The Journey to Freedom

Well I'm meeting with my good friend and mentor, Greg. He's a leader in our REI group and I'm trying to meet with him regularly to keep me on track and accountable besides everyone here. Actually I get overwhelmed often by all the responsibilities that so many of us carry. But I won't let it stop me. I don't remember Greg's exact words but it was something like Dean would say, 'If you don't change today everything will stay the same'. I don't like the same rut I'm in day in/day out; I get tired of all the calls to go to different cities/towns to cover their evals that they can't find anyone else to do. I can say no but it's hard because this is what's paying the bills right now but not for long and I want these people (patients) to get the therapy that they deserve. I do like to help people. I miss being able to be with daughter more and working out of town isn't always fun. I do use the drive to listen to audios/books, etc. I know Matt got tired of the same as well. I just have to get this thing moving a little faster. I am excited about the assignment deal. Also I need to put in offers this week on the ones I looked at. There's 2 I'm trying to find numbers for the banks that own them; I have names but not location so hard to find numbers but I did call a number and left message. Off to eat some dinner and meet Greg.
Cathy

You forgot to cheer yourself on, so I'll do it for you.

YOU GO GIRL!

Kristin

Thank you Kristin. It helps to have someone else cheer us on once in awhile.

I never removed my ad from Craiglist on lease option house but got this email from Romania from a lady living there but moving here. I did respond requesting more info regards to price, city/state, etc. I received email back but was fishy and not the kind I wanted to bite; spam written all over it. They wanted my full name, mailing address, so they could send me a check certified. I did call the academy to see if anyone has heard of this. I'm not giving my personal info out to someone in Romania. Just thought I'd share so if it happens to someone else. My keyboard isn't working right. It's taking me forever to get this typed and posted. I am putting in some offers this week.

You Go Girl!!!
Cathy

They send you a check for more than you are asking and ask you to send the difference back to them. Don't fall for it.

Thanks Cathy. I didn't fall for it. I had my checking account compensated less than a year ago and it was through the internet with Xbox online so that situation made me more aware of the true scams that go on. Thank goodness my antennae went like the coach from academy said and they felt the same way about it. Also he said sometimes they will send the check and then want to cancel and ask you to send it back but after 3 weeks their check bounces so you're out of luck or at least something like that.

Thanks Cathy for conmfirming my thoughts.
You keep on truckin'
Cathy

I have come across that with posting some ads on CL. Good thing those antennae we up and receiving the right signals. Makes me angry that there are people out there that spend so much time trying to screw people out of money instead of spending that same energy trying to figure out legal ways to earn a living. Good job and thanks for reminding us of the wolves out there lurking!

Kristin

Thanks so much Kristin for your info. as well. Well I had more to say but my laptop lost the connection with the wireless so I will try later. It's been a long week with my daughter being in the musical at high school and I did look at 2 properties today but need to do more but Cathy you're doing your best that you can right now where you're at. Keep it up and you go too Kristin. We can do this.
CAthy

We can and will do this with the support and help from great friends (especially online virtual ones.) Great job and I hope to post some progress soon.

Kristin

I'm in a predicament with REOs. They seem to be pretty hot right now and for good reason. The dilemma for me is I have to put in my best and final offer on some of them due to multiple offers. I'm trying to find the quiet ones that maybe no one else is finding. But not too much luck yet on that one. I saw a house tonight with an offer on it but not accepted as of yet. It was in pretty good condition: some siding needs to be replaced on side and in back; roof is sloped in a section, not sure why or what's going on with that; kitchen ok with good cabinets and BA decent as well. Carpeting could be cleaned/replaced depending on what you do with the house. Of course some patch/paint throughout. 2 BR need some repairs on walls; and 4 doors (entry/screen doors) need to be replaced and needs closet doors to all BRs and appliances. I think/believe you could get most repairs done less than $10,000. Other than that ok for the most part. Price was reduced as well. My low number realtor said probably wouldn't get me the house so not sure what to do. I'm rethinking but need to get offer in right away in the am. LP is 69900 and was 79900. FMV is around $86000. I don't know rents in that area too well but I'm sure I could get a minimum of $850, had fenced in yard and was good sized and a single attached garage. I have to go over numbers again.
Well you're doing great CAthy; you can do this. YOu were meant to be successful and you will get there. Love you girl!
Cathy

