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ATM Business Business Tips Goals and Planning Home Business Multi-Units/Apartment Buildings Passive Income Real Estate Investing Short Sale Investing Wholesaling

Business Mistakes

Business Mistakes

I just wanted to talk in general about business mistakes. For this post, it really
doesn’t matter if you’re in the real estate business, ATM business, online marketing
business, or any other business under the sun.

This post is in general about all business mistakes.

I don’t know what sparked me to write this today, perhaps it’s people that email
me that are interested in starting their own ATM business or interested in investing
in real estate but they are afraid.

Afraid of making business mistakes.

Here’s the deally-o though….you WILL make business mistakes when you get into
business. I get that you want to start a business and not make any mistakes at all…I really do
get that thought process. But I think you’re just putting a little too much pressure on yourself.

Remember back when you first learned to walk? ride a bike? drive a car? had a child? You made
mistakes with all of those things in the beginning, right? (Heck raising a child is probably a
never-ending learning process lol)

But my point is you didn’t start doing anything perfectly. You made mistakes and learned from them.
Well, hopefully you learned from them.

So, just accept that you will make business mistakes when you first get into business, but make sure
you don’t ever make the same mistake twice. I remember when I started my real estate investing business
back in 1999. I made a mistake on every single deal I did for yearssssssss. But guess what? I never
made the same business mistakes twice. I learned from my mistakes.

When I started my ATM business in 2009, guess what? I made business mistakes with that too (and I had
someone “teaching” me the business. lol Unfortunately, he was one of my biggest mistakes!)

I made tons of business mistakes in my online marketing business too. From hiring a worthless coach to
wanting to do everything on my own (and screwing things up and taking longer then necessary to get things
accomplished.)

Business mistakes are normal; they will happen. I’m not telling you to get all excited about them and
say “bring on the business mistakes!” But I’m saying just know that they are a normal part of the bigger
picture with your business, embrace them, learn from them and move on.

Generally, to cut down on business mistakes you make it helps to have some type of course, education,
seminar or coach to guide you through your business. Like my ATM Business Blueprint Success System if
you are interested in the ATM business or my friend Susan Lassiter-Lyons Master Lease Option course if
you are interested in creating income with apartment buildings.

Notice I said cut down…..I didn’t say eliminate. That’s because once you learn what to do from the
programs that you enroll in you may start to go off on your own and do your own thing that may not have
been recommended in your course or maybe it’s something more advanced and it’s not in your course, right?

The overall point here is please don’t be afraid of starting your own business because you are afraid
that you’ll make business mistakes. You will make business mistakes, so don’t let that stop you from
pursuing your dreams! Just remember to always learn from those business mistakes and to never, ever
make the same business mistake twice!

Have you made any business mistakes when starting your new business? What were they?

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Real Estate Investing Short Sale Investing Subject To Investing Wholesaling

So, is it a deal or not? What would YOU do?



So is it a deal or not? What would you do? Ok so I know what I am going to do with this property….remember the one that my past seller whom I did a sub2 deal with called me about recently?

I went to see his property last Saturday (I think that’s when it was.) Anyway, I know what I’m going to do with the deal for the most part so I wanted to throw the details out there and see if you all think it’s a deal or not and ask you what would YOU do? Or what options can you think of?




It’s a twin. 2 to 3 bedroom / 1 bath.
Owes about $58,500.
Mortgage payment $556 / mo.

Comps come in around roughly $55,000
Rents in the area are about $525 to $550.

Now the ex-boyfriends mom who lives in the house claims she will pay $700 / mo. plus all utilities except gas if she can stay and let her daughter and son-in-law move-in with her (she has been paying $300 / mo.)

In this scenario, remember that the seller will just flat out sign over the house to you and you also have your real estate license. Soooo, is it a deal or not? And what would YOU do?

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Listed Properties Real Estate Agents Short Sale Investing

Geez this short sale deal is back and forth and the bank doesn’t even have it yet!

So I get a call from the seller saying they signed the agreement but they wanted to counter….fine. I had to CONFIRM tho that the wife signed it. She was there and the husband put her right on the phone. She said she initialed and signed everything and she understood everything. Ok cool.

Got the signed agreement and faxed it to the selling agent. Well the buyers didn’t like the new counter price so they backed out of the deal. I warned my sellers that could happen but they didn’t care. Don’t ya love how people never want to listen to the professional that they hire? That’s what makes being a real estate agent something that sooo doesn’t appeal to me and only comes 2nd out of missed investment deals…know what I mean?

Anyway, I told them the next time they get an agreement to try to sign it asap too so the buyers don’t get buyers remorse too. The husband said ok. (It took them a week to sign it practically….we were waiting on the wife.)

