B.C.'s journal

Thanks mike for the kind words. Yea I have been through the ups and downs, But like Matt Larson says, never give up because you will never know how close you were if you do. Giving up on something when it gets hard was never in my vocabulary anyway. I could have bird dogged or tried to wholesale but i have a different target in mind, I know i am crazy for not taking a few bucks like that but i will get to my goal. I am closer than ever. I am traveling about 7 hrs away to do it but I think in the end it will be worth it. I will update Wed after I get back from my trip.
good luck on your RE journey.

Never reached my destination! I left 4am with all my info and gear, unfortunately my GPS failed and I was lost in NJ for 2 1/2 hrs as it kept saying (recalculating) I got so worked up that by 6;30am i shut it off and some how found my way back home. I was so spent that i crashed on the couch for a while ,then got changed and went to work so i wouldnt loose a days pay for nothing. I immediatly called the agent and explained what happened and apologized to him. He was understanding and said a rescheduling was fine. so I printed maps for the new trip( should have done that in the first place). But I recieved an e-mail from a friend here and we are now working on something together close to home. hopefully it works for us,and more in the future. So i guess god had another plan for me because it is funny how things worked out better for me in the end. That trip would have taken a whole day round trip and is way out of my way, but i was willing to take the chance and ride to take action and complete a deal. hopefully we will have a post soon to put up on the board. keep going and never give up on your dreams!!
Richie.

Well, I dont know where your GPS was trying to get you in NJ, but I'm glad mine got Steve & I up to meet you in NY on Tuesday! We are still working on those numbers on the one house and will be interested to compare notes with you. Really enjoyed meeting you and inspecting brainstorming the houses together. Look forward to seeing you again soon!

Great meeting you two also, I did reply to your e-mail tonight.
Yea it was fun brainstorming with you guys too,climbing through windows and all that fun stuff lol. Yea your gps was definately better. How was the ride home?
I wish we had time to go to lunch and sit and talk, but we will hopefully soon. I like the numbers on the last house also, I am glad they were able to show us it.
Well, i will talk to you soon. again, it was my pleasure meeting you guys.
Richie.

Climbing through windows, eh?? Laura, are you being a bad influence on him? LOL!!
That's awesome that you guys are joining forces (nothing can stop a REI!), and hope something works out for you guys, three of my best friends (well, I haven't met Steve yet, but if he's connected to Laura I know he's a great guy! )

Speaking of "nothing stopping", I emailed my agent in regard to an offer i haven't heard back on. She said the listing agent hasn't been able to locate the seller (it's a short sale). Looks like I might have some detective work when I get back home! lol

Have fun, you guys!! Watching for your emails!

Rina

Yea climbing through the window was funny,I am not that skinny and it was a basement window, and to boot the neighbor tells me that a racoon the size of her dog was seen going in there. lol, So i was waiting to get bit when i went in legs first. but once i was in and steve came in we didnt see any animals.
Put on your detective cap and find that owner.
good luck Rina.
Richie.

I should have made a movie of you climbing in the window Richie. I didnt realize you guys were doing that until I saw the last half of you going in! Next time dont let Steve make you go first haha! And yes, I wish we could have sat and talked more - but I feel we will be doing plenty of that in the future

That is true Rina, in Laura's defense she wasn't there when Steve and i decided we were going in.lol. It was fun as well as educational. And yes I think we can do a lot of deals together in the near future.
talk to ya soon.
Richie.

Sorry we didnt get that place. I feel kinda responsible. Since I didnt know the area I delayed putting in an offer in order to do my due diligence and information gathering. But like I said in my email - dont worry. Deals come and go and it takes many misses to get a good hit. So keep searching and the right one will come! And when it does - we know the area better and will be able to move more quickly. And look at it this way - we may have a lost a deal but we got a new friendship going

Sorry we didnt get that place. I feel kinda responsible. Since I didnt know the area I delayed putting in an offer in order to do my due diligence and information gathering. But like I said in my email - dont worry. Deals come and go and it takes many misses to get a good hit. So keep searching and the right one will come! And when it does - we know the area better and will be able to move more quickly. And look at it this way - we may have a lost a deal but we got a new friendship going

Not your fault at all, someone beat us to the punch, It happens. And yes the friendship is more valuable to me than the deal that was. Deals come and go but friends are for ever But in the end I learned a few things from you, which is a positive.
I am already searching for another deal, If I find one that looks good I will give you a call/email. I have pretty thick skin and that little voice in my head that says never give up. Enjoy your trip this weekend, and let me know when your back. I need some info from you on area's near you.

