Diary of a Mad Real Estate Investor aka KimmyJ

Woo hoo...Go Kimmy! Just one thing...Like Marshal Sylver always says..."Goals are made to be broken therefore develop PLANS not goals"
Set a daily routine to accomplish your PLAN and you will see such a difference.

I am glad you kept your appointment with your realtor. IF you can find a good one you will make a lot more money than going at it alone. They have a lot of access to information that you will need.

When it comes to your educational loans just look at it as an investment you have made in yourself. You will be using your college skills for the rest of your life. It will help you succeed in your real estate investing.
I have right at $80K in college debt and 7 wonderful years of learning. I am thankful for every bit of it.

From now on evey day has to be a positive day for you. This is the year you can make a fortune in Real estate investing. You will be making a load of money this year if you apply yourself. There has been nor will there ever be a time in the history of real estate like you will experience this coming year.
The coaching will give you a kick start for your learning and REI career.
Be prepared for a phone that will ring non stop once you get the word out that you buy and sell houses. Sometimes I have to put my phone on automatic and leave home for a while to get away from the sound of the ringing.

You are going to do great. Stay positive and read all you can on this site...and HEY...no more sad doggy movies.
Sissy

You are doing Great! Stay Focused and trust the process. Plan your day it would help keep moving you forward. Remember, "Those who fail to plan, plan to fail!"

Stay positive and start with the end in mind. See the good in every negative situation. You can do it, we believe in you. Believe and you can Succeed!

And like Sissy said, no more dog movies.

Have Fun!

Wayne

You inspire me. I have been subscribing to, attending seminars about and purchasing everything under the sun about real estate, but until I read your journal entry I realized the only thing I every needed to do was something....That is what I am doing today.

Hi Kimmy,

Sounds like you have made a really great start! Keep taking action a little everyday, push past all obstacles and you will be amazed by your progress and opportunities that start coming your way. One day at a time is my approach even though, like everyone...I want Rome built in a day....I'm only human:)

Don't forget to join your local REI club as you are sure to make fantastic contacts and potential buyers for your properties. I go to my first one next week.

Best of luck and DON'T GIVE UP!

"Happiness is not ready made, it comes from your own actions"
Dalai Lama

Jennifer

First, I want to say "Thank you" to all of you who responded to my posting. It is a great feeling to know that I can always find hope and encouragement from the DG Family.

Okay, here is what I just did. I received a call back from Dean's Success Academy. I (or I should say my spouse and I) talked with a great representative. We chatted about some stuff and then we went for it... with the little left over credit we had, we joined Dean's Coaching Program. My spouse and I decided that we have made a lot of dumb decisions in the past and spent money on stupid things, but this time we are going to invest in our future. I'm taking action like a mad real estate investor.

KimmyJ

"I press on toward the goal for the prize of the upward call of God in Jesus."
Phil. 3:14

Despite the fact that you were serious about past mistakes and present ventures, you method of speaking was hilarious, lol. Have you ever thought of doing comedy. I know you will do great. Anyway as Sistreat said, your student loan is "an investment you have made in yourself," that will help in your real estate business. "Nothing can stop you now." You have set the stage for action, now let the players act. A friend greeted me on New Years with this phrases for success this year. She asked that I should, "keep in mind that, 2009 is mine." Something to meditate on. This is our year. Stay focus and things will happen. Good Luck and God Bless.

Sandra

You Go girl, I just love your journal. I love how you turned it upside down and decided to take the bull by the horn. It turned around so fast. I agree with Sis, most of us have been setting goals and making resolution for years....but oh until you got a PLAN in place you are heading no where fast.

That PLAN is the key to success. You are on the road and I am right behind you cheering you on. Don't get caught up in the numbers right now, some debt is good debt and education is always one that is good. The other you can deal with when you start bringing in the $$$$ with your REI business.