Fast forward to yesterday. I get a call from the selling agent and she told me the buyers called her and said they’d reconsider the house if the seller’s would sign off on the original price and then the buyers would entertain negotiating somewhat with the bank if the bank countered. Sooo I passed that info along to the sellers and after they thought about it they called me back and said ok.

Dropping the paperwork off today for the ORIGINAL offer price for the sellers. I’m hoping I get an signed agreement today from them.

On a super good front. Today is my first day of eating REAL food after an 8 day juice fast. I had 2 slivers of watermelon this morning and 1 egg (yolk only.) And it was amazing! Lunch and dinner are recipes from Emeri’s new show “Emeril Green.” That show rocks!

For you movie buffs….Kathy and I saw “The Invention of Lying” last night. It was cute and funny at times but it was longggg. It seriously could have been a 1/2 movie and I would have liked it much better. Kathy picked it (after I’ve been picking nothing but duds lately) and I look over at her and she was SLEEPING! lol

Ok off to Whole Foods to get some red snapper and lump crabmeat and some organic stuff for the 2 meals. Plus, we’re gonna either order an organic turkey for turkey day from there or from our local amish farmer (we know the farmers price, now we just need whole foods price.)

Have a great Saturday!

Flippin’ Carey

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Real Estate Investing Real Estate Marketing Short Sale Investing

Real Estate Investing Marketing Schedule

Ok so I’m one of those people that need a schedule. Not only do I need one but I find that I’m wayyy more productive when I write stuff down even if I have to do it everyday. I think I learned that writing the stuff down each day worked best for me after reading The 4-Hour Workweek by Timothy Ferris. Awesome book which I highly, highly recommend.

Now through the years of investing (10 to be exact) I’ve figured out which methods work for me and actually got me deals and made me money and which methods didn’t do squat. So, of course, I’m only concentrating on the methods that have made me money in the past.

Also, please keep in mind that this is a general schedule and I may change the days around as I have other things that may come up (cause I’m not only involved in investing but I have other things going on.) Oh and also….I am on this cleanse/juice fasting thing for the next week so I’m not sure how my body will react and some of the things that involve leaving my house may have to wait until the following week. (I’m taking a holistic approach to getting rid of my acid reflux/heartburn/gerd…hence the cleanse/juice fast. I may post about that in the future just in case any of you suffer from that. It’s going awesome…haven’t had to take my heartburn medicine this entire month!) Anyway….enough of that….on to the schedule:

Mondays- Put out 10 Bandit Signs.
9am – 10:15am: Get probate listings from courthouse (I haven’t gotten a deal this way yet, but I get my phone ringing and have made offers.)

11:15am – 1:15pm: Go visit cash-only solds from the MLS to add to my buyers list. (I kinda searched for them before like that but after watching Steph’s video about it I really think I’ll take it more seriously and make it a part of my weekly/monthly routine.)

2:15pm – 4:30pm: Search MLS for reo’s to make offers on and owner-occupant fixer uppers/motivated to send mailings to.

4:30pm – 5:30pm: Send out probate letters.

Tuesdays- Put out 10 Bandit Signs.
11:15am – 1:15pm: Visit the MLS reo’s from yesterday, if necessary.

2:15pm – 3:15pm: Make offers on every property visited.

Wednesdays- Put out 10 Bandit Signs.

Thursdays- Put out 10 Bandit Signs.

Anything that I may not have gotten accomplished on Monday, I will take care of on Thursday. Plus,

9am – 11:15am: I may go to the courthouse to check out pre-foreclosures. I refuse to send postcards to these people because over 10 yrs. it’s been the biggest waste of money for ME, personally. I am seriously contemplating coming at them from a real estate agent point of view to see if that can get me in the door and that way I can throw 2 options at them: I can either buy your house from you or list it for you. This will mostly be door-knocking though. If I get no answers then I will send a nice letter, which I got from my father. I’ll revise it a wee bit, but overall I like it. (My father is a Realtor and has a lot of success with getting listings from pre-foreclosures.) Keep in mind, I’m not in this for listings, I want the deals, of course, but I’m not going throw away any easy money that’s for sure.

1:15pm – 3:15pm: Door knock the leads that I get from the courthouse that day.

4:15pm – 5:15pm: Send out letters to the folks on my lead list that weren’t home when I door knocked.

Fridays- Put out 10 Bandit Signs.

Saturdays- Put out 10 Bandit Signs.

Sundays- Put out 10 Bandit Signs.

Notice that I’m leaving the evenings open for potential appointments with folks or they can be stuck in slots on days that I have open, including weekends.

Everyday I’d like to put out bandit signs as they have been my biggest money maker for deals (along with the vinyl lettering on the back of my car and the MLS.)

