So Sorry I haven’t written for a while…

June 21st, 2007

This crazy foreclosure market is keeping me a little busy…did you know that one out of every 40 homes in Florida will be in foreclosure this year? Andy we aren’t the highest state! I’m finding more and more Realtors don’t know how to handle these properties, so I have spent the last few months doing training classes just for Realtors so they can help their clients out of this situation…from this training, I have gained a new insight on the market and I have been able to track the trends, opportunities, and challenges we are facing for the next 3-5 years.

Tim and I are working on some things that may just change the way you look at real estate…stay tuned!

Is 1 Little Word Costing You $900?

April 13th, 2007

This is a quick lesson on communication, negotiating, and getting exactly what you ask for.

Tim has been fielding the phone calls on our properties that are for sale, and I noticed that on the house that we were asking $219,900 for, when people asked him how much, he was saying “Two Nineteen” instead of “Two Nineteen Nine”. When I mentioned it, he said “same thing”

Guess what…we found a buyer, who is paying us “full price” of $219,000 because that’s what Tim told her. You can’t exactly go back now and say “oops, it’s really 900 more”.

Lesson: Don’t be too lazy to say the extra word “nine”, if you don’t ask for it, you will never get it…you now can make an extra $900 per deal just by asking.

YEAH!!! Pensacola Update…we fired our contractor!

April 13th, 2007

OK you guys…you’re not going to believe this…after over 3 months, we finally found our contractor to fire him! He wasn’t returning calls, some of his numbers we had were disconnected, we called at numbers he had given us and people lied and told us they didn’t know who he was…the challenge was, until we officially “fired” him and had him sign off on a lien waiver, if we did any other work to the house we could have ended up having to pay him too if he claimed that HE had done the work and never been paid. So the house has just been sitting there for 3 months untouched.

At one point, he had pointed out to Tim the house he was moving to, so Tim knew how to get there, but didn’t know the address. This morning Tim showed up at his door at 8am with a lien waiver in hand (remember this is 6 hours away from where we live) and HE WAS HOME!

We have the lien waiver in hand, and Tim is meeting with a replacement contractor this afternoon to get the work finished (I won’t mention that this is the same one that was ORIGINALLY supposed to do the work when we first bought the property, strung us along for 60 days, then said “oh, I’m too busy to do the job right now” which led us to find the 2nd guy that was so awful!), I guess I also shouldn’t mention that the one that is supposedly going to finish the job now is Tim’s Uncle!!! But I am going to mention it to you because the lesson is: Don’t Hire Family!

We also are listing the property today with a flat-fee broker to get it back in MLS and work on getting it sold, although our “no banks needed” sign is still getting a ton of calls, just the property was too rough for the people that were looking at it.

We’ll keep you updated!

“Foreclosure” is the word of the week…

March 16th, 2007

WOW! The foreclosure market is hitting the fan! Alot of my friends that are in the mortgage and real estate business have seen this coming…and it’s here!

I know some people have been down on our investing market the last year or so, but I think that time is over. It will be VERY easy to buy houses under value this year, the only thing to be watchful of is that you will be able to sell it, since there will be a huge supply of available houses in many markets.

I think that now is the time for ALL investors of every experience level to get VERY educated in their state’s foreclosure process and become an expert at what they do. You will also probably want to get educated in the Short-Sale process, because that is absolutely going to be the tool to get great deals. Get involved in your local REIA group (go to www.nationalreia.com to find a group in your area) and start networking with other investors…it has been one of my secrets to success.

To get statistics on foreclosures in your market, you can either visit www.realtytrac.com or your local board of Realtors website (try www.NAR.org).

Selling with Owner Financing

March 12th, 2007

We have had great luck lately finding buyers with our sign: “May Owner Finance”. The funny thing is…most of the people calling actually can qualify for a regular loan, so they are ending up cashing us out anyway!

You can’t advertise this way if you have no intention of ever doing it though, that would be misleading, but if someone with 50% down came to you and was willing to pay 10% interest, would you do it?

