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vballdarin

I'm offically making myself accountable to the Naked forum!

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For those who have taken the time to visit this topic, thank you.

 

I'm making myself accountable to all of you looking at this topic. I've grown tired of working 5-6nights a week at a restaurant and caddying 3-4days a week at a golf course.

 

I'm taking ACTION!

 

By Monday May 12, I WILL have had a Birthday, competed in a open division Beach Volleyball tourney, and I pledege to make 5 offers to motivated sellers. I'm sorry if this seems like a childish way to accomplish my goal but I need to be held accountable by someone. I don't have too many supportive people around me right now. <---I'm afflicted by Anaylsis Paraylsis.

 

Any positive words of encouragement or words of wisdom would be greatly appreciated.

 

Thanks,

Darin

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Darin, there's nothing childish about making yourself accountable. I think it takes guts to do so. But now that you have done so, it's time to face your fears. I suspect that, like most, you know more than you realize and just need a little guidance, a push, and that first taste of mixing it up with a homeowner or two to realize you can do this. That first taste of success, that first deal, is often a life changing experience.

Your timing couldn't be better to get started. There are miserable, desperate homeowners hiding under every rock. Start talking to a few of them and you will be pleasantly surprised at how receptive they've become these days.

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Go Darin Go!

 

You can count on this board to kick your butt too if you need it.

 

You're accountable buddy. Now make it happen! :unsure:

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1 week left!! Any offers yet?? A wise man once told me that if you're not marketing at least 2 hours a day then you're not serious about becoming an investor. :unsure:

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Go Darin Go!

 

You can count on this board to kick your butt too if you need it.

 

You're accountable buddy. Now make it happen! :unsure:

 

Darin,

 

No one on this board will have to kick your butt, because after you pull the trigger, you'll be too busy kicking your own for not starting sooner.

 

My advice would be: Crushing your fear is only possible by facing it, and obviously you have a fear of getting started. You will look back at your first purchase as the best one, no matter what happens, because it was that one that got you over the fear of buying more. So my advice would be, for your first purchase, buy two homes at once.

 

Sounds nuts, but the fear of buying one has you paralyzed, how much more can buying two scare you. Same amount of fear to face, so go big, brother. I can promise you, you won't be sorry! Come out swinging!!

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Just a quick update from your friendly neighborhood NewbieInvestor/Realtor living on the "Planet of the Apes"....

 

House #1: Called on a FRBO....emailed back and forth till I found out it was listed on MLS at $489,900 in an area which is difficult to sell or rent a house. (upside down) Told her I would prefer not to deal with MLS listed homes.

 

House #2: Slightly higher priced newer home($350,000-400,000); owner would rather me talk to his dad who's email states that "I have a great deal of experience in this field and so will understand exactly what it is you are proposing". Once again...rents ($1700max)are not in line with mortgage payments($2250).

 

House #3: Newer home-owner moving;Appx mkt value is $330,000 3100sq ft; wants $1750 rent......i'm getting more info on asking price, mortgage payments, & what length of term he is comfortable with/works for me.

 

House #4: Owner has bridge loan which has been extended one year already and comes due next April. Asking $259,900;appraised in April 2007 at $282,000. Built in 2001 ~ 3/3 ~ 1850sq ft ~ $1300 monthly mortgage payment & $1000/year POA fees; renters with no intentions to buy in place ($1200) on month to month basis.

 

**I think home #4 would make a great Purchase then Lease Option but my investor friend who talks a big game, keeps waffling and avoiding whether he wants to do a deal.

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Darin, happy to read your update.

House #2: Slightly higher priced newer home($350,000-400,000); owner would rather me talk to his dad who's email states that "I have a great deal of experience in this field and so will understand exactly what it is you are proposing". Once again...rents ($1700max)are not in line with mortgage payments($2250).
Translation, dad is a difficult pain-in-the-ass who thinks he is smarter than he really is. My advice: move on.

