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Goals and Planning Must Read Posts Real Estate Investing

My Give Up List to Hit My Life Plan

Ok so when we plan out our plan for our life there’s probably going to be some things that you have to give up in order to accomplish your life plan, right? Well in Larry Winget’s book People Are Idiots and I Can Prove It!: The 10 Ways You Are Sabotaging Yourself and How You Can Overcome Them he talks about making up your list of things that you’re willing to give up in order to reach your life plans.

Here’s mine that I’m going to share with you. Remember, I encourage you to write your own give up list at home. You can share some of the things you’re going to give up here or keep them to yourself, but the important thing is that you do it and actually write it down. I’m actually going to type both of my lists up neat and print it out and frame it and hang it in my bathroom (we’re going to get a printer tonight when Kathy get’s home from Joe’s soccer game.)


Financial-

  • -I’m going to give up watching t.v. at night when I could be putting out bandit signs, making offers or making phone calls.
  • -I will give up sleeping in when I should be working by putting out bandit signs, making offers, visiting properties for sale or that sold, and making phone calls.
  • Physical-

  • -I will give up fast food.
  • -I will give up soda.
  • -I will give up white flour.
  • I will give up white sugars.
  • Mental-

  • -I will give up negativity.
  • Social-

  • -I will give up talking as much as I do to people who aren’t as productive as they could be and should be and who always bitch and complain.
  • Career-

  • -I will give up watching t.v. when I should be on appointments or getting on appointments or making offers, putting out bandit signs, etc.
  • -I will give up sleeping in when I should be on appointment or getting on appointments or making offers, putting out bandit signs, etc. etc.
  • -I will give up thinking that I can be successful without actually working hard for it.
  • Spiritual-

  • -I will give up calling myself lazy, so that I will believe in myself and my ability to work always.
  • Family-

  • -I will give up going to bed so late that I’m too tired to play with the kitty’s.
  • -I will give up my time on Sundays to spend time with my mom and Mike (stepdad) and my father and Lisa (stepmom.)
  • Secret Stuff-

  • -I will give up going to bed late and watching tv late (you can have the give up portion, but nothing else from the My Life Plan portion lol
  • Ok so that’s it. That wasn’t so hard, eh? Again, I can’t wait to get a printer and type this up all nice and neat and then I’m going to hang it in my bathroom (Kathy will be thrilled I’m sure 🙂 In case you forgot, here’s my life plan list that I’m giving all of the above up for.

    Share yours or not but please, please DO IT. Go ahead I dare you to think about what are YOU willing to give up to hit your life plan goals?

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    Goals and Planning Must Read Posts Passive Income Real Estate Investing

    My Plan for My Life

    Here’s the first list that I told you I wanted to share with you and I would like to encourage each and everyone of you to do this for yourselves. When I was in Vegas last month I saw a speaker. His name was Larry Winget. Some of you may have heard of him, some may not have. He’s very abrasive, very in your face, very ummm let’s just say he doesn’t sugar coat things but boy does he tell it like it is. Some people may not like it because the truth is, they’ll have to realize that THEY are to blame for their life fuck ups. 🙂 We don’t like to take blame for that crap, do we?

    Anyway, I was very intrigued with him and his speech. When I got home I ordered 2 books by him and the first book I want to talk about is called People Are Idiots and I Can Prove It!: The 10 Ways You Are Sabotaging Yourself and How You Can Overcome Them.

    Well the title says a lot eh? lol And you know in your heart it’s true..the part about people being idiots and the part about how we sabotage ourselves. So this list that I’m doing is a list he asks you to do in this book. You want to write out what your plan is for your life in different aspects. Here goes:

    Financial-

  • -I want to make at least $5,000 per month in passive income from ATM’s.
  • -I want to make at least $10,000 per month in passive income from rental properties.
  • -I’d like a net worth of at least $1 million dollars within 5 years (October 2014.)
  • -I’d like to earn an income of a least $200,000 per year.
  • Physical-

  • -I’d like to weigh between 130 to 140 lbs.
  • -I’d like to exercise 20 to 40 minutes at least every other day.
  • -I’d like to eat healthier. Organic fruits and veggies when necessary (ya know when you eat the skin,) read food labels more (which I’m actually pretty good at now…having heartburn/gerd/acid reflux will do that to ya,) pay attention to portion control, eat bigger breakfast, medium sized lunch and small dinner.
  • Mental-

  • -Try to be positive over negative as much as humanly possible.
  • -Try not to gossip or get caught up in petty bullshit.
  • -Maybe take up yoga, photography or both or something of that nature.
  • Social-

