Wow I only made 1 blog post last week… not sure if this week will be any better

A cold front moved in from the west coast and it’s unseasonably chilly outside today.  It’s also very overcast and dreary so I had trouble getting going this morning.

I only made 1 post last week and it isn’t because things are going badly, it’s mainly because I just don’t have anything to write about.  We are moving forward it’s just happening much slower then I would like.

Right now my business partner is having some health issues and is going to have to see an oral surgeon.  This started last week and will most likely make him useless this entire week.  He’s on painkillers and until he gets his shit taken care of he really can’t do anything.  I, on the other hand, have been getting much better at finding real estate deals in our area.  I’m practicing, learning and I’m becoming more confident every day.  The biggest issue with what we are doing is determining an accurate value for a property before you make an offer on it.  When you are talking about a down market, and REO properties, it’s more difficult than you would think.

Anyways, I have to keep pressing forward with or without my business partner because I’m not going to sit on my ass for an entire week just waiting for him to get better.  My goal is to drive by properties later this week and start doing some assessments, and if I find anything that’s a slam dunk, making an offer on it next week.  If I don’t find any slam dunks (I think this is unlikely) then I’ll just use the time to learn and gain more experience until my business partner is 100%.  So I feel good either way.

Yesterday was an awkward day for me.  I woke up just feeling miserable because of my life in general and for whatever reason I was just bummed out.  Here I am at 29 and I’m not in any better of a situation then I was when I first graduated college at 23.  I began wondering if I had just wasted the last 6 years of my life and really began getting depressed.  I’m still broke and can’t seem to get ahead.  On a positive note I was able to see that I’m much wiser now and the 6 years of business experience I’ve gained is invaluable.  I just wish I was in a better spot financially.

I went to the gym and after my workout spoke to one of the guys that works at the counter.  He was on his lunch break and while I was drinking my protein shake we just started bullshitting.  He’s an older guy and extremely nice.  He just works at the gym on the weekends to give him something to do and to get out of the house.  Anyways, I told him how I was feeling and what was going on and he really made me feel much better.  He said that with men, it’s common that they don’t find their “niche” until their 30’s and not to stress about it.  He said he did not get into his real “career” until his early 30’s and his brother didn’t figure things out until 35.  He basically said that from his experience, it’s normal for guys to hop from job to job or just try a bunch of things while they are in their 20’s before they settle on something.

Having heard that really did make me feel better and I’m grateful I was able to have that talk with him.

Once I got home I started doing more property valuations and it was like the “light bulb” went off in my head.  I finally started to “get it” and was finding subject properties we should look at left and right.  This made me feel 1000% better because I saw all the money that was to be made in these spreads and I knew we’d tap into it.  I think part of the reason why I was so bummed earlier in the day was because I still was having trouble figuring out how to identify a good investment property.  I was just overwhelmed because there are so many REO’s on the market but now that isn’t an issue anymore.

So this week is basically going to be a week of learning and practice.  Like I said earlier, when I start visiting some of these properties I’m sure I’ll find a couple that will be pretty good deals and will want to make offers on them.

If we start making offers next week, we’ll be on track to have a pending deal or deal under contract by April 3rd, which is our goal.

I hope you all have great productive weeks and I’ll update as needed.


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