Well REO had accepted offer before I got my act together. Oh well. I need to just put in offers sight unseen but realtor thinks for my safety I'm better to look at them first. What to do? She's willing to put in low offers so that's not a problem. Will just continue the ride and see where it leads? It's going to pay off; just takes time and worth every bit of it. Well have to go for now. Saw an ad from an investor retiring but not sure; I have to get rid of the doubt in my head and just ask? Yikes. Glad I can get rid of the junk here on this journal.
Cathy

Just have to keep moving forward; babysteps each day. I did get counter offer on a house; very excited about that, we'll see what happens. Also working on a 4 plex that might be possible to do contract for deed or assumption; we'll see. I just have to run the numbers and talk with someone to make sure I'm doing it correctly before I put in offer. I did buy a Brian Tracy book and so started reading that. I finished reading the bible from front to back and took me about 8 months; at least I completed it. I didn't set a time frame other than just reading it everyday. that's it for now.
Love yourself,
Cathy

I had a counter on a property and sent a counter back on it so we'll see. Then there was an ad from an investor retiring and I'm interested in calling him. At first I wasn't because those negative thoughts came in my mind but no more. The ad stated only serious calls please or something like that. But if I could get some help with financing the down payment and/or see if they're willing to separate the properties; I might have a chance. I'm going to call this afternoon (hopefully I can find the ad again) and see what they have to say. All I can do is ask. Also I have another income property I'm seeking some further advice on. I have only a few weeks to meet goal; 5 deals. Oh I haven't closed on the assignment deal; something didn't get done or it didn't get scheduled so now I'm waiting to get date from everyone on the closing; a bit nerve racking to say the least.
Cathy

Happy Tuesday. Awaiting appraisal to close on my assignment deal; it should be sometime this week. Also I'm horrible because I find out people interested in buying their home and pass them onto the realtor or Dean's website without getting more info to put them on 'my' buyer's list, uggh! I have to do better on this one. On this other REO I am getting counters but not budging too much from their listing price; I will submit a counter with some repairs needed to see if they will move or not because their 'final' offer was $42500 but my last counter was $37000 so this may be one where I let it go and maybe it will come back to me for even a lower price; time will tell. I won't give up. Oh I love Brian Tracy's book that I'm reading 'Change your thinking, change your life' I think that's the title. Can't wait for the Edge event. Although I may have to find someone else to share the cost with; Scott hasn't been around and I'm not sure he's going or not; sent him an email and a pm so just have to wait I guess.

That's it for now. More things to do yet today.
Love ya girl!

Cathy

Happy Tuesday. Awaiting appraisal to close on my assignment deal; it should be sometime this week. Also I'm horrible because I find out people interested in buying their home and pass them onto the realtor or Dean's website without getting more info to put them on 'my' buyer's list, uggh! I have to do better on this one. On this other REO I am getting counters but not budging too much from their listing price; I will submit a counter with some repairs needed to see if they will move or not because their 'final' offer was $42500 but my last counter was $37000 so this may be one where I let it go and maybe it will come back to me for even a lower price; time will tell. I won't give up. Oh I love Brian Tracy's book that I'm reading 'Change your thinking, change your life' I think that's the title. Can't wait for the Edge event. Although I may have to find someone else to share the cost with; Scott hasn't been around and I'm not sure he's going or not; sent him an email and a pm so just have to wait I guess.

That's it for now. More things to do yet today.
Love ya girl!