  • -I will try to include more people in my network of friends that are like minded and are making at least $200k or more and have some money ideas and attitudes that I have.
  • Career-

  • -I want my career to consist of making money off of several passive income streams.
  • -Plus, I’d like to own perhaps an ice cream truck business and other possible businesses in the future, that of course, others will run for me.
  • Spiritual-

  • -Taking up yoga or photography. And being mentally aware.
  • -I will ALWAYS believe in myself.
  • Family-

  • -Help Brandon and Joe learn about the in’s and out’s of money and investing more.
  • -Visit my mom and Mike (stepdad) and my father and Lisa (stepmom) at least once per month.
  • -Play with my kitty cats more, especially to tire their behinds out at night time! lol
  • Other Secret Stuff-

  • -I have something in this section and I like you all that visit my blog a lot but not enough to share this last section with ya 😉
  • Ok so that’s the “My Plan for My Life” list. I’m sure you have heard this before or even done this before and labeled it as goals…and that’s really what they are. But ya know, something about the title of this list just resonates more with me then goals.

    Feel free to share any or all of your plans for your life here, but definitely please take the time to do it at home for yourself. Check out this post to find out what I’m willing to give up in order to get the things on my life plan list.

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    Finding REO Deals Makin' Offers Real Estate Agents Real Estate Investing Wholesaling

    8 offers made!

    I just made offers on 8 properties…..6 reo’s and 2 non-reo’s. They were all from the MLS.

    I decided that I’d send LOI offers to each agents email and explain that I’m having a printer difficulty lol and also that when I’m ready to write an official agreement of sale that I don’t mind if they write it up so they get both sides of the commission. Actually, I said that with every offer except the one my broker referred me too. That one, I’ll write up myself so the broker gets a piece of the action.

    Along with the letter of intent, I include the proof of funds that my uncle sent me. 🙂 They were all cash offers with all inspections waived and a 5 day closing and $500 earnest money deposit.

    I already had one agent email me back super quick. She was so nice. Said the bank just turned down a higher cash offer but she’ll still submit mine. She even emailed me the confirmation and she said that she put my name as the agent as she didn’t want to have her name on the offer lmao I guess that’s how you know I offered low enough huh? Personally, I don’t get agents….they willingly give up money that is just being handed to them in the form of both sides of the deal!!! Oh well.

    Ok so I’m a little nervous……as I haven’t really made a great deal of offers in a while….but I know me, now’s not as bad as if one gets accepted because then I go into “omg I’m gonna shit myself” mode.

    I’m exhausted…off to bed and tomorrow we’re buying a damn printer/scanner/fax cuz this shit is for the birds.

    Goodnite Blogland….

    Flippin’ Carey

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    Closing Your Deals How To's Must Read Posts Real Estate Investing

    How to Sell Your House Quickly – Part 4

    Yes! You have found a buyer who wants to write up an agreement on your house. Let’s see what you do now.

    When You Find A Qualified Buyer
    After you find a qualified buyer you want to write up an agreement of sale. I’m going to assume that you don’t know anything about an agreement of sale or about how to fill one out. With that in mind, my advice is to then NOT DO IT.

      You should have a competent real estate attorney that you use to help you draw up an agreement of sale and that helps you with all of the rules and laws associated with selling your house (like fair housing laws, seller disclosure forms, etc.) The real estate attorney can even do the closing for you and your buyer (they will take care of EVERYTHING associated with getting your transaction done and getting you your check in your hand.)
      To find a competent real estate attorney in your area you should ask other investors who they use. Also, it doesn’t hurt to call local real estate agents to see who they may recommend.
      If you know how to fill out an agreement of sale then you should have a title company that you want to work with to get your transaction to the closing table and get your check in your hand. They can help you with any questions that you may have, but they may not be permitted to give you legal advice in regards to rules and laws regarding selling your house, but ask, because a lot of them have real estate lawyers within their company that will be happy to help.
      If you don’t have a title company that you use yet or that you feel comfortable with then you can find one by asking other local investors who they use. You can also join a local real estate investing group and ask the folks there who they use, a lot of times there will be title companies and real estate attorneys there trying to market their services. But if all else fails, you might want to find the local REO agent in your area and find out if they know of any investor friendly title companies.

    Now take your big check to the bank baby and you can now say “I can save tons of money on commissions because I can sell my house myself!”

    I hope you’ve learned something from this 4 part series. If you have any questions, please feel free to post them here.

