MBEHRENS Investing Journal

I truly believe you are going to do tremendously well!

From what I have seen of Michael on this site, he will be a magnificent mentor for you! I am jealous! You will probably be a big driving force for him as well.

I look forward to reading about you in Dean's next book!

Karen

congradulations Matt keep up the good work and I wish you well.

Thank you so much for the kind words Karen! I cannot wait to do what all of you have mastered!

Way to go with your game plan. Just stick with it and it will pay off big time. there will be good days and bad days but, never forget your dream. Much success to you...Jan

I offered on 15 REO properties and heard back pretty quick on 7 of them that they were pending/sold. I found two more and we put offers in on them today. We still have a total of 10 offers out still and I am looking for more. My realtor and I have set it up so that any new REO that comes up at its 90+ day mark we put an offer in. I will keep you all posted on the progress. Wish me luck!!

Glad I found it, I am usually not great at posting in a journal, I am a very self motivated person. I HAVE HAD AN AMAZING DAY!

Looked at 9 properties, 4 went UC and I put in two offers.

Have another one with some structural damage that my GC has looked at that we will most likely offer on. It has been up 390 days and is listed at 42% of ARV, we are going to offer probably about 30% because of the steep repairs but there should be 60-70k in profit for this one.

Found out I have a little more private money then I thought...

Had a great chat with my mentor last night who challenged me to get some deals for him in the next 10 days.

Talked with another partner of mine that will be partnering on some rehabs with me and that has lit us up so much. She has had some amazing success and will close on a deal netting her about 120k in profit!

Found a new realtor this week who has blown me away with how good he is and how much work load he has taken off of me vs my last one.

Also just partnered with my fifth wholesaler today. She is another huge wholesaler in the area with tons of buyers. We are marketing each others properties to our respective buyers and then splitting costs 50/50.

My success just proves that others can do it! Just get out there and network!

Matt what kind of journal is this only six post in over a month.

I lost it and couldn't remember the name lol, I changed it to my user name just now. Thanks alot Jim! Like I said I will have to force myself to write in a journal, I just don't use them...

That's why I made my poker night we have fun and I wanted it to be where we all could meet and talk a little bull.

When and where? I LOVE POKER!!!

Well Monday I am looking at six duplexes and three fourplexes (too many numbers in that sentence!) and also 7 REO's 3 SS and 2 Motivated FSBO's. 21 properties in one day and we have another list of 20 more on weds. I plan on offering on monday eve and Tues on the first batch and then weds night and thurs on the second batch.

I am then scheduling another 20 on Fri for my other realtor which we will put offers in on Sat. Total blitz these next two weeks. I promised someone a deal in the next ten days 2 days ago so I am rolling hard and fast.

I have so much motivation and momentum building right now it is unbelievable. I have had three straight days where I have not even gone to sleep until after 2am.

I have added 5 cash buyers this weekend, found 6 more LO buyers and partnered with 3 more wholesalers to market properties in the area.

I am also getting all approved for HM this week so all I have to do is present the deals for my own rehabs, I am hoping for 4 (No I will do 4!) this year.

I like this journal now... I may have to do this more. It is actually getting me all stoked by just writing about taking action!!!

I will keep you all posted!

I added 4 more to the list, 1 more FSBO, 2 more REO's, and 1 more SS. I also am contacting three apartment complex owners that are FSBO as well. i may pick one as I have been in contact with the seller for the last week and the other two for my three buyers that are looking for them... One is a 17 unit, 14 unit, and finally a 12 unit...

I think the next two weeks are going to be INSANE... I hope so...

always been wondering if you ever started a journal just never really thought twice it about it! Well I'm glad to see you're putting that self discipline into action! I'm looking forward to seeing everything successes as well as failures well failure is a strong word. We'll just use minor set backs.

Matt , 5th St Jim's Place.

Ok makes sense, Chase... Failures? NEVER! Setbacks only are setbacks if you don't create a solution =)

Matt you are defintely on the road to success . I am currently focusing on working on REOs like you and am very close to completing my first deal. Banks are usually a pretty flexible seller and most of those homes need rehab which gives you room to negotiate as well as being attractive to local investors.

Here wishing you a successful 2011 !!

Randy Sherman
Elkton, Maryland

Jim doesn't have a journal only a backroom card game where we all go to play poker and eat food.

Alright 1/31 was snowing and 2 degrees out. I did it anyways, I didn't take the easy way out and cancel my appointments. I looked at 15 properties, and offered on 8 of them. Today the high was -3 ok so I did not go outside but i also worked and got all of my POF's and EMD checks ready to go and sent out my 8 offers plus two more from the previous day.