There ya have it. That’s my tentative schedule for now. I may have to tweak it, but we’ll see how it goes. This week may be a bit hairy because of the cleanse I’m doing, I should know more tomorrow. Honestly tho, I may just do only home type stuff this week because I have this whole schedule going on with what I’m suppose to do with this cleanse each day (it ends on Friday.)

Flippin’ Carey

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Real Estate Agents Short Sale Investing

Short sale listings can never be easy, can they?

So I dropped the aos off yesterday for the sellers of the property that I have listed that is a short sale. As I was leaving the husband shows up (to pick up the paperwork. The house is vacant, they live elsewhere.)

We chatted for a little bit and I told him to have it back to me tomorrow. And if he or his wife had any questions to give me a call. He said his wife is not doing to good and that she’s been in a “mood” and that she told him she wasn’t signing shit! 🙂 Lucky me.

He told me not to worry and he’s use to dealing with her and that he’ll have her sign it by tomorrow. We’ll see how that goes.

I feel bad for the lady as she was in a horrible car accident as a passenger, completely not her fault, so she’s very bitter and angry and emotional nowadays but geez, sell your house. She told me at one point she’d rather the bank take the house back rather then her not make a penny on it. Mind you, I been telling them from the start they ain’t gonna make a penny on it! At least I got the hubby on my side.

I was working on my schedule this morning while laying in bed and I should have it up later on today. Tarheel Ed, I got your request and I will shoot you an email later. Thanks for the welcome back, btw. 😉

I’m off to shower as Kathy and I have to go fill one of our atm’s that’s up the street as soon as she and Joe (her 9 yr. old) get back from church.

Flippin’ Carey

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Real Estate Agents Real Estate Investing Short Sale Investing

Short sale going on…

Ok so when I was a lil slow on the trigger with getting deals because I didn’t want to disappoint anymore sellers I decided to go with the OPTION side of life. So what I did was I got this nice 4 bedroom, 2.5 bath newer home in Parkesburg, PA. tied up with an option contract. Wasn’t all too much wrong with it so I decided I’d try to flip my option to someone in 30 days and if I couldn’t do it than I was at least upfront and honest with the folks and I could always list it if they wanted me too (for those that are just learning about me now, I’m also a licensed Pennsylvania real estate agent.)

Well 30 days goes by and I couldn’t whoelsale it to an investor, which I knew I wasn’t going to anyway, this was totally an owner-occupant type deal. I also, unfortunately, couldn’t flip my option contact to an owner-occupant. So, I advised the sellers what was up and that I, personally, did not want their house and that I could list it if they’d like. They did.

The house as been on the market foreverrrrr but we finally got an offer yesterday on it. We’re countering, but regardless, it’ll be a short sale. I’m sure buyer and seller will agree on price and then we’ll have to go through the process to get the bank to agree to it 🙂 (Wanna learn how to do short sales? Check this out short sale course out!)

The first is with Wells Fargo and the 2nd is with Wells Fargo’s Home Equity division. So, I’m on my way to drop the agreement of sale off to the sellers so they can initial the changes they want to make and sign the contract. The reason these folks are actually going into foreclosure in the first place is because the wife was in a major car accident and is on permanent disability (with no benefits) and there ya have it. The husband called me today and said he’d have to pick up the contract and then get her to sign it later because he’s taking her to the emergency room for some problems she’s having (he took her late last nite as well.) This one was very emotional and is a TRUE hardship situation.

Oh and in the meantime, I get a call from a guy who saw that this house was for sale. We start chatting and it turns out that he’s an investor. We had a pretty decent conversation and I added him to my wholesalers list hehehe Funny how things happen, ain’t it? That Law of Attraction stuff really does work………..

Already, off to take care of this. Later I’ll post my new schedule and plan for coming up with deals. I already gave myself a 10/31/09 deadline for my first newly “not m.i.a. anymore” deal.

Flippin’ Carey

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Kids Short Sale Deals Short Sale Investing

Short sales and kids and hospitals, oh my

Woohoo! GOOD NEWS to report to myself (and you all) today!

First, the property that I was describing that goes to sheriff’s sale tomorrow? Well the first mortgage called me this morning and said that it’s been postponed until January. Her and I chatted a bit and we both don’t understand what the 2nd is thinking at all! But I’ll keep trying to give them some facts to make them listen to reason. Still haven’t had luck getting in touch with a supervisor per Cory’s advice.

On a personal note: Brandon was released from Children’s Hospital of Philadelphia yesterday. He still has an awesome sense of humor…he texted me asking if I was gonna have dinner waiting for at home when he and his mom (Kathy, my significant other) got there. Then he said he was only kidding cuz he knows I’m a horrible cook. (I’m not THAT bad though.)

