​ Episode 29 – Lateral Movement

– Debt –

So I managed to consolidated my debts this past week. I paid off some debts and managed to streamlined everything under one roof. If all goes well I should also be able to lower the interest rate on my vehicle also. This isn't really related to investing, however, most of the debt I have recently accrued has been from my investing activities. This will allow me some breathing room and most importantly, allow me to paid off my debts sooner.

– 192 –

Project is on schedule to follow through. I have ceased the rehab work for a while but now I'm quite sure it's all done on my end after some phone calls today. My buyer had their family check out the property today per my suggestion when we previously have met.

It was a good thing since they found some water damage under the water heater. This is good because they are willing to fix it and still going forward with a November 1st move in date. It's all I wanted anyway, since I can be flexible with the down payment and will adjust the payment terms to cover the costs of any fixes.

– Rocky/444 –

Still stuck where it is since the rain ceased lightly but continue for a brief time yesterday. If the weather holds and the ground can dry out, maybe it can finally move to its destination. Yikes! No more buying dumps… I'll document the rehab a little more when dealing with Rocky, it should be quite interesting.

– Lateral Move –

I had an extensive walk through of wholesaling today with an investor I met previously. He pretty much is becoming the accountability partner that I was looking for when I started out. We connected last month at a Treia meeting and has hit it off since. I'm pretty pumped and motivated every time I spoke with him. It's becoming quite beneficial.

He showed me how to navigate some county records websites and literally how to write a yellow letter, lol. I'm very grateful since now it means I can focus on the just simply finding deals and not worrying about all the other stuff. The infrastructure is already built and I'm just utilizing his resources to get things moving.

It means I don't have to find an attorney or worrying about what exactly I'm going to say to a buyer. If I'm really stuck I can simply transfer the call to my partner. The driving, writing letters and other basic stuff that anyone can do will generate enough phone calls to pay for my apprenticeship :). I drove and wrote down a bunch of addresses today. Big deal because it was a lot more focus then to what I did a while back when I was researching.

This is a lateral move so that I can generate enough funds to procure my mobile homes. I know some investors will rehab on the side so that they can have enough funding to pursue their buy and hold strategy. I think this will pretty much play out the same way, only on a smaller scale and quicker turn around. Wish me luck!

– That's all I have for this week. I made it to podcast 95.. Pretty cool stuff since now I'm back to where I was when I was listening to them on random. Alright folks, thanks for reading and may you enjoy a productive and profitable week.