they don't have a re-occurrence and he is on blood thinners...He is having more surgery today...Hopefully they will be able to close him this time...If not he will be having surgery again on Tue...

Thanks aloT for your support!

Ted

I mentioned I was going to look at 2-3 houses the other day...I was actually able to set up visits to 5 houses...The first one is looking like my first deal...Its a single family home in Daneilson...The seller is very motivated to sell due to the fact he is relocating for his job...Being as he owes about what the house is worth I'm trying to do a lease with option (Thanks Greg)...He has already agreed to do this deal...I will be meeting with my RE Attorney soon to get all the paperwork in place and start marketing for a tenant buyer! The best part...He has an interested renter coming to look at the house the Monday following Fathers Day that he said he was going to try to convert to our buyer! Very Sweet!

In the last couple of days I was lucky enough to hook up with a Fantastic RE Attorney (mentioned above)...I got Jeff's name from a friend of mine (from a monthly marketing and networking meeting that I have been attending for the last year)...I have contacted RE agents, mortgage brokers, Property Management Companies, and many others who have just kind of humored me, told me why I could not do what I wanted to with REI and just blown me off...Jeff got though right away...When I explained to him the types of deals I was looking to make he encouraged me and offered to help...He is sending me a list of HML he has had success with...Better yet, he gave me the name and number of an awesome RE agent, John...When I called John he couldn't wait to meet and talk with me more about a REO I'm interested in his area!

Big Lesson is this...Just like many have already expressed here on the DG site and in his books, many of the people may not get it...They may even have negative attitudes and try to tell you what can and can't be done...Please DON"T Listen to them! I was told that because of CT seeding laws there is no way you can do a double close on a property...You have to wait 90 days...Guess what...Wrong answer...My new found RE Attorney told me that you can do a double close you just have to be sure that there is no trouble with your financing...So if you are being told these kind of things, shake their hand and be on your way...Keep telling the people around you what you are doing and you will find the right people help get you there...

To wrap things up, 3 of those other houses I looked at are REO's and two of them are looking really good...Still need to get some more info on them and do a walk through with my contractor to get repair estimates...I'm hoping to set that up for sometime next week...

So hang in the DG Members...All of us can do this!

Ted

Nice to see some CT action around here! What town are you based in?

I've been seeking motivated sellers in the Hartford County area on and off for about two months now with various strategies.

Strategy 1:
I put up 8 Bandit signs around the Buckland Hills Mall area (exits and major intersections). They remained for two weeks! Unfortunately the results were slim. Two phone calls - both callers selling their house at retail cost. My bandit signs simply said "We Buy Houses Cash [my cell #]" written in large with permanent marker - just like one of Dean's successful students recommended.

Strategy 2:
I then did drivebys to find ugly houses in beautiful neighborhoods. I found one. Called the manchester town clerk. Got the name of the owner. Got his phone number too. Called him. Turns out he's a general contractor/investor sitting on the property to build on top of it and sell it later.

Strategy 3:
Now I'm checking homeowners going through the preforclosure at the hartford county superior court housing sessions. There are a lot of them. you can get names, addresses and then lookup their phone numbers on whitepages.com. I've been doing this for two days now. Cold calling preforclosure homeowners. Left a few messages but so far the folks I've spoken with do not want to sell their homes even through they are going through the preforclosure process.

I'm not quite sure where to go from here other than keep trying to call these folks to see if one of them eventually says, "yes please I need to sell my home". I'm not sure this will happen. I'm putting forth the effort.

What strategies are you using to find your motivated sellers?
I've learned that finding buyers is easy. Finding the sellers has been hard!

Anyone else feel this way?

Hi Cazcade...

Good to meet you...Thanks for the pm! I have shows this weekend so I'll try to get a hold of you Mon. or Tue....It's good to meet someone else from CT on here...

I'm from Naugatuck...I have been focusing alot of my RE ventures here...Also looking at Fairfield County and the Shelton area...So far...

I also have a deal I'm working on in Danielson CT...Lease with Option (See Above)...

Looking forward to talking with you next week! So have a great weekend!

Ted

Hi Everyone...

I hope everyone had a great Father's Day weekend! Mine was a lot of Fun! Had a family barbarque in the back yard! And the weather was perfect!

This week has been a frustrating one though...My brother had 3 more surgeries...The last one was yeterday...They were able to close him this time and he is doing better...We're hoping thats the last one for a while and that the healing can begin...

I found out on Monday that a friend of mine from school committed suicide over the weekend...It is very sad...

I'm still working on putting together my first deal...Lease with Option to buy in Danielson...Despite my best efforts to get this put together (at least on paper), no one is returning my calls this week...Is there some holiday I missed this week??? Lol

In any case, I'm trying to move forward...More calls and email this week...I'm leaving for Western NY sometime tomorrow to take the kids to their Dad's for the summer...

Should be back at everything on Monday...

Hope you all have a great weekend!

Ted

great news on your brother. i pray for a quick recovery and healing. very sorry to hear about your friend. i am so glad you are continuing to move forward. best thing you can do and sounds like you are doing great, despite the challenges. next week should be awesome!

Hi fellow DGer's...

It has been sweltering here in CT! Average temp 95 and up...I'm not complaining though...Any day it's above 60 and not snowing is a Great Day for me!

It has been a while since my last post here...There has just been so much going on lately...My brother is hopefully on his way to recovery...But last Thur. I was informed that my Aunt die...It has been a hard year on my family...

I wanted to let everyone know that I'm continuing with my REI in search of the first deal...I have looked at several more house...Gotten an estimate from my contractor only to have the bank accept another offer...

Speaking of which...I'm looking for a good Hard Money Lender...I have talked with a couple but they refused to work with me due to the fact that I have not closed my first deal yet...If you have any suggestions let me know...

I'm talking with my RE Attorney on a weekly (sometimes daily) basis...He has really connected me with some great people...

I also wanted to let you know about another great resource I stumbled across online somehow...It is a real estate forum...REIClub.com Lots of great people, info and even some free training webinars! Check them out if you get the chance...

That's it for now...Time for some lunch!

See ya soon!

Ted

Hi DGer's...

Just wanted to say I'm back...I have gotten a bit sidetracked over the last 5 months or so...To many things to try and explain here...

I just wanted to say that I'm back and ready to get back to my REI goals...Better late than never I guess...

Had a interesting conversation with my lovely wife...She wants us to start working on the REI together!

Then my mother-in-law pulled me aside today and expressed the exact same thing! Couldn't believe it...but I'm seeing a pattern here...

Should be fun!!!

More soon...

Ted