Cathy

Happy Tuesday. Awaiting appraisal to close on my assignment deal; it should be sometime this week. Also I'm horrible because I find out people interested in buying their home and pass them onto the realtor or Dean's website without getting more info to put them on 'my' buyer's list, uggh! I have to do better on this one. On this other REO I am getting counters but not budging too much from their listing price; I will submit a counter with some repairs needed to see if they will move or not because their 'final' offer was $42500 but my last counter was $37000 so this may be one where I let it go and maybe it will come back to me for even a lower price; time will tell. I won't give up. Oh I love Brian Tracy's book that I'm reading 'Change your thinking, change your life' I think that's the title. Can't wait for the Edge event. Although I may have to find someone else to share the cost with; Scott hasn't been around and I'm not sure he's going or not; sent him an email and a pm so just have to wait I guess.

That's it for now. More things to do yet today.
Love ya girl!

Cathy

Interesting. No word about closing on assignment other than awaiting appraisal I guess so I was hoping this week but we'll see.

Also I had looked at a 4 plex a couple weeks ago and getting comps and some clarification on what tenants pay and such. The listing price even dropped $10,000. However after working the numbers it didn't cash flow properly; it was like $50/month and that was without maintenance and advertising fees. Well received email from my realtor that seller is willing to sell on contract (assumption of loan) with the down payment being seller's expenses for closing costs. So my realtor informed the seller's realtor to put in an email all costs/terms/price/etc. so we'll see. That was a big surprise because I hadn't put in an offer yet but my realtor told seller's realtor that I would be very interested in the seller finance because I was getting started and this could help me to buy other properties. So there you go. Also called a mortgage lender about their terms for loans on investment properties and hopefully will hear back today. I am trying to call up to 5 lenders to make appointments and meet with them to discuss my business plan as well as their needs to see if we could work out something. Also many of these lenders have REOs so I hope to ease into that like Joe and Stacey and see if I could unload a couple properties from them. Babysteps, Babysteps! I can and will do this!

Cathy

Work is slow and I just want to do REI all the time or at least more than my full time job. I'm happy and excited. There was another counter on this REO I've been dealing with and now we are going to accept offer of $40000 with the clause that the electrical be inspected and repaired by the seller. When I went into this house all the outlets had been removed so not sure what works, etc. So this would help if the seller financed the repairs. We're not sure about plumbing and the house inspection but it's a low offer and hopefully will be accepted by the seller. They have been quick about responding back so we'll see. I might have some good news by tomorrow.

Called some lenders to make appointments about financing, etc. Can't wait for the EDGE event in 2 weeks. Also I'm taking my daughter to NYC the first week of June, before she leaves later this year for her year abroad in Germany for her junior year. We have our flights booked but not rooms; never been there so not sure where to stay or what part but will research it out; definitely downtown somewhere though. So much going on right now.

Keep at it; You go girl!
Cathy

Well agreed verbally on a REO deal. Technically its deal 3 with the duplex we closed on. Next week should close on assignment. End of this month will be closing for this new deal. This one may be a flip. Only a few weeks to get like 3 more deals; anything's possible. I'm so happy about this progress. I'm beating down the enemies. And its my daughter's prom Sat. Thanks to the DG family, my local REI group especially Greg. This is my year.

Almost the EDGE event is near. I am disappointed that Laura's trip to Ireland was cancelled but I'm so thrilled to be able to meet her and Rina and all the others; I just am so excited.

Some neat things are happening but no money yet! But next week, I should have some great news.

Also in the last 24 hours I have found 3 vacant homes just driving by and 2 are very close to each other with only 1 house between them and I found 1 yesterday and the other today. Actually the one I saw today has a front window broken out so not sure what to do about that. Under the assessor's website it lists the Dept. of Veteran's Affairs as the current owner and I'm having a hard time tracking the phone number; the address is in St. Paul, MN. The other one still lists the names of the owners not a bank or anything yet. The 3rd house was in a different county where I work and again just driving by with the long grass, and you can just tell that it's vacant. This one currently lists Countrywide but not sure if it's been through a sherrif's sale or anything. I will have to stop at the sherrif's office on Mon. Actually this is a small town and I had to actually go into the courthouse to track the address. While I was doing this I met a man working there that is very interested in getting into real estate himself; he has a line of equity or something that he can pay cash but isn't finding the 'good' deals as he put it. I exchanged numbers with him and shared Dean's website. He does the title searches and took the realtor courses but hasn't taken the test yet. He seemed pretty excited so we'll see if I can't add him to my buyer's list.

