Verna's (newage8767) Journal

Congratulations for starting your journal and welcome the the DG website community. The website is packed with a bunch of great information and inspiration. It is great how you outline your action steps and your goals. When things are written down they can become more of a reminder to accomplish. Try to spend some time each day to do a little to more closer to your goals. Over time, you will gain knowledge and good things will happen. Good luck with real estate investing. You can do it! Believe and Achieve! - Joe

Verna,
Great plan. You are making me rethink my plans (LOL). Welcome 2 the family. Go 4 it, you can do it!

God Bless,
Serena

I think this journal is a great idea. I write everything down anyway, but putting it here allowing others to see it will tend to make me try to stick to my goals a little better. Also, if there is something that I'm doing or not doing, hopefully someone will see it and clarify things for me, particularly if I'm not going down the right road.

Thanks for your encouragement. Financially I'm not in good shape and need to change things in quick order. Prayerfully, this will change the tide for me and my family.

Verna
(newage8767)

Well, I'm still trying to complete setting up my team. This is not an easy task. Lots of contacts to make and then a lot of interviews to do. I'm trying to multi-task getting each team member. I am going to try to post some ads on craigslist by tomorrow. Since I am going to do assignment contracts I think I really only need to obtain a RE Agent and and Attorney for right now. I also need to find out if I need to get the home inspected before assigning the contract to the end buyer.

Read up on short sales today. I think they should be called long sales instead. From everything I gather purchasing a short sale can be a lengthy process and the lender has final approval of your offer. Don't think this is for me. I want to get in and get out quickly so I can get paid!

Well, I think I'll close up business for the day. Been on this computer since about 8AM and it's now almost 6PM!

Verna (newage8767)

Thank you for sharing your journal. I'm looking forward to hearing about your progress.

Wish you much success in REI.

Lea
SPR Property Solutions, LLC

whoa reading your posts seriously just make me wanna go harder at real estate, and make a plan like you have! haha. good luckkk! (:

Great start on all your goals and plans! And, welcome to the DG family. Its the best place you can imagine for support and information. I agree with your assessment on short sales being called long sales hahaha. Very true. They can be extremely frustrating. Best thing with them is to put offers in and then move forward with other options as well while you wait...and wait...and wait. But again, congrats on starting your journal and your real estate journey! Look forward to reading about your successes!

Thanks Everyone --

I appreciate the encouragement. It helps to keep me motivated. I am definitely trying to succeed at this and I'm working to work hard at it.

Verna (newage8767)

Well, as I said yesterday I wanted to try to post some ads on Craig's List. I did accomplish that task earlier this morning. Hopefully, I will be able to select a RE Agent and Attorney by the end of next week at the latest. If anyone can refer either an agent or attorney (or both) in the MD (Baltimore) area I would be sooooo greatful!

I have been devoting just about every waking moment to getting this up and running ever since I received Dean's book in late October. I think today I will try to pay some attention to my home. It needs some cleaning! But, at least I did accomplish at least one thing today for the investment business. Maybe, I'll get back to it a little later today.

Still Forging Ahead,

Verna (newage8767)

Yesterday my goal was to post ads on craig's list, which I did. I posted 3 ads looking for real estate agents, real estate attorneys and investors (end buyers). I am happy to say that I received a response from a real estate attorney/investor the same day I posted. I am going to try to set up an appointment with her for a date early this week as my goal was to complete my team by 11/14/09.

My goal for tomorrow is to drop/post flyers for agents and end buyers. I actually already have at least one end buyer now, but want to get a few more to be safe.

I have a goal to make at least 1 deal and make at least 10K profit by December 4, 2009!

I may be taking baby step, but at least I'm moving forward!

I can do all things through Christ who strengthens me!!!

Verna (newage8767)

What will this day bring?

FOLLOW-UP PENDING ACTIONS:

This morning I contacted the RE attorney who responded to my ad and scheduled a meeting for this Thursday! One more task accomplished! The attorney is also an investor so maybe I get to kill two birds with one stone (i.e. also add him to my buyers lists)

TASKS TO COMPLETE TODAY:

1) I will contact at least 3 buyers to do a telephone interview to find out what kinds of properties they are looking for. -- ACTION COMPLETED

2) I will contact at least 3 brokers offices to inquire about agents who work with investors to try to get an appointment to interview agents. -- STILL PENDING

3) I will create all my interview worksheets to have them ready and available for use when interviewing. --ACTION COMPLETED

My goal is to have a RE attorney and an agent on my team by COB 11/14/09. I'm trying to accomplish that.