They still don’t know what his therapy sessions are going to look like yet, but he still is not allowed to go to school yet. Oh and he’s in full force with his texts asking for songs. (Since he’s been in the hospital I’ve been downloading him songs and making cd’s for him.) So, we’re currently working on a new one for him.

Ok so, I have to work on getting in touch with Loss Mit. Supervisor for the Exeter township house. I also REALLLLLLY need to get my sub2 property sold (that I bought on 9/28.) I’ve been getting a lot of headaches lately and Kathy thinks it’s because I don’t have that property sold (I tend to believe her about medical stuff since she’s a registered nurse although now she does drug studies for cancer medications.)

Also, I had a guy that I spoke to months ago call me today for help. I honestly think I may be able to help him KEEP his house, but I’ll know more after I talk to him in greater detail today. I don’t know what has happened over the last couple of months.

And, the deal that I have 1/2 going on in Oxford?? Well I got the agreement of sale signed but nothing else really. The lady had to go back to work so didn’t have time to get docs notarized. I keep calling the husband but he hasn’t called me back. Well he did call me back once to tell me that the key to the house will be in the mailbox waiting for me and all of the docs I need from them (tax returns, etc.) will be in the kitchen. But I told him I still need to meet with the wife to get stuff notarized and I haven’t heard a peep. Maybe it’s cuz of the holidays???

Anyway, gotta get going now as I’m going to watch Andrew today. Andrew is my best friend Donna and her partner, Colleens adopted lil baby boy. They brought him home from Guatemala on October 11th 2007 and ever since I met him I’ve been hopelessly in love with him. Seriously, I would love to spend all of my time with him. He’s awesome. And he’s made me do a lot of soulsearching actually. I REALLY need to get my shit together with this real estate investing because one day when I have a kid I want to be able to be home with him/her every day. I don’t want to have to dread getting up and kissing my kid good bye so I can go to work at my JOB for 8 hours. Nope, I don’t want to do it. And I have to ENSURE that it never happens!

Oh and Andrew, he turned 1 yesterday hehehehe….God I love that kid. I really have never felt this way about a kid before….I mean I get along with ALL kids. Always have, always will. But I’ve never been a big “lil” kid kinda person, if you know what I mean? But I’m definitely a HUGE “lil” kid Andrew kinda person. I’d seriously do anything for that lil guy.

andrew at christmas 2007

Adorable ain’t he? That’s one of his xmas pics for 2007. Sigh…..guess it’s not a good idea to steal the kid of your best friend huh? lmao Btw, I’m just JOKING (well not really…ok ok yes I am, I am.)

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Random Ramblings Real Estate Investing Short Sale Deals Short Sale Investing

Starting a real estate investing blog

Well I decided to start a blog after checkin out the WI girls blogs and Stephs….and Patricks. I figured this would be good for me to help get things on paper errrr computer for me to see. Ya know? Maybe some lightbulbs will go off when I do some re-reading and also I can keep myself accountable. That’s the plan anyway.

Since I’m sittin at the hospital while Brandon (significant others son) is sleepin and I have nothing else to do so I’m gonna do this for a bit. I may get sleepy shortly cuz it is 1:40am. Btw, I hope I’m doing this right…..can anyone see this?

I’m a lil frustrated by that ss that I posted*. I’ve invested a lot of time and energy in it since August. Grrrrr and now the 2nd won’t even counter cause they are going to the auction! The numbers don’t make sense to me so I don’t see why they are going that route…but what do I know?

Here the numbers:

1st $130k
2nd $ 40k
Back Taxes $14,400

Repairs Needed $10,000 to $15,000
ARV $185k to $199k (it’s been fluctuating with the market, but mid 190’s is probably accurate.)

I only offered 2nd $1k but could do as much as 10k and I have an investor that would pay $160k to 165k…..

The bank didn’t even do an interior bpo! I have no idea what they are thinking. The interior would have come in I’m sure at around $170k to $180k and honestly that’s too much, imo.

Well I’m gonna follow Cory and Shauns advice from the forum and see how that pans out.

I got another deal brewing but I forget the numbers right now cuz well it’s 2:15am and I am sleepyyyyyyyyyy. But boy does it suck sleepin on this uncomfy couch in the hospital.

Oh and for those that inquire: Brandon will be getting out of the hospital on Dec. 5th. Then he’ll have to go to outpatient therapy daily for a month, then he MAY be able to go to outpatient therapy 3 days a week and school 2 days a week. We shall see.

I’ll report back soon and give ya the numbers on the new ss I signed up (half way.) And I gotta talk about my sub2 deal more……….that thing is freaking me out!

*This is referencing a post I made on flippinghomes.com

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