What else? Prom Sat so I won't have much time in the morning/early afternoon except looking at houses as I'm driving, haha.

OH How can I forget this. I talked with a lender about their financing on income properties; he asked me how I was referred to them. I told him I found a house that they currently own/foreclosure but I do remember someone in our REI group mentioning this bank as a good lender but I didn't call back then or anything. Anyway after our conversation I asked him how I could contact the asset manager and without hesitating he gave me the gentleman's name and number, YES! I ran out of time to call but maybe I will leave a message for him to call me on Mon and I can follow up on Monday as well. Yes! Thanks to Joe and Stacey's tips I can do this. My belief is that I can still complete my 5 deals by May 29th to get the refund. I just wish my mindset was different 1 year ago. But if I can find a few banks/credit unions with some properties they want to unload and quickly and if they will finance back to me at 100% it's possible; Anything's Possible. I'm on a roll and I hope it doesn't end even when I'm on the top with all the others here. I think it's Shane that says, 'See you at the top!' I will Shane.

Take care,
You go girl!
Cathy

Gee, somehow its been a long time since I've caught up your journal, but you are doing amazing things! How exciting! I know what you mean about the mindset to get your deals done for academy money back....I didnt have that in the forefront of my mind either, and missed by one deal. But you know, it doesnt matter now...I've made my money back a few times over. But I sure hope you DO IT!!!! An extra added bonus for sure!!! Cant wait to see you at the EDGE!!!!

Thanks for stopping by Laura. It's so hard to read everyone's journals. I have a hard time keeping up with my own, haha but it does help to motivate and see what others are doing and to keep each other on track. I love Shane's journal; it's so funny. You and Rina are truly the mentors for me and so many others as well as Joe and Stacey, Chip and Andrea, Lea, Elena, and I could go on and on but I better not forget Matt.
Take care,
Blessings,
Cathy

Well today was my daughter's prom; she's only a sophomore but her boyfriend is a junior and both of them will be foreign exchange students next school year so I let her go to prom. She was beautiful; I'll post some photos on facebook if anyone wants to check them out; cathy loose. Also I forgot to take a picture of her by herself; that's a bummer; oh well. Anyway a couple of things; I had to take a boy home who rode with his sister to take pictures; he's in 8th grade. We were talking and I told him about the real estate stuff and he told me he likes to do lawns and such and if I needed any help let him know; that was good. I also I was telling him that I was going to have my daughter pass out my business cards and put a $500 referral bonus if I close on a deal. He liked that, who wouldn't at 14. I was telling him about vacant houses and what I look for. After I dropped him off I did go driving some neighborhoods pretty close to home. Anyway I found 6 new vacant homes, and a 7th one that I already knew about but didn't write down address, and an 8th one I'm not sure about because it's listed with a realtor and I will check to see if REO; but this realtor co. isn't usually an REO agent so we'll see.

I did try to call the number for assest manager but general answering phone so will call back on Mon. Also I do have a dilemma as I used the transactional funding proof of funds for cash offer but now I think I actually want to finance this house and flip it because even though I got it for a good price, I'm not sure I could assign (double close on it and make some money). I agreed to $40,000 and the FMV is 66,800.

Not much else I guess. Take care and keep moving forward, You Can DO IT!
Cathy

Monday: call asset mgr that I missed on Fri, his name is Jeremy.
Also tonight I'm looking up the properties I drove by and if bank owned will call on Mon. too
I have to meet with my realtor on property that I agreed to $40,000 that I mentioned above.
I have some REOs I'd like to look at Tues/Wed so will send email to realtor.
Contact other small banks to find out asset managers. This is my strategy to try to get the 5 deals. But I'm glad to know that not everyone meets the 5 deals.

Also if you haven't looked at his journal; I recommend shane gore's. He has a neat analogy of 2 basketball players and it really struck me as truth. Both players played for the NBA but their road to get there was very different and the one that took a little longer ended up being the most successful out of the 2; very inspiring. I love that.

