Val's Journal

I arrived on Tuesday night, and with jetlag and all, met with notary on Wednesday afternoon to sign closing docs for my Ohio buy and hold #6!
Rehab will start next week; got the insurance set up, and today I scheduled utilities to be turned on; the plan is to get it ready by end of March so that I can get a tenant in by April... busy time ahead!

I also need to get property #5 refinanced, so will start applying for that...

Life is good, I am blessed

Val,
I was reading your journal from early on...what does "SFL" mean?
Thanks.

Teresa,
when I first joined this site, DG offered a software program for a limited time, called Set For Life, where you could choose two counties, and it would give you names of cash buyers for every cash transaction occurred within the last 90? days in those counties; it also provided all kinds of tools to help you organize your buyers and sellers, and you could also buy a domain for a website, and the ready made templates for it, and so much more... the reason I ended up cancelling it was because I was too new to rei, and wasn't really utilizing it. I believe it was created with wholesalers in mind, not so much for buy and hold, which is what I'm focusing on...

Yes, I've heard of that mentioned on here before. I enjoy reading yours and Karen G.'s journals...maybee I need to start my own journal.

and I would strongly advise anyone to start and keep a rei journal; it keeps you focused and accountable... it also keeps you motivated. It's very easy to do, just start writing your goals, or what you've accomplished for the day... anything... and before you know it, you'll be writing about your deals!

I look forward to reading you journal Teresa!

Val pushed me to start mine and now look at me. First it was the journal then it was enter the send me away contest and so on. I helped her get rolling and she did the same back to me...Thanks Val..

I have met some amazing investors on this site; the level of camaraderie is incredible! The support we give each other to reach our potential and achieve our goals, priceless!
I would have never accomplished what I have so far without that first push I got from Keith. I would have never believed that I could do what I have done this far without the words of encouragement I have received from my rei buddies here! I would have never accomplished anything without this site that Dean provides for us!
I feel so blessed for being part of this amazing family!

Yes, I'm going to start my journal today! Karen suggested I start it on another thread. Thanks Valerie!

I am SO happy that you are home from your travels! I miss our brainstorming when you are gone! My brain needs to be stormed on a regular basis!

Karen

you are too funny! you better not ditch me when you move to SC! I know, it was hard being away and not having internet (and phone! yikes!) available at times! I was forced to detach myself from all technology for a few days and relax... but not for too long!
It is great how we share our plans and ideas; they become real when we talk about them and how we will accomplish them, and then we make them happen! I love our brainstorming sessions!!!

rehab for #6 is almost done; city inspector scheduled to come to the property this week, and handyman already has a tenant lined up to move in next weekend!

Bank appraiser scheduled to do appraisal on property #5 this week to finalize refinance! If everything goes well, I will pull out my $ to get some other rehab done, and pay for property #7, so keeping fingers crossed

Today I received confirmation from my agent that another offer I put in last week for an REO was accepted; this will be 'buy and hold' #7
The property was foreclosed to lender for $34K in February, they put the house on the market right away, and then lowered the price only after a couple of weeks, so I wasn't sure if my offer for $10K would be accepted (less than their reduced asking price), so I was pleasantly surprised when I got the notification! Property needs about 7K in repairs.

My goal for this year is to own 10 properties in OH by December 2013; I have an amazing team; as Matt says, they all are "A" team players, and so am I. We all put in our share, and keep our end of the bargain, and the results are always positive...so far, so good!

I am blessed!

Congrats Valerie!!

I have been keeping myself busy! Also got my taxes done on Thursday! Whew!

I'm keeping up with your journal too, so I know you're taking action too- that's the key ingredient to success

Congrats on your latest property!!!

You will have more than 10 by the end of the year! I'll bet you!

Karen

Val you got the deal ! awesome. I am so proud of you us DG girls just keep kicke=in butt!!! You will make 10 I'm sure

man I need to ramp it up. you girls are kicking butt lol. congrats on yet another deal and you know you'll have at least ten before the end of the year. at this rate you should be at 15.

