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Updated almost 13 years ago on . Most recent reply

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163
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Thomas Handy
  • Investor
  • El Paso, TX
20
Votes |
163
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It's June 1, what have you done lately?

Thomas Handy
  • Investor
  • El Paso, TX
Posted

I've been extremely busy lately with work, coaching, and working on a few deals. And preparing to move at the end of the month.

My teeball team lost last night but it was a great season. I saw kids make a lot of progress.

I've been working on a unit event that could attract up to 500 people to my organization tomorrow. I can't wait till it's over. But I worked with people in my unit, managers on post for the visitors coming, as well as talking to the local media to publicize the event for visitors coming from Sulpher, Lake Charles, Alexandria, Deridder, and others.

Let me get to the meat of the post. One deal I am working on is a 3 bedroom SFH. The process is taking longer than expected since the bank took longer getting the paperwork together. The good thing is the home has a renter. The bad thing is the property manager. I talked to the PM and told her I wanted to add a railing on the front porch. She gave me a couple of phone numbers for me to call the contractors. To me this showed me she was lazy. If I'm about to pay her 10% a month I could rent the home myself. As Donald Trump says "You're fired". I'm calling a few PMs over the next couple of days to take over managing this house.

The second 3 bedroom home I'm buying from an investor for 3K; I would take over the loan from the owner. I got an appraisal and the home came in for $68k. The home just needs some cosmetic work down and then the place can be rented for $750 to $800.

The best part is all of the money I've used for these deals will come from a loan I got through Lending Club.

I'm still working on my presentation for getting private investors and I plan to get that started soon.

Most Popular Reply

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849
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Loc R.
  • Note Investor
  • Pasadena, CA
544
Votes |
849
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Loc R.
  • Note Investor
  • Pasadena, CA
Replied

Earlier this month I sold/closed on a property that was more of a headache than anything else. At least it's off my "to-do" list.

I just had an offer accepted on a 3-note portfolio, and I have a seller literally begging me for an offer on another note.

I had a very productive dinner with the SEVP/CCO of a local bank, which I am certain will lead to something good.

Finally, I had 2 family members who have done deals with me in the past approach me with some more money they "found."

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