And Kimmy don't take what Determined Jennifer said lightly, get to the first REI club you find and keep going until you find the one for you but it will be the best thing for you business. I will be at my on Thursday I can not wait.

I'll be at mine tonight too in Houston, Texas

I have found it so very important to plug in to like minded people. If you don't you can easily get plugged back in the that old mindset that held you back for years.

Get it going, I am so excited for all the updates.

I witnessed something interesting today. I am a teacher. I teach preschool special education. In my classroom I have two classroom aides. One of them has been working as an aide for 10 years in preschool special education. I've been working with her for 3 years. While she has been working, she has taken 2 courses a semester at the local community college. Her dream... to teach Head Start. About 3 years ago, she received her AA degree in early childhood education. For the last 2 years she has interviewed for Head Start positions on several occassions. Each time she interviewed, she would tell me that she was too old (54 years), that she wasn't bilingual, that she just knew she wouldn't get the job. Each time she would receive the "thank you, but no thank you" letter. I would tell her she needed to keep going, get the negative crazy talk out of her head, think of it as more interviewing practice. Well, at the beginning of the school year another position became available. She went to interview, but never heard anything back. She told me later that she knew she wasn't going to get the job. My repsonse, "You never know... you didn't get a letter, so things may be different this time." Today, she received the call. Our school district offered her a teaching position. I was thrilled for her. She had waited 10 years! I thought she would be thrilled. Instead, for the first time ever, I saw a strong person look scared, uncertain, wavering and making excuses of why she shouldn't take the job. Being the good friend and colleague that I am, I told her she would take the job or I would request that she be removed from my room. Needless to say, she overcame her fear and accepted the job an hour later. What is my point?

1. Fear of success is just as powerful as fear of failure. Don't let the fear of success stop you from fulfilling your real estate dreams.

2. Perseverance and fortitude does pay off. Although, it can be a slcw process, don't give up! You will find the deals and get the buyers!

3. Sometimes, the things that happen to our friends helps build the faith and persistence we need in our own lives. I realized today that I can give the positive power talks to other people, but I have difficulty giving them to myself. Therefore, I need to practice what I preach. I know I can be a mad real estate investor!

KimmyJ

Kimmy,

That is so good, thanks for posting that great story of inspiration. I just returned home from my 2nd REI club meeting, the topic today was funding it was really need they cover from covential, to fha, to hml, and partnership/assign/wholesale. It was great information. It is truly ment that a read your post tonight b/c I left the meeing feeling inspired yet a little low.

My current situation makes it difficult to start any type of business....yet not impossible. So after reading your post I got the power to chase the negative talk out of my head. Thank you so much.

That was a very moving story. She was blessed to have a good friend like you to push her, or she may have missed out again. So true, isn't it, that we can be our own worst enemies. I was thinking today about how I used to "feel" like I didn't "deserve" to have success, that it was my duty to help OTHERS succeed. That is so far from the truth! By succeeding MYSELF I can help others see THEIR potential!
I sure appreciate you ladies and all that you are contributing to everyone here.
I wish you all the success you DESERVE!!!

God bless,

Rina

So, I sit here on a Friday night in my pajamas (I know not much of a social life) and I am burning up. No, not burning up with real estate passion (I mean not at this particular moment), but burning because I made salsa tonight. I put jalapeno in my salsa and I rubbed my nose. Needless to say my nose is on fire. I need to take my mind off the burning sensation, so I thought to myself... this might be a good time to reflect on what I have done the past few days in working towards my multi-million dollar plans.

Tuesday, I went through Dean's Success Academy Orientation. Checked out several websites that the coach gave me. Talked with my real estate agent and gave her several listings I was interested in. She will be researching and getting back to me. She sent me a list of Notice of Defaults (it's absolutely amazing how much $$$ people are in debt. I'm talking 3rd and 4th loans being upside down 3,4 or even $500,000). Cruised the internet for local real estate investor clubs. Closest ones are an hour away. I registered to attend a free REI club training on Asset Protection and How to Build Corporate Credit Without a Personal Guarantee and Short Sales. We'll see how it goes.