It wasn't that long ago you told me you wanted to get to ten and your almost there already.

Karen, Donna, Rob, Mick,

it really motivates me to hear success stories from other DGers; we've come a long way, but we still have plenty of work ahead of us! You guys are awesome!

Woohooo! the DG girls are rockin'!!!

came back from the Edge event late Sunday night, it was incredible! It was so nice to meet new investors and re-connect with friends from last year!

At the Event I shook hands on a deal with another DG'er, and we signed contract, etc. this week... it's a great property in the area where I'm buying, and already has tenant in place... nice!

Also closed on house #7 on Friday; need to turn on utilities on Monday, and will start 'renovations' next week (if you were at the Edge, you know why I'm calling it renovations instead of 'rehab')

house #6 was inspected for the second time (the city inspector is a pain! he'll ask my handyman to clean cobwebs in the basement, or powerwash garage...) anyway, got property approved on April 30th, and tenant moved in that same evening.

Looking for house #9 now...

Valerie,

So awesome to meet you at The Edge! I love catching up on the deals you have going on here!

CONGRATS on your latest and even doing a deal with another DGer with one of your props. That's incredible!!

So pumped for you! You are just plowing right ahead to reach your goals. Look forward to continuing to follow your success!

Cheers!
Louisa

You are doing great!!

Louisa! thank you for stopping by... it was so nice meeting you too! It was quite funny when you arrived with all your shopping bags and the big smile of yours!
I've been reading about your deals, and that is pretty cool what you've got going! We are on our way to freedom!!!

Teresa, thank you for your support! It really is so motivating when you know there are other girls here rooting for you! I'm so happy that you are out there taking action too! Believe me when I tell you that we all start at the same place, not knowing in what direction to go, and little by little, we start finding our niche, and then it becomes a lot easier and it is soooo rewarding when you start making those deals happen! Just keep at it, a little every single day will get you to your goal!

it's raining in OH this week, and normally I would think 'oh no! that's not good!', but in this case it turned out to be ok; handyman was scheduled to work on some other projects this week, and then start rehab on my property next week, but since it's raining, he can't work on those other projects!
Sooo, rehab started officially today! Woooohoooo!!! although... with every wooohooo there's always the 'really???!!!'... So, yesterday I called utility companies to have water, electricity, and gas turned on; well, to have utilities turned on they schedule a day and time window to send out an inspector; 'my window' was today between 8am-12pm; well, wouldn't you know it, I get the call at 8am... ET!!! so my rei started today at 5am...

Another little glitch... this has to do with my refinancing. Everything is going smoothly until the processor informs me that the bank has not released the lien on the property. So I called the title company to inquire about it; and this morning, yes, right after the first call at 5am, I get another call from OH, but this is the attorney for the title company. He informs me that there are no liens on the property and tells me that the people from the refinance bank don't know how to read documents! He says that the original bank merged with bank that sold me property, and that there are no liens, that I can give bank people his cell phone and they can call him and he will teach them something (yes, his words)... so I relay the message, in a nice way, because after all, I do want the bank to keep refinancing my properties... The bank people say 'fine, can you just have the title company give you a letter showing the release of lien on the property'... soooo I've left message for title co. but I also called (REO) bank directly too and had to leave a message too because it's now 2pm PT ... 5pm ET!!! So tomorrow it won't surprise me if I get a call at 5am from the REO bank!

Lesson learned: always ask for a lien release from bank at closing!

Anyway, I can tell you that 'buying and holding' does take a lot of time, energy.... and talking to many many people at very early hours in the morning!!!
I love REI!!!

Ah!!!! You better get to bed now! 5AM may come early tomorrow! Time zones are killer. Sorry for your "early morning" troubles. Last year, in the thick of several rehabs, I remember thinking, dear Lord, how many contractors are going to call me between 5am and 6:30am today? SERIOUSLY?! We've gotta set some ground rules! LOL.

