Week 20 – Holy Productive

Wow! This week has been AWESOME! We got 3 deals under contract although we are e09e20c0d4fd42e5a40338e4d3317bf6
walking from one, just doesn’t meet out investment criteria. We’ll be closing on both of these next week! I also was asked by the lovely Scott Carson to dive into due diligence for his Virtual Note Buying for Dummies course. It was an awesome time and a great way to get our services for TapeTechs.com and NoteInvestingClub.com to new note investors. Lastly, I prepared my final presentation for our upcoming Note Class in the Central Florida area. I’m REALLY looking forward to it!

 

Monday May 9th – Sunday May 15th, 2016

Monday & Tuesday (days off)

Wednesday (4 hours)

  1. Got offers accepted on 3 properties in IL and OK (take a look here). Decided just to move forward with the IL properties after further due diligence came back this weekend.
  2. Called Realtors to provide BPO/CMA’s on properties and verify condition.
  3. Ordered O&E on assets.

Friday (2 hours)

  1. Tenants moved in finally (this process was definitely a long one). They seem very happy with the home and I hope they are great tenants while the rent.
  2. Created my powerpoint presentation for Scott’s Note Buying for Dummies class.

Saturday (2 hours)

  1. Drafted documents and JV/Lending Agreements for our partners on these two new deals.
  2. Looked at a new Florida asset and submitted a bid.
  3. Reviewed Modification plan for a borrower to be submitted to them this week.

Sunday (5 hours)

  1. Spoke at Scott’s Note Buying for Dummies and blew some investors minds on the preliminary due diligence process!
  2. Looked at 3 more assets in GA, & IL will likely put offers in on one or more Monday.
  3. Finished my powerpoint & handout presentation for my day long class May 21st with CFRI. If you’re local and want to sign up go here –>  CFRI Note Class

Offers Submitted: 1
Offers accepted: 3
New sellers contacted: 0
Total Income: $299.75

 

Week 19 – Make it Happen May!

May is starting to out as a great month. Inventory is ample and in steady flow. I am feeling really positive with where the market is going and looking forward to making bids! Since I’ve dubbed this month “Make it Happen May” I’m look forward to seeing things happen. My actions are already proving this!Screen Shot 2016-05-08 at 3.59.46 PM

Monday May 2nd – Sunday May 8th, 2016

Monday & Tuesday – Day off

Wednesday  – (3 hours)

  1. Received a new tape from another TapeTechs client for our VA’s to scrub.
  2. Volunteered/Went to the CFRI (Central Florida Real Estate Association) Meeting. I was able to network with several other investors, and even got to do a quick speech about my upcoming Note Investing class in Orlando on May 21st. I received a lot of positive interest about the class!

Thursday – (1 hour)

  1. Got word back on my 2 offers from two weeks ago. They countered extremely high compared to my offers. I submitted my CMA/BPO’s to verify my bid. I’m waiting to hear back.
  2. Received 2 new tapes to go through. One has 41 assets, the 2nd tape has 213 to dive through. This is when knowing how to narrow down tapes becomes crucial!
  3. Received a new deal from a colleague and friend. Submitted a bid on that one. We heard back the following day with a counter and are in negotiations.

Friday –  (30 minutes)

  1. A final hearing to file final judgement was on Monday May 2nd. Our attorney heard back that we are set for foreclosure sale June 13th, 2016. We are hoping to sell it at the foreclosure steps, if not we are working on reaching out to local investors in the neighborhood to sell to. (This property is in Tampa).
  2. Returned the tape to a TapeTechs Client that our Virtual Assistants had completed.
  3. Paid 1 invoice.

Saturday (5 hours)

  1. While I don’t love working on the weekends it works well with my personal schedule. I normally only work in the early mornings before my husband wakes up and we venture out for the day. Today, I started scrubbing my newest tape. I submitted 1 formal bid and inquired for more information about 2 more I’m interested in. Hopefully I’ll get 3 formal bids in.
  2. Dove into my 2nd tape which my VA’s (virtual assistants) are helping me with. I’ll submit my formal bids on Monday.