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    How To's Must Read Posts Real Estate Investing

    How to Sell Your House Quickly – Part 3

    When you implement the marketing strategies from part 2 of this How to Sell Your House Quickly series your phone should be ringing off the hook. Now it’s time to just handle the calls.

    When You Get The Calls Coming In
    A lot of folks are just gonna wanna know the price at first if you don’t have it listed already. Then they may want to set up an appointment to check the house out. If you’re not careful you could be wasting A LOT of time. Here’s what I do:

      First I tell interested folks to do a drive-by of the house. If they like it after driving by I tell them to call me back to set up an appointment.
      If they call me back to set up an appointment I ask them if they are pre-approved for a mortgage. If they say yes, I inform them that they must send me their pre-approval letter before I will set up an appointment to show them the inside of the home (be nice about this, not rude.)

      If they say no, then I tell them that they must be pre-approved before I will set up an appointment to show the inside of the home. I generally will refer them to a mortgage person or a small, local bank that I use. (You should do the same. Hook yourself up with a small, local bank in your area that will get people pre-approved to buy your house. You can do this with a mortgage person too, if you have one in mind.)

      Now if you’re wholesaling and looking for cash sales then you can ask them if they are cash buyers. If they say yes, ask them if they have proof of funds? If they are a real deal cash buyer they will have no problems answering your question about proof of funds and they will have no issues faxing you such proof. If they are a newbie or someone with no money they will give you attitude when you ask for proof of funds. Trust me on this..don’t waste your time with folks who don’t have the funds to close your deal.

      If they pass all of the above then you will set up an appointment. PLEASE BE CAUTIOUS. These are strangers that you are letting into your home. Always have more than one adult home when having showings and it’s a good idea to have a sign-in sheet for folks to sign and you should make them even show their driver’s license or some form of i.d. I know that you may feel uneasy asking this stuff, but it’s for your own protection.

      Word of Caution: If you ever, ever feel uneasy about someone that you are talking to on the phone, do not, under any circumstances let them into your home, especially when you are alone. Women..use that women’s intuition that you have. Fellas, use that gut feeling that you can get.
      (This is probably the scariest part about selling your house yourself, in my opinion.)

      If folks are interested in your house then write up an agreement with them! (we’ll get into that in a few.)
      If they aren’t interested, ask them if they could give you some feedback so that you can improve your chances of selling your home. Tell them to be honest as you won’t be upset or take anything personally (and hold true to that!)

    Ok so moving right along…now you have a buyer. What do you do now? We’ll go over that in the final part of the series How to Sell Your House Quickly.

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    Landlording Rants Real Estate Investing

    Another landlording lesson learned

    So I put a tenant in a while back and after 4 months had to evict them……well I happened to get one of their fathers who lived in Michigan to co-sign.

    Anyway, I evicted the tenants with no problems and no court process. Just told them I wanted them gone by Sunday and they were 🙂 Go figure. So they stained up my 4 month old carpet (but I got all stains out with my Rainbow and Aquamate) and left a messy place, but had a friend, plus myself and Kathy clean it up.

    I proceeded to file against the father because when I went to my local district court the judge assured me that I could and that the father was responsible for 100% of everything, whether I wanted to go after the tenants or not. So I filed and after the court date I got a default judgment.

    Now I call Michigan to find out how to file my judgment. I had to fill out a foreign judgment and I did that. So after a few days of filing that, I get a letter stating that the father filed a motion to get rid of the foreign judgment. I called the court house in Michigan and they told me that I couldn’t represent myself because only a Michigan attorney could represent a corporation (I’m an S corp for my real estate business.)

    So I contact an attorney and to make a long story even longer after all was said and done the judge threw out my foreign judgment, but he said that my attorney could re-file for me and he’d look at things further and hear my side. I’m pissed but then again I have to remember that my drug-using, deadbeat, non-paying tenants are gone and I have an awesome family in there now that pays early and keeps the place looking phenomenal.

    The good thing about me is I’ve made mistakes my entire 10 yr. investing career, but I NEVER make the same mistake twice. That’s a key bit of advice that I can give…..learn from your damn mistakes at least!

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    Real Estate Investing Real Estate Marketing Wholesaling

    Oopsie…

    Well I was rockin and rollin putting my signs out this evening and I found the perfect spot to slap one of my signs on and BAM…..I ran out of staples 🙂 So I only got 12 signs out tonite……dummy….I should have more staples in my care…..next time I’ll know better.

    As much as I can’t stand putting up bandit signs I must say that it is good to be back! I’ve missed real estate…….I’m ready to make some cash now. Initially I wanted to get my first deal by the end of this month and that still would be awesome and I’m still gonna work hard til the end of this month but I really would feel comfortable if I could get a deal by the end of next month.

