About to leave for Houston


I’m leaving in about 2 hours for the airport to fly to Houston and I’m really happy and excited.  Like I mentioned in an earlier post, I haven’t seen my family in 3 years so it’s going to be great to spend some time with them.  Also, I have not taken any sort of vacation or even a weekend trip in the past 3 years either so it’s nice to get the fuck out of dodge.  I don’t particularly enjoy flying so I make it a point to get to the airport early so I can hit up the bar and get a nice buzz going.

“Want to make it a double for $2 extra?”

Yes please! 🙂

In terms of work things are going well but it’s more difficult than anticipated (big surprise right?).  One of our offers was countered on but the counter was so “out there” that we knew we couldn’t purchase the property so we pulled the plug.  We are still waiting on the response from the other offer we made and its taking them longer to get back to us, so hopefully that’s a good sign.

Finding the right property really is not easy and I know it’s something that takes time and experience to get good at.  We have a mentor helping us who has done over 700 of these types of transactions and he answers any questions we have which is good.  He is also going to have a conference call on Tuesday so I’m looking forward to talking to him and asking some more questions and bouncing some ideas off of him.

When I’m in Houston I don’t know how much work I’ll be able to get done but I still do plan on working when I can.  The first step is getting an offer accepted by the bank, and then the next step is finding a buyer.  Right now we are still learning the first step by making offers and seeing how the bank responds.  The good news is that it doesn’t cost anything to make an offer so we can make as many as we need to.  The bad news is that we are working with a realtor and we don’t want him to get frustrated or annoyed with us making low offers all of the time.  When I get my real estate license this will be a non issue because I will be able to submit my offers directly, however until that point we’ll have to go through him.

Regardless, if he gives us attitude there are 1,000 other starving realtors that would be more than happy to help us out so it isn’t a big problem.

On a somewhat different topic, last night it hit me like a ton of bricks that I need to go see this investor in San Jose, California.  Initially when we were still in talks with the previous investor from Colorado I suggested that I fly out there to see him if he’s serious.  We eventually found out he was full of shit since day one, but he was the wrong guy all along.  The investor in California, in my opinion, is worth sitting down and talking with face to face.  He’s a 100% disabled vet and is starting a nonprofit organization and getting grants from the government.  He also has tons of vet buddies that all collect disability and I believe he is planning on creating a fund by pooling everyone’s money together and investing it in real estate.  The fact that he called me out of the blue last month after we completely wrote him off makes me think he is for real.

He went out of his way to say; “I am serious, I’m getting everything taken care of and I plan on investing through you guys.  I just wanted to call to let you know that.”  The issue is who knows how long it will take him to get everything situated but I think there is potential there for a joint venture; or a financier, I’m not entirely sure.

Whether we can use his funds to help us with our current wholesaling business or just hand him off to the turn-key investment program, he is definitely worth sitting down and chatting with.  I’m confident in that if I’m able to meet him, afterwards he’ll be 100% committed to us and will be gung-ho about anything I suggest in terms of real estate investing.  I’m not being cocky I’m just being honest.

In a situation like that, I’m extremely confident.

Anyways, I’m leaving in a couple of hours so I’m going to look at some more properties and hopefully find some more potential deals before I go to the airport.  I most likely won’t be posting on my blog while I’m away so I hope you all have fantastic weekends.

Cheers!

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