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Darin, happy to read your update.
House #2: Slightly higher priced newer home($350,000-400,000); owner would rather me talk to his dad who's email states that "I have a great deal of experience in this field and so will understand exactly what it is you are proposing". Once again...rents ($1700max)are not in line with mortgage payments($2250).
Translation, dad is a difficult pain-in-the-ass who thinks he is smarter than he really is. My advice: move on.

 

The father's reply to the question of "what's your motivation from 1-10?"....MY SON IS VERY MOTIVATED FOR THE RIGHT PRICE IN RENT, TIME PERIOD,

AND SECURITY DEPOSITS, FAIR SALES PRICE, REASONABLE TIME TO PURCHASE, AND CREDIT WORTHINESS OF TENANT. IF ALL

THOSE VARIABLES ARE HIGH, THEN JASON'S MOTIVATION IS A 10; IF

THOSE VARIABLES ARE LOW (I.E., LOW RENT, LOW CREDITWORTHINESS

OF TENANTS, LOW SECURITY DEPOSITS ETC., ), THEN HIS MOTIVATOIN IS ZERO.

 

Translation for me.......................

 

Thank you for your time.

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Looks to me like TMW (Too Much Work) This guy thinks he knows everything about investing so I am wondering why he doesn't just do it himself. Hmmm.

 

Doesn't want low creditworthiness in a LO?! Wants HIGH security deposits (for himself) etc. You don't need to be worked over for a deal. People like that are never happy with what they get, even if you give them everything. And in the words of Bill O'Reilly... am I wrong?

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Looks to me like TMW (Too Much Work) This guy thinks he knows everything about investing so I am wondering why he doesn't just do it himself. Hmmm.

 

Doesn't want low creditworthiness in a LO?! Wants HIGH security deposits (for himself) etc. You don't need to be worked over for a deal. People like that are never happy with what they get, even if you give them everything. And in the words of Bill O'Reilly... am I wrong?

Double for me, everything that GetErDun wrote.

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Darin,

 

One of the hardest things I've had to learn is to quickly walk away from deals that just won't work. Sounds like you're on the right track

 

Now, when I recognize that the numbers or motivation won't allow a deal to happen...I am not hesitant to say, "NEXT'! (in the words of our resident curmudgeon, Doug Petronious ;) )

 

Phil

 

p.s. Where are you, Doug?

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. . .p.s. Where are you, Doug?
Every so often our resident curmudgeon disappears for a few weeks. Methinks it has something to do with the rutting season up in Canada. ;)

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How is this for a basic non-binding letter of intent to send to a Realtor? (I don't want to fill out endless contracts and option agreements if they aren't really interested).......

 

Dear Mr. Realtor Person:

 

I would like to see if your clients would be interested in an offer to sell the property located at 123 Street, Anywhereville, SC. The terms and conditions, under which Buyer would enter into a Purchase and Sale Agreement (Contract), are as follows:

 

Name of Buyer or Entity: Darin Ray, and or assigns ***Buyer is licensed agent in the State of South Carolina and buys/sells properties for a profit***

 

Purchase Price: Negotiable based on Terms

 

Terms: Lease with the Option to Purchase

 

Review Period: Buyer shall have fourteen (14) days from the Effective Date of a Written Contract of Sale – Offer And Acceptance to complete its due diligence.

 

Sincerely,

 

Darin

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That'll separate the curious from the serious. Although I suspect your Realtor brethren aren't going to like it.

 

 

 

 

 

 

 

 

PS: Happy Birthday!

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For those who have taken the time to visit this topic, thank you.

 

I'm making myself accountable to all of you looking at this topic. I've grown tired of working 5-6nights a week at a restaurant and caddying 3-4days a week at a golf course.

 

I'm taking ACTION!

 

By Monday May 12, I WILL have had a Birthday, competed in a open division Beach Volleyball tourney, and I pledege to make 5 offers to motivated sellers. I'm sorry if this seems like a childish way to accomplish my goal but I need to be held accountable by someone. I don't have too many supportive people around me right now. <---I'm afflicted by Anaylsis Paraylsis.

 

Any positive words of encouragement or words of wisdom would be greatly appreciated.

 

Thanks,

Darin

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