    Well I’m off to re-fill my stapler and then off to bed. Oh do you guys know about that sign stapler? Brandon and Joe (Kathy’s 17 yr. old and 9 yr. old) bought it for me for either xmas one year or my birthday…and omg I love it. That’s how I’m hanging up my signs until I get more (remember, I only have horizontal fluting type signs left, so no wire stakes for me.) Just banging ’em up on poles with the sign stapler. If ya are still using wooden stakes or using ladders or what have you to put up your signs….well this lil sign stapler will safe you much time and many headaches. I think it’s only like $99 or you could go to Lowe’s or Home Depot and put your own together for way cheaper. But it’s a must have for folks putting out bandit signs, in my opinion.

    Okey dokey pokeys I’m out like trout. Nitey nite.

    Flippin’ Carey

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    Debt Real Estate Investing Wholesaling

    Debt- the good, the bad, the ugly.

    I’m not a fan of debt. I know you’re probably thinking well who is Carey? The truth is most of the people in the U.S. are….if you want to get technical about it, right? I mean most of us (and them) are in debt, right? So they are fans of debt.

    I am not a fan of debt even a lil bit but I’m seriously pissed off at myself BIG TIME and I’ll tell ya why. If you hit the rewind button on my life you can be taken back to a day when I had bad credit and a shitload of debt. Financially, let’s just say times were sucky and stressful. Ever been there? 😉 Now if you fast forward a lil bit passed this time frame I got my proverbial shit together and I was 100% debt-free (except for the mortgage on the house I lived in) and I had a 740 credit score. I was super proud of myself because I worked hard to get out of debt and to build my credit. Problem arose when I was an idiot about my money at the time…here I am, completely debt-free except for a $535 mo. mortgage payment and I was making at least $50k a year but ummmm I had nothing to show for that? Instead of being smart with the money I made I was an idiot and nowwww fast forward to my life now.

    I met a wonderful, beautiful, smart woman in Kathy and after 2 yrs. of dating we decide to purchase a house together. It was a bank REO which needed a complete makeover and although we got into our $240k-$250k home with $0 money down well neither one of us had the money that was needed to fix up the entire house (plus moving costs, etc.) Sooooo here comes the friggin debt again for me because I was a dumbass with my money the entire time I was debt-free. Grrrrrr!

    Nowwww…..wanna know how much debt I’m in? $34k!!!! Mhm…..yep….and I can’t even tell you want most of it is for, actually I can’t tell you what a lot of it is from but not all of it. I mean included in that $34k is a few atm’s and even tho I’m including them in the overall figure they are actually paying themselves off, if that makes any sense. $34k of fixing up a house, vet bills, trips, etc.

    And ya wanna know something? I got no one to blame but MYSELF. Yep, I take full responsibility I was an idiot, I’ve been an idiot and I am still an idiot….but it’s time to put on my Smart Girl hat and quit with the idiot bullshit because I know better.

    My goal is to get out of that debt by this time next year. So in order to do that I’m going to have to pay $947/mo on my credit card and then $1886/mo on 2 lines of credit (one business loc that still has real estate shit on it and one home loc that has the biggest chunk of the 34k on it.) I say $947/mo on my credit card because I just got a 0% balance transfer rate on a card until 4/2010. So I want to pay it off by then.

    Once that comes then I can add that $947/mo credit card payment to the lines of credit payments. This seems like a daunting task on the surface but if you sit down and think about it logically well that’s just 1 wholesale deal a month!! Right? I just have to work my ass off to ensure that I get one deal a month. Btw, these numbers don’t include my normal living expenses in regards to my home, insurance, food, etc. That’s all extra!

    I think I can do it…and I’m going to take action to ensure that I do it…and even if it takes me 1 1/2 yrs. instead of 1, I’ll still be tickled pink. DEBT is my driving motivation right now…..I want out.

    Kathy doesn’t understand this burning desire of mine because she’s never been out of debt her entire adult life…..I told her that once she gets there, she’ll never want to go back. It’s a beautiful thing that I miss. Plus, I like to think that I’m a hell of a lot smarter and wiser now, so once I’m out of debt my money will definitely be used in ways that will ensure I don’t ever have to go back there.

    I don’t know if you guys (and gals) ever read Secrets of the Millionaire Mind by T. Harv Eker but I do the jar system that he talks about (although I use different bank accounts instead of actual jars. We have actual jars tho for Kathy’s 9 yr. old son and 17 yr. old son tho.)