Wednesday, I kept my appointment with the success coach and he introduced me to the whole online learning center for Dean's Success Academy. I chose the On Demand learning vs. the webinars because I can access the curriculum any time. I have an hour lunch break, so I thought I could use that hour to learn. Went through the introduction module. I liked it. I finished my graduate degree over a year ago, and I think I miss taking classes. I got a 100% on the quiz (I'm such a goody-goody).

Thursday, I started on the second module. I printed the module attachments and read through it. On Saturday, I'll watch the presentation and complete the action tasks required.

Friday, I'm experiencing heartburn (I think I went a little crazy with the jalapeno), checking out DG and updating my journal. Tonight... I'm a "burin' mad real estate investor.

KimmyJ

Commit to the Lord whatever you do, and your plans will succeed. Prov. 16.3

Boy the weekend went quick...

Saturday, I went through my first lesson from Dean's Success Academy. It is a very easy system to use. Did some research on the internet for possible properties. Ordered an 800#, business cards and a domain name (www.IWANT2SELLNOW.com). I thought it was an easy website to remember.

Sunday, I found a house right around the corner from me. I have had my eye on this house for a very long time. I'm a little bummed because the "go-getter" who is selling it purchased it for $27,700 which is UNHEARD of in my area. I don't like to have regrets, but this is a perfect example of letting fear stop me from being the first to offer money on this cute little house. The house looked like a junker and another investor saw opportunity and snatched it up. The house is a fixer and he is asking $59900 for the house now which is still an outstanding deal. I'm trying to figure out how I can get this house for a cheaper price and wholesale it to a young couple who can fix it up.

Tonight, I'm just a mad investor figuring things out...

KimmyJ

Commit to the Lord whatever you do, and your plans will succeed. Prov. 16.3

I just finished the 5th module of DG's Success Academy. Things seem to be going slow. I know if I keep my on the ball, I'll eventually catch a deal!

I posted a few days ago about a commerical property that an elderly man has for sale. I think it's a good deal, but I'm waiting for my real estate agent to do the comps. If it is a good deal, I'm going to bite the bullet and sign it up. It will be my first deal. It will be baptism by fire, but then I wouldn't be a mad real estate investor...

KimmyJ

Hey KimmyJ, how are financing your deals? Do u have potential cash buyers, HML or cash reserves?? Just thot I would ask....Shalom!!!

I am not in the position to finance my deals, so I am trying to go the wholesaling route. I have a few potential cash buyers, but I definitely need more cash buyers to have a solid list. I am going with the attitude that if I can lock a property up then I WILL FIND THE BUYER. Are you financing your own deals? Any suggestions?

Okay, so I haven't written in my journal for over 2 months, but I've been BUSY trying to get this real estate thing off the ground. I've been posting information that I come across and reading other people's threads. This RE thing is crazy. I've been making offers like a mad women on REO properties. I'm working the 25:1 offer system, but to no avail. I don't get what the banks want. There is no rhyme nor reason to how they accept offers. For example, I put an offer in two days ago on 3/2 house in a not-so great area. Honestly, it's our desert version of watts, but with a Beverly Hills zip code. Asking price was $78k, needs $10k in repairs. Initially, I offered $45k. The listing agent called my agent and said, "Hey, I received 5 offers this morning including yours. It was like all 5 people went out to breakfast and decided to offer the same amount. What do you want to do?" I was excited because the listing agent was giving us hint to the situation. So, I looked at the big picture. The area is bordering junk, but the cash flow is phenomenal. So, I upped my offer to $57,900, 21 day escrow. Today, the listing agent called my agent and told her the bank rejected ALL the offers and are closing them out. I just don't get what they want. I had another realtor call and tell my realtor that the bank won't accept any offer below asking price. What??? Just put the dang offer in. My realtor is frustrated because the other realtors are losers. She has wasted a ream of paper (her concern not mine) printing out offers that we can't even get through to the bank. Not to mention time.

