OfflineNot quite sure where to start but here goes nothing... I ordered Dean's BARM book last October (2009) after being laid off from a decent paying job. I had seen a few of his infomercials, but really just assumed that he was like "the others" and took no action. Then, I was up one late night watching tv when another one of Dean's infomercials came on. It was almost like I had tunnel vision, something he said caught my attention and I couldn't do anything but focus (and I am so glad that I did pay attention 
. After watching, I thought "what do I have to lose, the whole $19.95 that the book would cost me"? Heck, I usually spend that on my lunch sometimes. Being out of employment with 2 small girls was hard for my fiance and I, but I felt that this would be a way to get back on track.
Real estate investing has been in my family for as long as I can remember. My grandmother had invested in real estate for over 30 years and my parents had many rental properties during my childhood. In fact, I actually did my first rehab about 5 years ago and quite a few since then. With all that aside, nothing that I had previously done seemed as simple and painless as what Dean discussed, for this reason I decided to give it a try. Since ordering his books, I have had so many private seller deals. However, for some reason or another was unable to close them. I recently teamed up with a very knowledgable DGer, who has helped me discover other ways to make money using Dean's techniques. I recently got my first REO under contract and awaiting its closing by the second week of September.
Details:
Bank asked: $45k
Bank accepted: $40k
ARV: $80k (based on comps, on the low end)
Repairs: $5k (professional estimate)
I plan to sell for $49k and make $4500 after the split with my partner.
No too bad for me first wholesale deal, or at least I thought. I plan to close 5 more deals by the close of the year. So far I'm starting to think that REO's may be my niche. I am so grateful and thankful to Dean for "opening" my eyes to new ways to invest in real estate. Up until now I always used traditional funding and lending, never even went as far to think about the creative funding that he teaches us about. Well I could go on and on, but I will leave something to talk about for my next entry.
Lenee
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Great job my questions is how did you lock up an reo usually banks won't assign a reo. Where are you located?
I Can Do All Things Through Christ Who Strengthens me.
Philippians 4:13
Im in Indiana. The deal that I have under contract is was locked with transactional funding and I will bring an end buyer to close the deal. However, I have seen others assign REOS...
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
I am still working on my wholesale deal. Buyer backed out and its not looking too good for me. I have tried many other last minute strategies to reel in a cash buyer, who would be able to close within a week. Trying to remain positive, but my luck is running short. Worse case scenario, I will only be out of the em I put in. I just can't believe that this deal has not closed
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Been a while since my last posting...many things have happened. Just closed on another deal with a partner last week and look to do the same in the next couple weeks. The deal in the works is a lease option, wont yield alot but definately something to add to the pipeline. Closer to being able to start flipping again, look to pick up a few next month.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Working on a wholesale deal with a partner. Have a home under contract for $20k, tax assessed value $94k, ARV $50k, repairs needed $5-6k. This is a homeowner that is facing potential tax sale riskkand have had tenants in it for over 30 years. We plan on selling it to a landlord buyer and splitting the approximate profit of $20k. Plan on closing this up in a month.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
So today I decided to make myself more accountable in my REI career by making more frequent journal entries and updating them more often. Currently, I am working with a partner (in another state) on a rehab deal. This was one that we acquired from another investor (out of state) and got for pretty cheap $10k. Should only need minimal repairs of about $10-15k. After the repairs are done, it will be listed and hope to make a profit of nearly $15k. I will be going on maternity leave next month with my 4th child, so hopefully that will free some time up for more investing. I plan on being off for 12 weeks, and I would love to not have to return to my full-time job. So my main goal now is to put myself in a position where I can choose to work and not have to work. This would allow me more time to spend with my family and dedicate my life to something I actually like doing. My daily activities consist of working from 8:30-6:30pm daily, then after gathering kids from their afternoon activities I come home and perform motherly duties until about 9pm, then I squeeze Real estate in. I am able to make return calls on my lunch sometimes, but I am usually always pretty busy. My family is my main motivation to become a full-time REI, and in due time I know it will happen. I have quite a few partners that I am working with, now is the time to put all the puzzle pieces together and make some $$$
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
