Hunting Deer (Pics), Hedge Funds, and Hope!

REF 13030

I didn't create a Blog posting last week... Shame! It's funny how easily the 'flesh' (your body) can influence you to do the things you do not want to do (mentally) and keep you from doing the things you do want to do. A constant battle with not doing the things I want to do.

One thing I did want to do is go deer hunting this year!

I missed an 8pt+ and a 6pt buck... My brother n law got a doe though so we at least have some jerky and steaks on the way!

Being out in the woods for 16 hours in almost complete silence gave me a lot of time to think about the 'Big Deal' I've been speaking about over the last month.

I put a lot of work and time into it and the investor I was working with only looked at 3 of 19 videos I took and gave an offer based on "driving the properties". The offer he gave was actually lower than the seller bought the houses so I knew immediately that his numbers were shot.

Come to find out the seller had a friend who put him in touch with a company out in San Diego who apparently is a new player here in Indy (Do you know who it is?).

They offered almost 3x MORE than the amount my investor did! I figured I would make the best of it and sent the company an email introducing myself and mentioning the deal they were about to take from under me ha (in a joking around way).

I was surprised by a call by the CEO of the company and he asked if I could meet with him while he is in town during the week of Dec 2nd.

They have a full-time REA reviewing properties for them locally... I was thinking maybe I could be their off-market contact and bring them the houses aren't listed? There may be an opportunity there and that would allow me to focus fully on networking (which I enjoy most) and keep me from having to post up these bandit signs in the freezing cold! (I'll hire it out soon)

I sent a congratulatory text message to the seller of the Big Deal and he called me back. He mentioned the buyer had reduced their offer and said they want to see how long the tenants stay in the houses over the next few weeks? He didn't like that much... he told me he hasn't signed any contracts and hasn't fully decided on selling the properties yet.

I had proposed working with him directly and said I could get (26) of (34) houses fixed up and rented within 6 months. That was more time than the contractor I spoke with said it would take. (I would be buying 8 of the houses)

In this scenario I would facilitate the rehabs, hire out a local tenant screening company (which I have an existing relationship with) to fill the vacancies, and manage the properties myself while implementing systems for landlording which I've learned about on BiggerPockets.

Conservative numbers show the seller would be making ~$95k/yr in NOI off (26) props... If he wanted to sell the properties turnkey I would help him do so.

We will see what happens!

JHP ACTION GOAL:

1) Finish S-Corp Filing:

2) Create Compensation plan for Affiliate Marketing:

3) Buy More Bandit Signs:

RD Startup ACTION GOALS:

1) Find a Rockstar App Developer:

2)

3)

PERSONAL GOALS:

1) Spend more time with my wife and family than REI:

2) Read an Hour a Day:

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JHP ACTION GOAL:

1) Breakdown Big Deal Numbers: COMPLETED

2) Finish JHP Website: INCOMPLETE

3) Find a Virtual Assistant: COMPLETED

4) Find Big Deal Financing: COMPLETED

5) Put Together Pay Structure for Affiliate Marketing: INCOMPLETE

RD Startup ACTION GOALS:

1) On Hold...

2)

3)

PERSONAL GOALS:

1) Finish 3+ Chapters in "The Art of Talking to Anyone": INCOMPLETE

2) Walk Stairs for 15m (5) Times: 2 of 5

MEETINGS/SOCIAL:

-Website: Met with Developer to work on some of the last pieces

-MeetUp: Hosted (17) People at the Indianapolis Meetup

-MeetUp: Attended Wholesale-Houses Meetup

-House Visit: Went to a 5bd/2bd/2453sq house in need of full rehab

-JHP Meeting: Met with Leland Baptist to discuss a collaboration with training virtual assistants for REI

-CPA: Met with my CPA to discuss incorporating

-Networking: Spoke with the CEO of a San Diego based private money fund which has already spent $10M in Indy over the last year for rentals

MISC ACTIONS:

-Hunting: I didn't shoot anything... Missed two bucks!

WEEK RESULTS:

BANDIT SIGN CALLS: 2

DEAL STATUS: Big Deal in Limbo (San Diego company gave high offer)