Between us we will find a great deal to partner on! So keep listening to that little voice and keep the thick skin to. It'll come in handy for climbing through more broken windows in the future

Yea,I will keep going. I do hope we do a deal together in the near future. It will be cool working with a friend and helping each other reach our goals in REI. I will keep looking, right now i see you have a full plate ( deals in the making) and that is awsome!! I hope to reach that point soon.
good luck Laura.

Richie - you will reach that point! You have the determination and are taking the action. I am learning more and more about creative financing and ways to make multiple deals happen too - which is really exciting for me. So keep your eyes open and call me anytime!

I believe I will get there, We came close on that last one. I NOW have my eye on a house around the block from me as of yesterday, It is a relative who is old and is going to go live with her son soon. It is set up as a 2 family already(but only she lives there). I have to go talk to her or her son, whoever is going to handle the sale. I will update you on that if i think the selling price is reasonable. I am also following a home in L.I. It is on the block where my wifes cousins live. its a forclosure and arv is around 450-500k going by the other homes on that block. I have to run it on totalview. i am just afraid of the taxes, that is why i didn't call you on it. plus the fact that it is 1 1/2 hrs from my house.
We will keep in touch. say hello to steve for me.
p.s. great blog with Dean. I think you looked more nervous when you met me you were like you were doing your 100th blog, relaxed and enjoying yourself.
Very proud to call you a friend.
Richie.

you are far too kind
keep me posted on your prospects.....and ditto....very proud to say I know you and have you as a friend as well!
Laura

Well as you all know Laura and I missed out on that house by a week. I see its still listed which means its not a done deal yet.So i will continue to monitor it. I called on another one that i was going to do solo, long distance in buffalo. I found a team of experts i would need to do it,inspector,agent,property managing co and contractor. I called and spoke to the listing agent and there was a problem with the title, so they told me to check back in a month. I gave them my number and asked if they would call me if it gets cleared up soon. It was a 6-bed 2-bath multi, hopefully i am first call. I figure if i get it under contract and the inspector tells me it needs alot of work that would cost me more than i can afford, I would pass it along to a rehabber in that area for a quick profit,or take on a partner.
I will have to see how it goes.
I noticed i have slowed down and not putting as much time in as i use to. I haven't been to a rei club meeting in a few months, I need to kick myself in the rear and start attending again. Soo I found a list of REI clubs within a 20 mile radius, I am going to contact a few of them and try to build up a bigger buyers list. The first club I was attending just dissapeared. like i said, i am not into wholesaling or bird dogging, but maybe i should try to do a few of them until i can do what i really want to in RE, which is to flip and buy and hold.
good luck to all
Richie.

Richie - I am attending one for the first time this Monday night, the 16th, in Woodbridge. I'm told its really good. I was referred by the DG member in south jersey who is assigning me a house outside philly. I will send you a private email when I get home with the link later today. Its a goal of mine to get involved and network that avenue too. Maybe I'll see you there!
PS - have you called the realtor back on that house? It should be listed as 'under contract' by now i would think. never hurts to follow up again....