You are a superstar. I hope you will not have to work your full time job as being a mother of four is a full time job. I am glad that we hooked up and hope we will also close a deal in the near future.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Thanks Tammy! Let's get to business
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Went to pick up keys from an owner that I have been dealing with for the last three months :0 The tenants were supposed to be gone for over a month now and finally moved out
Time to market! Also, may have picked up a short sale...guy is in Texas and his prop is here. He is upside down, still trying to figure out some possibilities here.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
With the Super Bowl being hosted in my city, I haven't been able to concentrate on RE like I should....I do however, have a potential short sale that may be in the works soon
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
I'm showing one of my wholesale deals this Sunday to a very probable buyer. Should she purchase, I should net about $7000. This is a deal that I have been working on since November. It took so long because there were tenants in the home that had been there 30 years. They finally decided to leave so now I am able to show it easily.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
deal through Lenee; you work so hard!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Thanks Tammy! I will call you this evening...sorry I have been MIA via text
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
I know you are busy over that way. Talk to you later.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Plan to get some bandit signs out today. I recently set up an account with Victory Store and ordered quite a few signs. Now I must put them to work:)
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Great job. Have you done the bandit signs before? Im sure you will have great success from it.
Let us know how it went, and if anything interesting happened . lol
Curtis Fillers
(Charlotte,NC)
I actually put them up quite often. However, working a full time job with 3 kids and being 8 months pregnant has slowed be down
I have got alot of tenant buyers from them.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Starting a rehab while 8 1/2 months pregnant....who would of thought it would be such a task??
However, I am determined to make it happen! This is a deal that I am working on with a partner. She is in another state and the house is located here in Indiana. The clean up process begins tomorrow. Will update as time allows 
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Going in to be induced tomorrow, this will also start my leave from work
Plan on getting much done over these next couple weeks. I was told to take a break from REI while in the hospital, but I have a few books packed 
. Look forward to adding more success stories.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
YAY YOU HAD YOUR BABY HE IS SOOOOOOOOO BEAUTIFUL!!!!!!!
Congradulations
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com
I have been wondering about you and if you had had the baby yet! Glad you posted this!
Best wishes!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Congradulations
Beka,
Where the heck did you see him?!?!?! I wanna see!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Lenee
Congrats on your new addition to the DG family and your own family.
Judi
I texted her a pic. I will post a better one on here later:)
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Thanks so much
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
So I finally did it! I took the necessary step to make myself more accountable and signed up for Insider Elite
. I seriously need help with time management and holding myself more accountable to my success :0 I am hoping that with the networking and life coaching, I am able to kick it up a notch. I desperately want to leave my day job and become my own boss. I've worked in the finance industry for years now and I'm really burnt out (I've done everything from stock broker to banker to branch manger). I really need to make this happen and I am so close that I can smell it. My normal day consists of getting up at 6am, dropping kids off, working from 8:30-6:30, picking kids up and usually getting back home around 8pm. This doesn't leave alot of room for the much more, but I am determined to make it happen! 
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Hi Lenee keep up the wonderful work and maybe we can do a deal yet, working very hard too.Jim
jbischoff
Today was a pretty good day. I put two deals under contract and made many follow up calls. My days seem to be running concurrent...longing for the day I can leave the rat race
I joined IE a few weeks ago and excited to see how it may help me achieve my goals.
HOLDING MYSELF ACCOUNTABLE!!!
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
So within the week, I will be closing on the first deal with my new partners (previously old co-workers)
not a whole lot of spread on this one but we have 4 others lined up with decent profits. This is great considering I'm still doing deals of my own on the side. Leaving the financial industry was the best choice I could of made. NO LOOKING BACK!!!!
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Guess we never connected last week/ sounds like your very busy!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.