Love you Cathy. You will get there.
Cathy

Hi everyone and anyone reading this. I don't have alot of time on here tonight, choir concert and my daughter has a solo for the choir she's in, they have 4 different ones. Who cares right? I do. She's the reason I'm pursuing this and for myself and my parents. I work full time in a nursing home and some of the situations are sad especially those that depend on the government. I just have to be able to care for my parents and my family and even friends.

On already. I am excited, I did call the asset manager for this bank and on the property I inquired about is already sale pending. He informed me they try to sell their properties without listing with realtor but they have to close quickly like 2 weeks or less, woohoooo! That's all the time I need to get 3 more properties; we'll see; anything's possible and yet like Laura said it's okay because she's still made more money beyond the cost of the academy and I know that will be true of me as well. And then Shane's analoly of the 2 basketball players; some it takes a little longer but still can have big, huge results and that's what it's about, results and freedom. Well I got sidetracked, what's new about that? hahaha. Ok back to the asset manager, they have more properties but I was driving so I was good and pulled over to write down his email so I can get more info and use Joe's follow up email as well. Also I got a return call from a bank that has a really good program on non-owner occupied properties 90% loan to value using the after repair value (arv) so there's still some banks out there that you can do with no money but I do have to follow up with her and she's working later tonight so I will call as soon as I get off of here. Also I didn't get the other bank called because they have a really good program too and he's with the same bank as the asset manager.

I did sign the contract today on the REO for $40,000 but I forgot one thing to think about when I was doing my numbers and that was flood insurance, whoopsi. This property is along the Mississippi River and there is a huge flood wall but still. However on the MLS it just states possible for the flood insurance area. My realtor said I should call the city zoning dept to inquire further. But like the realtor said to sell this house most people will buy it because of where it's located; it's beautiful to see the river from the bedrooms and you can walk out the front door and walk right up the small hill to the bike path along the river. Did I sell anyone on it yet? haha. I can say this the basement was cement but nice and no water mark that the realtor or I noticed; I'll look at my pictures again to see if I see anything differently. Let's see I think that's about it for now. My daughter is going on a school trip Wed to Chicago so I am going to try to look at some properties then and also see if I can schedule house inspection on the $40000 contract which they (bank) did accept as a contingency even though it's an as is listing. I really love this stuff and it's building my confidence that this is possible and I am worth it. I am thrilled right now and ecstatic about the Edge in l0 days. I can't get a hold of Scott so tomorrow I will post that I have an available spot as far as the event and will have to call Dean's team to see if I can even change names on the list. There was no exchange of money yet so we'll see. I have a lot to do but family is important too.
Love ya,
Cathy
You are DOING IT! ACTION = RESULTS

My daughter didn't really know what to get me but I bought myself a nice business card holder and told her that's the gift she got me. But she did get me a sweet bookmark: it's pink with a little bird on it and this is what it says: 'Don't Worry! Just take one step at a time... The Lord will guide you always. Isaiah 58:11'
That's the perfect gift for me because everyone that's successful that I know anyway says to take babysteps or one step at a time and it's so true. The bird reminds me to fly and an acronym for that is 'Finally Loving Yourself' (thank you flylady). That's kind of why I always post a positive comment to myself because I used to think I was a nobody and not worth it but I am and so is everyone else. You have to know you can do this and make no excuses because then it's easy to quit. Quitting isn't an option for me. We all get sidetracked but you can always jump back into it. For anyone that's new to this REI and website the best thing I can tell you is to just do something everyday, anything. I have been focusing on some visualization things and telling myself I am worth it and it's possible. And it's paying off now and I will reap some financial benefits real soon as well.

Love you girl!
Go For It!
Cathy

Dont get me wrong I did not read your whole journal yet but what I have read so far is very impressive. I could learn a lot if I take a minute to get my head out of my own journal. lol You are definately rocking and rolling and I am even looking forward even more to you touching down and taking your bite out of this Big Apple that I call home. Trust me from now on I will be keeping up with your actions because you are definately a serious REI and like I said before I could learn a lot from you. I do not know you like that but from my brief introduction you seem to have a beautiful soul and a great heart and the ambition to knock down anything that gets in the way of your REI success. I wish you all the best and I will see you at the TOP!