Had some great news today regarding a 17 unit commercial property that is FSBO. Numbers look amazing and it looks like I can get it for 41% of ARV and at a cap rate of around 26%. Should cash flow 2500-3000 per month and has 160k of equity.

I have 18 more properties to check out tomorrow plus two more in the north side of Denver.

I also have another 15-20 scheduled for Friday as well and may go out on Thurs as well...

Taking Action!

That's what I call a big PUSH! Way to go. The commercial property sounds like it could be "juicy"!! Keep us updated.

I guess when it rains a little out here in GA I shouldn't complain anymore seeing that you're out there toughing it huh? All I will say is good luck and you might just want to invest in some high quality thermals if you haven't already, because you're going to need them! But great work man you're doing it! Keep it up!

Absolutely, My goal is 20 a day I am off for two weeks. I may need a day or two off by then but hey. I have two realtors so when I am working with one looking at properties the other is putting in offers on the ones we looked at the previous day! I am doing my own Blitzkreig.

This is for my family and I am so tired and done with holding myself back!! Best part is while I am looking at properties my wife is calling FSBO's and Estate Sale ads creating even more momentum!

Isn't anything!! Go get em Chase! Yes I do have thermals, stupidly I do not wear them though. I may need to change that tomorrow!

I see that you're still running full force and am proud of you man! You're giving me that motivation as well just go ahead and start my own "Blitzkrieg" LOL! But you're doing great so far. Keep it up!!

Looked at 17 today, I am putting offers in on 11 of them. Had one more FSBO call trying to sell one of his 100 or so multi family triplex at around 55% ARV so I am meeting with him tomorrow and may already have a buyer...

Nothing on the 17 unit apartment complex yet but will keep posted.

I have 4 more to look at before another 20 on friday. I may end up with another four tomorrow as well so we will see...

Alright, we got 12 more intoday!

Met with my GC today to look over some work he has done and it looks amazing and his prices are awesome!!

Talked with the owner of the 17 unit apartment building and I am meeting with her on 2/5 to go over the finances and records as well as get anyother info I can get. If it is a good deal I am heading up to Nebraska to take a look on weds...

We will see if I get any properties on contract!!

I have 10 more REO's today in a different area and then 10 more on Sat. I have 25 Offers in this week and I am hoping for at least 35-40 this week and another 35-40 next week so all is on track!

I am amazed how quickly this is all growing. Going from just taking action to actually speaking to banks, home owners, agents, putting in offers, etc. It just seems all so automatic!

My wife is even getting in the game by calling estate sale ads and newspaper ads for divorce and probate properties!

THIS IS SO MUCH FUN!!

Well I sent out 7 more offers yesterday and 7 more today for a total of 35 for the week!! I looked at over 50 properties and look to continue that for the next week or two so I can get caught up on REO's that are on the market and then just approach each one as it pops up.

I met with the owner of the apartment complex in Nebraska and it looks like an even better deal then I thought but I will go up on weds to check things out on it.

Got a deal countered and accpeted this week as well and they want a five day closing. It is a townhome ARV at 100k and we picked it up for 40k. The place needs 22k worth of work and due to a new policy with the HML I have been using they no longer touch attached homes so we are trying to find some financing for it... Rehab should only take 30-40 days so will be quick and then plan on refinancing it and turning it into a rental.

Best part of that is there are two others right next to it that are also foreclosures that we may try to purchase as well. With all three there would be over 100k of profit in them plus positive cash flow. Hopefully we can get something going with them!!

Awesome journal, the pace you're moving at is ridiculous (in a very good way).

Just had a question about what you bring with you when going to look at properties, you talk about looking at 10+ properties in a day, so is there a checklist of things you look at yourself personally to kind of appraise the property in your mind or what? (Feel free including or PMing me your guide/general questions you may ask every seller, I'm kind of building a pile of useful documents from everywhere right now)

Just curious..

JP

I just bring a rehab checklist that has been approximated by my GC of what repair costs will be for everything ypou can think of. I typically am in a property for around 8-10 minutes a piece. I check out everything and then make notes about the property. I will then go home and check out ARV numbers on it as well as well as rental rates in the area so I can have multiple exit strategies in place for my buyers. I then am putting in offers to my realtor on those properties the next day while looking at other properties with a different realtor. I am basically able to just look at properties and double my efforts with my realtors because one of them is always putting in offers while the other is showing me properties...

Also! Bring a camera or you will forget the first house when you get to the 15th...