Update on Houses: Dogs vs. Real Estate

January 25th, 2007

Well, November and December were very slow for us, we had very few calls on our houses for sale, and even fewer showings…(could have been because we were traveling so much!)

But on January 1st, someone flipped the buyer switch and we have been getting TONS of calls. We got our Pine Hills house under contract and the appraisal is today, so that will probably close next week. The call volume on that house has been CRAZY!

Musing Thought: 4 rott/pitt bull mix dogs next door chained to trees/bark alot when anybody walks on side or back of house/scares buyers away…put up privacy fence on that side for $900 and get an offer the same week…coincidence? Or fence?

No, seriously…we have had challenges selling houses in the past with dogs next door, so when you are analyzing properties, keep that in mind. A new investor recently showed me a house she was wholesaling, and it was in an OK neighborhood, except to get to this particular house, you had to drive down a little dirt path between 2 houses, then at the end you took a sharp right, go past the house with the pitt bull chained up and the 2 cars without tires up on jacks then you get to the house for sale. She couldn’t understand why I wasn’t real excited about the house…can you figure it out?

Anyways…no contracts on the others yet, but getting activity. I non-renewed one of my tenants and am in the middle of rehabbing it for sale, and then another one of my tenants disappeared on us, so we are rehabbing that one to re-rent it…so we are keeping pretty busy right now.

I’ll keep you posted on progress!

Free Conference Calls on Goal Setting: “The Year Ahead”

January 25th, 2007

I’ve been a little slack with my posts, and I promise that we will pick back up now.

I have been very busy working on getting my At-Home Bootcamp for new investors finished, and am pleased to announce that it is all at the duplicators and will be in my hands next week!

I have also launched a 5-week training series on goal setting called “The Year Ahead” with my good friend, Jase Souder. We have 2 calls finished already and we have been getting AWESOME feedback! If you would like to hear the replays, go to www.DoYourFirstDeal.com/TheYearAhead.htm for the replays and the handouts. When you are ready to get on the rest of the live Wednesday calls, email stacy@doyourfirstdeal.com and say “Yes, I want the call in info!”

Updates from Paris, France

November 23rd, 2006

I love our business!  Tim and I can be traveling through Europe and checks STILL go into my bank account!  My lease option closed and so did Apopka (both were a few days late, but I won’t fuss too much) and the checks are in!

Tomorrow we are touring the Champagne valley of France…I hope to get some good photos of some fixer-uppers to post!

Hope you all have a wonderful Thanksgiving, and I hope you are gearing up to not only end 2006 with a bang, but also have the best year investing EVER in 2007!!!

Update on Real Estate Stuff

November 7th, 2006

Hey all!  Is anyone else tired of hearing about all the doom and gloom in the media about the real estate market?  Some areas are having a challenge, but that’s the time when REAL investors make great money.  This is the market we’ve been waiting for!

Updates on houses:

My lease-option tenant is supposed to be closing next week.  That will be a nice check!  Especially since I called the person that holds the private 2nd on it and asked “do you want to be paid off?  or would you like to move it to another property and keep collecting payments?”  their answer was keep collecting payments, so this gives me more working capital for the next one!

My house in Apopka is also supposed to be closing next week, and everyone (realtor and mortgage broker) are assuring me that everything is going smoothly, although I have my doubts, cross your fingers for me!  (I only bought that one in July, so we’re right at 4 months)

Our contractor in Pensacola seems to have fallen off the face of the Earth and hasn’t returned any calls in a week!  We may have an itsy-bitsy challenge there!  He was supposed to have been done last Monday and wasn’t…I’ll keep you posted.

They’re laying sod at my Valencia house tomorrow…it’s going to look sweet!

Bye for now!

We’re Getting Ready To Step Up Our Marketing Again…

October 18th, 2006

We have been so busy the last few months that our marketing for deals has kind of fallen flat on its face. I know that right now is an AWESOME time to do deals, maybe the best market for investors that we’ve seen in decades, so it’s time to pick back up. We will keep you posted on what’s working and what’s not…stay tuned!