Send me the info for sure, I am contacting other clubs to intensify my efforts of creating a healthier buyers list. I just got an e-mail from a guy I e-mailed yesterday,I found him on CL and he wants me to find homes that are shells in my area and brooklyn but no mls listings, he pays cash. I am going to offer him the property i was wholesaling for my cousin, can't get bigger rehab than that.
If the time frame works i may attend with you. i have to see if it conflicts with my work schedule. I will print maps this time Is woodbridge far from me?
I didnt call that realtor back, i just have been watching the house to see if it goes inactive, I told the agent to call me if it falls through, but i will call him ,thats a good idea, he seems a little lazy i noticed because he was going to set me up with a listings alert for the area but i never recieved it.
talk soon
Richie.

calling the agent in a minute to see if the deal fell through, spoke to that developer last night, he is not interested in the area i had the rehab for sale,but said he would tell his friends about it. He said he lost money in that area already. but i asked him a few questions and he told me to bring everything to him ,empty lots included.
Looks like I may make the trip to meet you at the meeting Laura, I will know for sure by Friday. I am also going to attend another on Tuesday in NY.
TALK TO YA SOON.
RICHIE.

its cool to see you and Laura helping/working together...And it seems like you are SO close to putting a deal together and getting the first of many to come under your belt...I keep jumping on and reading your updates...

And sounds like you had a couple adventures that included going through a window...Gotta love real estate...

Good job keepin' on, friend!! Nothing will hold you back. Whomever you connect with as a RE partner will be lucky to have you on their team.

Rina

Thanks for the very kind words Rina, I think I may take a good run at this wholesale thing just to do something!I am going to take the buyers i get from the next 2 meetings i attend and then lock up a deal and wholesale it. I know its not the avenue i want to take and have avoided it to do a flip, but maybe if i just do one it will encourage others to jump in and just do it.Besides I want to come to AZ in April or when ever Dean/Megan sets up the EDGE #2 snd its better to go on free money than my own . As you know i am not big on air planes but i wold love to attend and learn more, as well as meet everyone in person. Do you know if there is a way to look up the value of an empty lot? I have one in mind for the buyer i just made the connection with. seems a lot of these guys dont want anything from the mls for some reason, I don't understand it if its a good deal, but i guess they have their reasons.
Talk to you soon my friend

Richie.
p.s. Laura, I called the realtors office, the woman saidhe was in but then told me he would call back and took my number, never heard from him. I think I am goingto try the guy i don't like to see if he takes action, we have nothing to loose.

Sounds like a very good plan. And by wholesaling a couple times, you are bound to make great connections for your future flips (either buyers or sellers). you just can't network too much.
As far as values on vacant land, no advice off the top of my head except again getting comps from a realtor, or see if you can get transfer information from the courthouse. Also, do a search on the MLS and even Craigslist, what certain lots are being advertised for. Ask the guy what he's willing to PAY for the lots. Then he'll be setting his own value, and you can go by that.

Rina

P.S. Talking to the guy you don't like will be good practice. LOL

Thats funny, DO you think it is like good therapy for me lol, I am a really calm guy,some people tell me im too nice. I didnt say i hate him,just that i dont trust him. or did i? hate is a strong word,go with dislike It could be i am a little impatient with the regular realtor i guess, just my thinking is if i was him i would have been on it asap and returned the call,especially if it meant a salary coming my way. I am going to post each step of wholesaling to see how long it takes to do, its a good motivator also. I may also look up a contact i had for bird dogger and see if he is still interested, I know a fsbo i can refer him to.
I think i am going to have to make time to get out of work early to meet Laura at that meeting so i can build my list bigger, faster. Just hard to get out early since i was home for 3 days with an injury last week and now a flu like virus is running through the house. first wifey now my daughter.
That is a good idea with the developer, i would guess that the price would be different in different area's. One of the places he said he would not invest in is an area that they went crazy developing and lost their shirts. I wonder if he is one of them.
I will keep in touch. I have my work cut out for me for now.