Best Regards,
Shane

Thank you so much for your kind words and taking the time to stop by. I really appreciate it. I wouldn't worry about going back and reading my old posts too much some are depressing but that's okay. People need to see we have good and not so good days ant that it's okay. I just recently really told myself I have to get moving and now really the beginning of the year, Jan, is when I just had a mind change I guess; it was so subtle and I really can't pinpoint when it occurred. I really have 2 deals locked up almost on the 2nd. But the first one is great because it made me realize I'm in the game and when you offer the same price as a seasoned investor like Matt then you know you're on the right track. I know it's okay to make mistakes and I will I suppose but hopefully won't pinch me too much financially, lol. I really love your journal Shane and it's hard to keep up with other's journals but I do know that it's important too. I as well kind of was just posting on mine but that was keeping me accountable to myself. I have many bookmarked and try to read often but don't always post like I should. I am so looking forward to NYC and my daughter of course would love to stay at the Waldorf, haha. I still haven't booked a room yet but not too worried about it either. We do need to take some time and book our broadway shows we want to see though. Well take care all.
FLY
Finally Loving Yourself --- YES!
Cathy

I have been slacking with the postings, but busy with real estate. Will update later this evening.

I wanted to mention that if you wish to share the cost of the EDGE, you can ask Dean's Team if you can go in with me since I am coming solo. I am not sure what your plan was with Scott, but if you need to go as a partner then I am ready and willing to take you on girl. I am already sharing a room with Ronnie B, but would gladly accept you as my partner.

Just let me know. Either PM me or send an email to kmg1265@****. That way I can get it on my fancy dancy new iPhone that I am still trying to figure out!

Kristin

EDGE 2010, Here We Come!!!

Well just got word that the closing on assignment deal is this Thurs. Wooohoooo! First deal, yeah! I just got done talking to a mortgage lender at the bank that I contacted the asset manager and he was very pleasant. He did have to pull my credit of course; that's painful sometimes but not quite as bad as Greg Murphy's in the crapper, lol but not too far from the crapper that's for sure. Scores were like 696, 698, and like 700 so not too far off from each other. The score isn't the bad part which I knew, it's the debt to income ratio. Well I did share that I have a closing this week with the lender and I think he was surprised but at least he knows I am serious about investing and we had a good conversation from my perspective and I hope he thinks the same. Also he said if there's a property he thinks I would qualify for little or no money down that they could finance for me he would contact me; how good is that or should I say great.

Also I found an old post of Matt's about the Edge; it made me so so excited I cannot wait. I have to get going and look at some listings to see if I can have the realtor and I look at them tomorrow. I do have a choir banquet with my daughter tonight; busy towards the end of the school year. But I will keep at this, that's for sure.
Cathy
Love ya girlfriend! You are so worth it!

YES! YES! YES!
My first assignment deal is closed. However I have to wait a few hours to get check later today. There's a law in IL about you have to use cashier's check if above a certain amount and end buyer forgot the amount and wasn't sure himself. Oh well. I get to pick it up today before 5 pm. $1500 here I come. And a big thank you to Matt and his team. It was wonderful. It's great to get that first one under your belt and to know it's possible and that I actually did it. Thank you to all of Dean's staff and Greg (local REI mentor).

For those that don't know about it here's the deal. I had looked at a house and come to find out it was on the market like 159 days. The price dropped $5000 when I was out of town for different REI event. Looked at property and offerred $35000 and did get counter but the seller finally settled for $38,000. Then I sent email to a couple of buyers and through mult email/text Matt called me and here he'd offered the same price, $38000 but didn't get it at that time. Matt's realtor tracks his offers and that's how he knew it was same property; anyway he agreed to $1500 assignment fee. I hope it's okay to share Matt's name in the deal.

Anyway I am very excited and have another deal in the works with closing scheduled on May 26 so we'll see.

Love Ya Girl! You Did It!
Cathy L