OfflineWell I guess it is about time to update the title and such on here a little and go with new times and not the time when I started way back when. When I started in investing I was driving 18 Wheelers all through the U.S and now I am local trying to make this work. It has come to the point now I do not do much for myself but instead for the family that I have and really care about more than anything. If they are not happy then I am not either. I have tried a couple of things in the area where I live, such as buying notes, and real estate investing. I have several books and the course think a little different as well. I am starting back to day one when I got my first book and see where this gets me. I have no choice as I feel that I have failed in everything that one goes through in life no matter what. I have made three major moves in my life, started over each time just to get to the point where nothing goes further, just like hitting a hard spot but I know I can get through that too.
Shawn
Believe and Achieve, if you do not believe then you cannot achieve so lets see what goes now.
It has been a little bit since I last posted here, have been doing a lot of thinking about things after spending some time in the hospital. Trying to figure out how to make things work that just seem like they don't want to work no matter what you do. What do you do when you hit the bottom or you play ball and fall down, or get thrown off a horse, you get off your butt, dust yourself off, get back in the game, get back on the horse and git r done. I have been sent a property locally from an agent that knows what I am looking for. The original sale price was 65K, 3br, 2ba, close to town, pretty good area, asking price now is 49k, after running the numbers fmv is only 42k. The owner will finance with 4500 down, up to 20 yrs with 10% interest but he is still asking 7k over the fmv of this area for that type of property, but houses in this area go quick for the right price and rentals go fast too. Any ideas on this one.
ba
if you get thrown off your horse, you fall down in the ball game, get up dust yourself off, get back on that horse or get back in the game and make it happen.
After what recently happened I have learned to look at things different in life now.
Get the thing under contract and lease option it to a tenant buyer.
Michael
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Thanks Michael, will be getting with the agent after the holiday to look at the inside of the property. Her dad had recently passed so we was out of the office for a couple of days due to this. I don't have any tenant buyers on my list right now for this area so I had better get busy trying to gather some quick to help cover the down payment the seller is wanting too as I don't have it either will have to work on seeing where I can get it from also.
ba
if you get thrown off your horse, you fall down in the ball game, get up dust yourself off, get back on that horse or get back in the game and make it happen.
Okay I went and looked at the inside of this property, owned by another investor,talked with the listing agent, what she thinks if I were to flip this one it could go for 79,900. Details, 3Br, 1.5Ba,1200 Sq Ft, built in 1920, asking price 49900, fmv is 42,500. Needs new flooring throughout, painting, foundation work, needs new kitchen and appliances, some minor repairs outside as well. A/C is window units, space heaters for heat. On a property like this in the area it would rent for 750 a month with just taking care of the painting and flooring, maybe redo the kitchen as well. Asked the agent to get with the seller to see what would he consider to sell the property as to down payment and price of the property. The property is close to town, homes this size are going for around 80k according to the agent, several properties have been renovated this size and have low days on market.
Things I would need to work on is the down payment, and the cost for the repairs to flip this or just to rent it out. Any ideas on how to do this one, without using any of my own money or credit.
Owner is willing to finance with 4500k down payment, 10% interest up to 20 years.
ba
If you get thrown off your horse, you fall down in the ball game, get up dust yourself off, get back on that horse or get back in the game and make it happen.
On how to do this one, I know I do not have the down payment for this, no tenant buyers on my list, renters in this area are easy to find but the listing agent is also a property manager and had advise to not to rent it under 600 from past experience lower rent values the people do not take care of the property and would have more trouble with them. The area is nice, properties in the area are being bought, renovated and sold in a short time frame.
ba
Change your stinking thinking.
You would not believe how much this will change your life.
Many Blessings!
Its all facts actually, no money for the down payment, no buyers either tenant or others, ran bandit signs, car advertisement and everything else, now tell me how thinking has to do with this.
ba
While viewing the property previous mentioned I had asked the agent to see what the seller would accept as for amount of the down payment and she got back with me asking how much would I put down. Well after doing some thinking, it hit me like Dean has written in his books, I offered the seller no money down, but instead I would take this money and make repairs to the property that need to be made so it can be rented out quick as possible to make money off of it to pay the monthly payment on it or find a tenant buyer to purchase the property while making needed repairs to it so now I am waiting to see what the seller will say about this.
ba
Just stopping by on deans site to catch up on some reading and learning, been a while since I last posted or even read anything here. At the time this was posted I have been doing a lot of thinking as to how far I have come in real estate investing so far, well I will leave that open. Time has come for a job change again and will be going back to doing what I did when I first started my journal here as I have no choice, time to drive the big rigs again.
ba
well after spending lots of time here and the like at least this is working for some people on here because it has not worked for me at all since I got started not matter what I have done and tried. I could write a book on this but why would not do any good so just leave it at that.
I left truck driving to give this a try, this has been several years ago now and nothing so I have no choice but to go back to making a living on the road, not being home for weeks on end. I have been spending more time looking for a new job than anything just to keep up on things. If any one is interested before I go back on the road driving and willing to help I will split all profits made on all deals for a certain amount of time, it will be 50/50 for both sides for all deals I can close in 6 months and if i need longer then we can work this out too. I am desperate to try a lot of things now.
ba
I have been observing a property that is close to where I live that the owner had tried to sell the property himself for some time, was not able to sell it so now it is listed with an agent. It is a 3/1 property, brick, nice yard. When he tried to sell it as fsbo he was asking 52k and now since it is listed with an agent asking price is 49k. Zillow is showing 59k, property is in good shape, could be a good rental property or wholesale also for the right price. I have contacted the listing agent about looking at the property this week to see the inside and go from there. Who knows what this might bring but I will use all what I know and all the advice I can get along the way to see how it comes out.
Shawn
Contacted the listing agent for the property I had mentioned in previous post, found out that the parents lived in the property, moved out to nursing home and the kids currently are selling the property. So I think they do not want or need the property and just want to sell it. I will be viewing the property from the inside tomorrow and see how things go from there. I am thinking about 39k offer on the property because it has been some time since last updates were made to it and there may be some things needed or offer what they want and see if they would do a l/o on in for good terms too.
Shawn
I finally got to view this property I was wanting to see, here is what I have found out, needs new roof, roof face boards rotten in places, then paint them, has major foundation problems, inside has been well taken care of so no repairs needed, kids are selling because their mom is in a retirement home and need the money for this so owner financing or such is not an option. Asking price is 49k but I think an offer of 34k would be the max due to these repairs needed after figuring up what it would cost to fix them. This place has been up for sale and empty for some time now and the agent said the owners would consider all offers, any help on this one or ideas how to go about this.
Shawn
Give and do all you can in something just to prove one thing, try something just to fail in it as well no matter what you do. I have spent money buying this book and that book just to waste money on this too. I have proved one thing that this does not work every where no matter where you are.
ba
keep trying all you can just to fail
Have you noticed that only those that have gone to the edge or have used deans success academy are the only ones that actually have made it some where. I was contacted by the success academy twice, each time a lot of money was involved that nobody has. I have all his books and some other course. Never could afford the edge either, not every one can at that price. Most of the ppl on this site are just visitors not registered users either. I know that this does not work in my area and other areas that I have tried also. Prove me wrong before I die because I am tired of failing in all I have tried just to make a better living because life just isnt worth it any more. Each time I try to come on here all I have is trouble like some one does not want me here either.
why try any more when all you do is fail so it seems.
ba