Funny you mention the shopping bags. I shop maybe 2 times a year these days with little ones...I never get a chance to get something for myself. I have discovered one time, shopping with a running crazy 2-year-old boy and 8-month-old is near impossible So I felt ridiculous w/ all the shopping bags at the Firesky, but it was so amazing to actually get to go! LOL. It is becoming a trend for me at The Edge. I should sneak to my room the back way next time

9171 points!!! Impressive!!!!! You are racking them up here!

Keep filling us in...you are almost to #10!!

when I first joined this site, there were nights when Karen and I would be the last ones here... because of the time zone... it would 12am here and 3am ET, so it was just the two of us, reading and commenting on posts, asking questions, greeting newcomers, etc... good 'ol days!

Valuni wrote:

when I first joined this site, there were nights when Karen and I would be the last ones here... because of the time zone... it would 12am here and 3am ET, so it was just the two of us, reading and commenting on posts, asking questions, greeting newcomers, etc... good 'ol days!

I heard my name...

Karen

that southern part of you has just taken over! oh wait! nevermind! You've always been this funny, hence the late nights chatting!!! oh what fun!!! great memories!!

and that was before we were doing any deals... wow! I can't believe we've come this far, and just imagine where we'll be next year!!! xx

woohooo!!! Refinance for property #5 closed a week ago! I had to contact REO bank to get things moving (made a great contact at REO bank!!), because loan processor (refinance bank's)wasn't getting anywhere; anyway, got letter from reo bank (and copy of docs they were sending to court)stating that they have no liens on property... Closed a couple of days later, and received funds in my account same day we closed. (At the request of my loan originator, I opened an account with this bank last year; no fees, and they deposit funds in my account every time I refinance a property with them; couldn't be easier!)
I paid $15,000 for this property, rehab $4,000, refinanced property for $22,400, so yes, got more than 100% of the funds used to buy and rehab this property, and the mortgage payments will be covered by tenant's rent

In the meantime, rehab for property #7 has continued and is almost completed. City Health Inspector will go to property this week to approve for rental; already have CL add for rent, so the plan is to have tenant ready to move in as soon as property gets approved.

Have an offer in for a property that I'm planning on doing a flip with another one of DG's successful female investor It's a REO property, we already have the buyers ready, but the bank is taking a long time to reply to our offer/counteroffer!

Also had some unforeseen plumbing issues with Property #8 that I bought from another DG member... luckily it wasn't anything major, but definitely another lesson learned!!

As the market is changing, and in my area it has definitely become a seller's market, I am now getting ready to sell a condo I purchased back in 2005 and has negative cashflow (this was before learning DG strategies!); I've been holding it, waiting for the right time to sell, and everything is pointing towards right now! The only bad part of this plan is that I have to ask my tenants to move, and it makes me feel terrible! but a few years ago, before the market crashed I was going to sell it, but felt bad for the tenant, so let her stay, but she made it so difficult for my agent to show the property or to have an open house, and I ended up not being able to sell it; so unfortunately for my current tenants, I will not try to sell it while they are still living there. Saturday I delivered to them a letter of termination of lease and non-renewal... it will be great if they move within 30 days, but I told them that I would allow them to stay up to 60 days if they needed the extra time.

I also joined a meditation group, and combined with re-reading DG's 'Totally Fulfilled', and finishing 'Think and Grow Rich" that I started a few months ago, and had put aside, my state of mind is becoming so focused; it's amazing what we can dream of and make it a reality. I am so determined to accomplish my goals! It feels great!
I am grateful, I am blessed!

Wow, getting a lot accomplished. Love reading your journal. Keep it up

Hi
I see you get the same 5am that i get even tho i tell them ahead of time i am in ca time zone. I got a new handyman starting on riverview this week and I will get stuff sent out to you now that everything is closed out and fixed. Thanks for holding..Keith