    I’m feeling good about all of this and I wanted to share my story with everyone so you know that yeah, I’ve done deals and I’ve made money in the past in real estate and used the funds stupidly but now I’m going forward to use the funds for a real purpose now and that I am human and I do FUCK UP! (and it’s ok if you do too, just please, please make sure you learn from it.)

    Oh and for the record the $34k figure does NOT include my personal residence mortgage or rental property mortgage. I’m not too worried about them at this time, just want to get rid of that big $34k figure and then I’ll tackle the home mortgage (the rental one I’ll let the tenant pay off for me.)

    If you guys want to share your motivation for paying off debt or anything like that, please feel free to. I think it’s beneficial to write it down and especially to tell others about it, kinda makes ya more likely to hold yourself accountable, ya know?

    Flippin’ Carey

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    Listed Properties Makin' Offers Passive Income Real Estate Agents Real Estate Investing Real Estate Marketing Vacation Adventures Wholesaling

    Gettin’ ready to head to Vegas baby!

    Ok so I did check out houses the other day and I have the houses set aside that I want to make offers on. Every house that I could actually get INTO I’m going to make an offer on. Some houses I couldn’t get into, one house went under agreement about an hour before I wanted to see it, and 2 houses had tenants living in it and wasn’t an reo yet, so I wasn’t quite that interested in getting into those house, plus they needed notice.

    All in all I was suppose to see 9 houses I believe and only got to see about 4 or 5, but I think they were 4 or 5 decent places and I’ll make offers on them all. Problem is….Kathy and I are getting ready to leave for Vegas for a week on Saturday so we’ve been busy getting ready for that. Soooo, I’m gonna just have to force myself to do it this evening I guess….but it may be REALLLLY late cuz we’re heading to an ATM that we own that is in a Gentlemen’s Club (if you can ever get your atm inside a gentlemen’s club my advice is to JUMP ON IT! Our surcharge for that atm is $7 🙂 So we’re heading there tonite to actually take cash out of that atm and put it into an ATM that we have at a cash only chinese place for when we go on vacation. The chinese place goes through roughly 2k a week……so we gotta stock it with cash since we won’t be here to fill it.

    Anywho, I also just accepted a BPO offer…why? I have no friggin’ idea…..I should have just took the address and started marketing to the lady in case she’s goin’ into foreclosure. But I’ll do the bpo….maybe it’s one of my small ways of getting back into the swing of real estate shit. Ya know?

    Oh and that short sale deal that I was working on for a listing I have….the friggin’ buyers backed out again! This is why the real estate agent gig I feel is a sucky full-time thang. Buyers are soooo damn annoying! They don’t want to not receive their $8k tax credit from the government. Oh wait….here’s the funny part, they wanted an answer from the bank whether they were going to accept the short sale or not in 8 days! But when you counted only business days….it gave the bank 6 days to respond lol

    Needless to say, they back out of the deal when I told them it would take roughly 37 days from beginning to end for the banks answer (Wells Fargo sent me a time table for their short sales.) So annoying….

    Ok I’m off to shower as I’m stinkin’ and sweaty from workin’ out…….off to make something happen! I have put 0 bandit signs out, which I need to do because they are by far my biggest money maker…..no questions about it.

    Flippin’ Carey

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    Finding cash buyers Finding REO Deals Real Estate Investing Wholesaling

    Gonna go check out some houses today….

    So I have a list of reo’s to check out today that I got off of the MLS….9 total. And then I have my list of properties that SOLD to cash buyers (ala Steph.) Seriously tho folks, if you’re interested in being a REO wholesaler you’ve got to check out Steph’s ebook Flip This REO. I’ve been investing for 10 years now and I still get some solid awesome ideas from Steph. Do yourself a favor and get the ebook…heck it’s on 47 bucks! Sure beats some crazy ass $900 course that is filled with fluff and b.s. You have my personal guarantee that any 1 of several tips you take from her ebook will save you or make you that $47 investment back PLUS some. I promise. Ok enough of that about Steph’s ebook…..

    It’s really good to be back in the swing of real estate investing that’s for sure. I think it may Kathy taking some getting use to again tho. She wanted to play 500 rummy with me and I told her that I couldn’t cuz I was out to look at some houses.

    Hopefully, by the time I get back I’ll have the signed agreement from the buyer for my listed short sale deal. They changed their minds back as long as the sellers would go with their ORIGINAL offer. And they did.

    Okey dokey pokey….see ya soon.

    Flippin’ Carey

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