Sorry to hear bout lost time at work and the flu...its running around here too. I have it now but plan on kicking it by Monday!
I agree with Rina - any avenue you can get started in RE is the right one. You may want to flip more than wholesale...but if one step isnt working right now definitely open the doors to another.
I myself plan on adding other avenues to my investing too....interested in the Greg Murphy plan and will check into that more soon.
Oh - by the way - Steve doesnt fly either. Maybe you guys can plan a road trip to AZ for the event next year
Talk soon, and keep taking action!
Laura

Road trip it is!! lol. Hey I will see you at that meeting Monday(unless i get lost) If i am correct it is near the airport. I know my way there because that is the way i go to PA.
Well, that developer got back to me last night, seems he is true to his word so far. He wants the info on the rehab i have for a friend of his. I am stopping to look at an empty lot on my way home today that he himself may be interested in. Its in a good area, commercial and houses there, i will have to find out the zoning. I was called in to work 3am today so it works out better for as i will get out earlier and can see the property in daylight.

Laura, the other agent replied to me ( the one i dont trust ), he is going to check out the house and get back to me asap he said, I think maybe we lit a fire under his butt since he thought he lost it the first time he didnt get back to me and i went to the listing agent instead. yea i may look into other avenues also, I have to re-watch the edge cd's and read the books over to refresh my memory on some of it. I watched some blog last night that was very interesting, I would love to tell Dean about it as he may be able to do something simular or hook up what they are doing with a twist of his own on it. I may speak to Rina and let her tell Dean since I know he wouldn't take a call from me. I think it could help alot of students out here if he can do it. So Rina,if you se this buzz me.

Ok, the home Laura and I were going to flip but didnt get because we were running numbers and someone put a bid in for it before we did,just came back on the market. Laura is looking into things as she is constantly moving forward and signed on to other deals. But on the other side of things I decided to try wholesaleing, I already have aguy interested in dealing with me and has now passed a deal i have to some friends to look at. that was from just one contact effort i made! Going to an REI club meeting with Laura Monday. then i have 2 more scheduled Tues, Wed. So i am in for a busy week next week.
good luck to all and dont ever give up, i didnt.

Oh,I forgot. I checked out that lot, it is zoned R4-1, I sent the info to the developer along with pics of the rehabber i have for sale to see if he is interested. i have to check my mail and see if he responded.

good luck to all
Richie.

Way to keep moving forward! So glad you are coming to meeting Monday! Directions are on the website and it doesnt sound too hard to get to.
Good job on the wholesaling! I'm also thinking - is there any way you can lock up the Howard Beach house and then try to assign it? Or at least bird dog it to your wholesaler? Do you have any buyers that might work for in case it doesnt work out for us? Because that house is definitely a good deal and will turn a nice profit. So dont count me out on that yet but just thought I'd throw those ideas out to you too! cya monday!!!

Well after a few e-mails back and forth, Laura and I are trying to move forward on the home that is back from the dead. Going to try a different strategy this time. I spoke to the developer about that lot i found, he wants a price and area which I will have tomorrow after I call the owner. So I hope that goes through to give me and Laura some more funds in case we need it.
I hope to make some contacts tomorrow at the meeting and the other 2 i am attending this week. I am drawing up some flyers to hand out.

Ok,here is a letter ( on a letter head)i am distributing out at the REI meeting tonight and at the others this week.Please feel free to critique it,
BCRE INC
PHONE# xxx-xxx-xxxx
E-MAIL BC xxxx
WEB: BCREwholesaling.com
FAX# xxx-xxx-xxxx

Dear Investor.
Are you interested in purchasing property in Queens, Long Island, Brooklyn, and NJ? Wouldn’t it be great to have homes or land that fit your criteria brought to you, saving you time and money.
We can supply you with great deals on properties that will be 30% or more below FMV.
What we do is take your information on what type of properties you are looking for and locate and lock up those properties at a great price. We then pass the property on to you. It’s a win/win for both, you get a property at a great price without wasting any effort or valuable time and we get our fee. Our web site is under renovation currently but will be up and running soon.
On our web site you will need to fill out a form with a few questions so that we can give you our best effort in finding properties that fit your criteria. Or you can fax us your criteria.
What we will need to know besides your criteria is can you pay cash and how fast you can close as well as the areas of interest.
Thank you for you time, we hope to build a long lasting and trustful relationship with you in the near future.

Richard Randall
President