Post #6 - It's a Beautiful Thing

Investors,

It's been a busy, crazy week but I'm lovin' it.  I started acting and feeling like a real investor.  The best part of the week is the conversations my wife and I have had about deals, analysis, and our dreams.

First off, I can say that my efforts to market myself and my business are actually working.  All my methods are mostly free by the way.  I got a call from a handwritten letter I sent last week.  I followed up with a property visit/tour and will call the sellers tomorrow with an offer and send a Letter of Intent (they are asking way more than it is worth, but it's a good experience and good practice for me).   

My Craig's List ads have turned up some action the last two days too.  I got a call yesterday about a triplex that is heavily distressed and the owner called me because of my Craig's List ad.  I did a drive-by last night and preliminary rehab analysis and decided it was too large of a project to tackle as a beginner (and the neighborhood left much to be desired).  I received an email about a SFH close to my "farm area" with an existing tenant.  I plan to do a drive by and call the seller back in the next day or two.

And all these leads have been directed to me through my Google Voice answering/redirecting service, which is really handy.  

Next, I've been learning a lot from conversations with other investors and loan officers at my local banks about conventional loans, defaulting, penalties, commercial vs. residential, HELOC, and proof of funds.  I know I'm probably getting on their nerves (and their blocked callers list) but I've been calling and asking questions at least once a day.  And they have been so helpful and patient with me.

Best is last, my wife and I spent a lot of time together this weekend talking about a potential deal that will be sold at public auction next week.  We have been gathering data and polishing our analysis for more than two weeks and we have our maximum bid now.  This may seem run of the mill for lots of investor couples but it is extraordinary because this time last year, we shivered at the thought of "investing" and "borrowing money".  No we are both comfortable with the analysis and decision to pull the trigger on the property if it is in our price range.  The best part...we are doing it together.  Not only are we starting to take action in real estate investing, not only are we starting to acquire assets that will provide long-term cashflow for us and our son, not only are we teaching each other by having in-depth discussions about everything (and then looking up the answers on BP), but we are doing it all together.

We are still starting and learning but it's a beautiful thing.  Share any story you would like to in the comments.  I'd love to hear from other investors.

Trent