Verna (newage8767)

Today I concentrated on connecting with end buyers. I have contacted 4 buyers. I now have 2 buyers on my list and am waiting for call backs from 2 others. I may not wait for a call back. I think I will just call them back tomorrow.

I haven't done any contacts with Agents yet. I think I'm avoiding them! LOL
I am going to try to make calls to some agents tomorrow for sure! My deadline is fast approaching (11/14/09) to have my agent and buyers. I need to do some phone interviews with some agents tomorrow for sure.

You have a great plan laid out, and you are moving forward every day. Congrats! I look forward to each "addition" you place on your team. Good luck on the interviews!

Rina

Thanks for the continued encouragement. It helps a lot. I can't wait for that first deal. Once I get that under my belt there will be no stopping me!

Have a great day.

P.S. I am sending you a PM on something different since I have tried other sources to me to no avail.

Today was a great day even though it's raining here in Baltimore, MD!

My goal deadline for 11/14/09 was to get a team assembled. I DID IT!!

Today I met with a real estate attorney who is also an investor. I also met with a real estate agent who is also an investor. I call that killing two birds with one stone. So, my RE Agent and my RE Attorney are both also buyers.

I think I am still going to continue interviewing to find a backup realtor and attorney. And, I'm never going to stop building my buyer list.

I now have an agent, an attorney and 4 buyers!!!

I'm ready to go! LOL My goal is to complete my first assignment deal by 12/4/09 for 10K or more! I may also throw in a couple of bird-dogs to get some real quick cash!

I'm on my way DG Family!

Great job getting your team together so quickly. You are doing all the right things. Setting goals and then the important part, doing something each day to move you toward accomplishing those goals. I have no doubt that you will have your first assignment done by 12/4/09. You're on fire! Keep it up.

Bruce

Thanks muchly! I'm just DETERMINED! But, I'm getting a little nervous too about doing that first deal!

I'm also hoping that other newbies will feel a spark from me to get and keep moving.

Thanks again for the encouragement.

Well, I got a team together, but I'm starting to feel a little shaky! Making that first move to actually attempt to get and lock up a contract is really a big deal! Although I am still very determined to make this work for me, my confidence in my ability to actually do it is waivering!

I definitely understand the concept of assignment contracts, which is what I want to start with, but what I have trouble with is understanding how to size up the property to determine if it will be profitable for myself and the end buyer. I have a buyer who has given me very specific criteria of what he is looking for and I'm sure I can find those properties in the areas that he wants. My problem is crunching the numbers to ensure that we both make a profit.

I really don't have the funds to put out on an inspector or contractor to determine how much work and cost needs to be put in the property so I guess I need to reply on my own numbers. The buyer said that he would help with the numbers, but to do that I would need to disclose the property to him before I have an assignment contract with him, so I don't want to do that. Plus, if he has to do some work on the deal he may not want to give me my full payment!

I'm also afraid of locking up a contract with a seller and not being able to get rid of it with an end buyer! That is my biggest fear of getting stuck with a property that I have no money to purchase!

I'm trying to stay calm, but I'm getting cold feet! Maybe I should just bird-dog a few before I attempt the assignment contract.

I think I need to do some re-grouping with my emotions! The closer I get to actually doing this, the more scary it gets!

I can do this! I can do this! I can do this!

Verna, you are right! You CAN do this, girlfriend! Like you said, just take a deep breath, regroup your thoughts and you can do it..
Another thought would be to bird-dog the first property and do the walk-thru and the rehab numbers with your buyer. That way you could learn from him and build a relationship, and he could be confident in your ability to find him great deals.
Either way you choose, the more you experience and the more you run the numbers, you will fell more and more confident in your REI. You just have to get past this beginning stage. That's the hardest part.. Gotta just force yourself to do it.

Rina

You are absolutely correct. I just have to get past this stage. I know once I do that first deal I will gain the solid confidence that I need.

I like the idea of doing the bird-dog first time out and working with the buyer to help me with the numbers. That's a great idea. I think I'll try it that way first.

Thanks Rina.

looking forward to seeing your confidence build.