The majority of us newbies have been asking 101 questions on methods of wholesaling REO's. I keep taking in all the information, but I'm not even concerned anymore on the how, or can it be done. I'm concerned with the "when will happen?" When will I get that offer accepted? I am trying to avoid all the obstacle questions. I don't want to fill my head with the "what ifs." If you start filling your head with "what ifs" it will eventually turn into "doubt thinking" which will turn into "fear thinking." I don't want that.

I've also been working on motivated sellers. I've had a few calls, but nothing pans out. Once we talk about options, they all seem to want to let their house go to foreclosure or do a loan modification. The motivated sellers who really want to sell, won't do to losing too much money. Frustrating.

I've been working on my website. It's coming along nicely. I'm trying to capture my buyers through my website. I have a squeeze page now and I am working on my blog and forum.

I can't wait to get that first deal. I can taste it. I MUST continue to take ACTION! I need to keep putting in offers like a "Mad Real Estate Investor!"

KimmyJ

Provide the best wholesale deals in Southern California.

Create a network of investors who can share, strategize and mentor other investors.

Help investors reach their ultimate potential, both personally and financially.

Give back to local communities.

People come FIRST before profits.

Kimmy,I read your post,As to your "J"! So let me get this right...The buck
stops,Here! I love that term {SAYING).Sissy says...Positive! Wayne says...
The end in mind!
Oh, And by the way...Kimmy is special education!
I did not know...the heart...YOU HAVE! There is something i want to share.
I will tell anybody i meet,MY heart is...True! That means i am honest.
The only thing i keep to myself is...My heart is for my family.And my ba-ls
are for business!
Kimmy,I know some saying can be harsh! It is never about what it sounds like,
More important in what it stands...For!
And i give my heart to you...You are REI! Good one,DG family.

Randy
"People come (FIRST) before profits" by KIMMY

I sent my RE agent, who is also my good friend, a copy of Jason's great news about possibly getting a deal locked up. Sort of... a light at the end of the tunnel. This was my realtor's response. (Curtis & Cindy are local wholesalers)

KA
You know I only wish you the best!!!
My husbands spring break turned to be dirt!!! Wouldn't yours have been better ..... I spent 4-6 hrs a day as well as you or more following up on empty offers.
I don't mind the time, paper, ink, etc,....but in order for me to continue with my other buyers, I need to distribute time...energy..etc equally...You may make money...at this point as we both have it....NOTTA ......nothing$$$$$$$!
This constant rejection sends a message that other terms need to be met!
Congrats on the 25 verbal & a million leads to zero or maybe 1-2 closing... the selling agent may make 1% or less. The buyer may make more or less but there are a zillion other Curtis & Cindy's out there making offers!
I have spent some serious hrs sending these offers out to get kicked....now it's Fri & I am backed up with real estate that I once again put off!! You know how it feels...in school...in billing....in real estate....the dead horse just isn't worth it some times....
I love you like a sister but we have to find a niche...an area that will accommodate us all.
I have had a hell of a week a may just be feelin blue...I can't imagine that you would feel any different.
jg

So, now I need to find a new realtor. This really sucks, but I have to keep my eye on the prize. After all I'm a Mad Real Estate Investor.

KimmyJ

You and I have always shared the same feelings and are committed to making this happen and I love it.We just keep getting stronger and dont even know it.I have came close to losing my Realtor because of the same reasons and I told myself that I would keep offers going out by myself and in the meantime, find a RE agent that's familiar with Investing and possibly get a good strategy out of them.
The main problem is since Dec 08 homes in our area are selling and the buyers are out.I really believe that the MLS is not the place to find these deals that our Cash buyers are finding and looking for.
I cant wait to make some money because I know how critical it is to advertise to get the leads we're looking for and for now we are doing it the hardest way.

