Tuesday, February 17, 2009


This was supposed to be a FH post but I rambled and didn't want to hijack the post so I stuck it in here. ^^^^^^^^^^^^
The only REIA groups near me are 2 hours away. I like the people and like the content so even though they are not in my market area, I will continue to go. There are folks that travel farther than I do for this certain group. We have had some fantastic speakers. (Most recently Ron Starr, Thanks Ron!!) The group that was in my target market area is no longer meeting. They were more of a group that wanted to pool money and form joint ventures in the go zone, nothing local. I couldn't find any connections for my team. I want to start my own club, but haven't done a deal and I think I wouldn't be taken seriously.
I have a super agent who has fallen on some hard times due to investments gone south. I like working with her. Other than having her on my team, I am having to search out the other players by myself. So far the local banks are a no go. Maybe I am talking residential when I should be talking commercial ??? I am not going to talk to title companies 'till I have something to bring them. I am thinking I will be using the bank's title company (focusing on REOs).
I haven't been able to scour the mls for cash buyers yet. I only have access IN the office 2 hours away. So, I've called the craigslist rental ads, the bandit signs and the newspaper ads looking for buyers. I found 2 that seemed good, one won't call me back and one said he has all the leads he needs and doesn't want mine. I think I will call him back when I have something, let him know I am serious. I drove by a rental open house and spoke with the owners who were not interested in more property. I then asked them if they were tired of landlording yet. The attitude said yes but, they said no.
I have offers calculated and ready to submit but I am afraid to pul the trigger without buyers. My friend Ginny found a deal, couldn't assign, had to buy her property and is doing the rehab herself (GO GINNY!!) I can't afford to do that.
My plan is to make 2 offers on REO's using coastal letter and my $2,000 emd's. Once I have a deal under my belt so to speak, then I will try to get private money lenders.
That's where I am at right now.

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