Example of money to be spent----Realty Trac,1-800#,ads,fliers,NOD letters,websites, and calling or emailing as many FSBO's as I can. ----That's my plan----if I can just get a couple of deals done.....

Randdee, thank you for the kind words and inspiration.

Jason, my RE brother... Thank you for always keeping my spirits up and showing me the big picture for the future, not the present situation. I agree new strategies are needed. I will be working on these new strategies over the weekend like a mad real estate investor.

Okay, I can say this because I am a girl... sometimes I just don't get females and I am a female. (Do I hear the boys whooping and hollering?) After receiving my realtor's email, I emailed her back and said "No problem, I understand." She just wrote back and said, "Hey Chick, I'm not quitting. We just need a better strategy." Confused, but THRILLED I don't need to find another agent. I am going to try to seek information from my local wholesaler and find out how he is getting his deals accepted. He is doing at least 4 deals a month. I will still write up a new strategy with the traditional methods like bandit signs, FSBO, etc. This RE thing is such a roller coaster ride of emotions, but I love the feeling of being a Mad Real Estate Investor!

KimmyJ

Kimmy, I like the...Sometimes i just do not get females! Still, If mama
is not happy...Nobody is happy!!! I like something better than that?
"THIS RE thing is such a...roller coaster ride of emotions,But i love
the feeling of being a MADREI"
AS simple does...AS simple as, It can be!
I know my answers...Might not be what people expect!
If i gave you the answer...I would not need you!
Think about it? People find for...Them self! You are an angel/REI.

Randy/813

I read the reply i just left you!My goal is to buy houses.
I am not a REAgent/REbroker/REattorney...I just buy property!
From reading your "J" ...It is time to get that deal, DONE!
If you have a REA that can be molded, I truly believe...Do not stop
looking for another!
Still we must take advantage of the present...For the future,Has not happen!
Then again i chose to...Flip the coin...See the coin reminds, I have two sides

2for1

Ok...Im a guy, so I probably can't say it unlike you but Im gunna anyways...I don't get females either...But I am glad to hear all is not lost with the agent, especially if its a friend...Another strategy may not be a bad thing, as long as you can find what works for everyone...That is what counts...I don't blame you for getting confused either...i know I would...So have you guys talked it over, and come up with a new game plan???

I'm going to try a new strategy for making offers on REOs. I've tried the 25:1 strategy and it hasn't worked for me. I am not saying it doesn't work. I'm just saying it doesn't currently fit my market. My market is hot and I have a lot of competition. So here is the new strategy...

1.Target My Offers; this means no willy nilly offers with no rhyme nor reason.
2.My offers should be within 10-15% of a deal ALREADY before I make an offer.

For example:

FMV $200k

For it be a deal it needs to be 50%-70% of FMV, depending on condition and area.

So: $200k X 60% = $120k for a deal.

Therefore, I need to find a listing no higher than $140k to offer $120k.

3.Prime times to make my offers on REOs;
1) Day 1 On Market
2) Massive Price Reductions
3) Fall Out of Escrow/Closing
4) Board Ups (houses that are boarded up)
5) Trouble with the City (code violations, illegal additions, etc.)

So, starting tomorrow at 8AM I will be making offers like a Mad Real Estate Investor!

KimmyJ

I just enjoy reading your daily updates or should I say open dairy. Your momentum is infectious. Looking forward to more.

Sandra

Just put in my first offer using my new strategy. My realtor is excited about the new strategy. She thinks we should easily be able to do at least 2 deals a month. Here are the details.

3/2 1517 sq ft 2 car garage pool & spa 10k sq ft lot

FMV: 240K

Listed for $174900

Repairs needed $20k

Offer $140K

I'll keep you posted on whether they accept the offer. It's fun being a Mad Real Estate Investor...

KimmyJ