Offers Submitted: 3
Offers accepted: …still waiting! (waiting to hear back on 4 offers as of now)
New sellers contacted: 0
Total Income: $219.90

Week 18 – Busy, Busy!

This was one of those weeks where each night you are working toward the moment you can finally get some rest. Not only was it busy for business but also in my personal life. While I managed to do it all I’m definitely tired and ready for some R&R! This quote pretty much sums it up. Hustle humbly and let the success scream!1d5f30f3d6577713add0005fee2d457b

Monday April 25 – Sunday May 1st, 2016

Monday – Day off (Hubby’s Birthday)

Tuesday – (2 Hours)

  1. Returned a tape to a TapeTechs Client that our Virtual Assistants had completed.
  2. Received a new tape from a hedge fund and sent it to our VA’s to scrub for me (instead of me doing the research, I went to the gym, cooked dinner, and got some time to relax)! Submitted 3 bids on these assets.
  3. Paid invoices to two vendors.

Wednesday – (4 hours)

  1. Received a new tape from another TapeTechs client for our VA’s to scrub. This was a much larger tape and wanted a 24 hour turn around. I monitored the VA’s closely to ensure their work was quality even with the rush delivery.
  2. Received news that my upcoming class on Non-Performing Note Investing is going to be switched from May 14th to May 21st.

Thursday  – (30 minutes)

  1. Submitted the completed tapes to our client.

Friday & Saturday – Time Off

Sunday – (2 Hours)

  1. Wrote this post.
  2. Did Marketing for May. I do this in batches so I’m not having to constantly do marketing throughout the month.

Offers Submitted: 3
Offers accepted: …still waiting!
New sellers contacted: 0
Total Income: $1,138.36

 

Week 17 – When it Rains, It Pours

We have three new offers in that I’m pretty confident we will get 1 if not all three. In armstrong_williams_quoteaddition, we expect to receive new inventory on the 26th of next week that I will be making at least 5 or more offers on!

I’m looking forward to new deal flow and believe they provide awesome returns for our private lenders. In these deals our investors are in max 70% Investment to Value. There’s tons of upside with little risk (while there is always risk – it’s definitely mitigated).

Monday April 18th – Sunday April 24th, 2016

Monday (3 hours)

  1. Received a new tape for our VA’s at Tape Techs to research for a client.
  2. Called and emailed our vendors for the workout on our current deals.
  3. Emailed/Called 5 new sellers.

Tuesday (2 hours)

  1. Talked to a new client about our services.
  2. Met with a new attorney handling a foreclosure for us in Riviera Beach, FL. The response and feedback was really good. We’re aiming for a 6 month max workout on this note.

Wednesday (day off)

Thursday (2 hours)

  1. Went through new inventory, made a selection of 4 assets I submitted bids on. 2 were declined right away. I will hear back on the other 2 Monday or Tuesday!
  2. Read

Friday – (2 Hours)

  1. Called realtors to get drive by exterior photos and CMA (comparative market analysis’s) on our new potential deals.

Saturday (Day off)

Sunday (3 hours)

  1. Created our marketing email for 3 new deals along with formal executive summaries.
  2. Read

Total Profit This Week : $53.49
Number of New Sellers Called: 5
Number of Deals Offered: 5
Number of Deals Accepted: …

Week 16 – Market, Market, Market

This week was all about marketing! I really ramped up our email marketing to potential images-2clients and we received great feedback because of it. I spent several days this week talking to new clients, potential partners for products that will additionally help our clients, and even received conversions from just one email. It really goes to show, if you put yourself out there to the right people and your product is a solution for their needs, you’ll see results!

Monday April 11th – Sunday April 17th, 2016

Monday (3 hours)

  1. Created several email campaigns for the month of April for our due diligence services, Note Investing Club and Tape Techs.

Tuesday (2 hours)

  1. Received a new tape for our VA’s ta Tape Techs to research for a client.
  2. Talked to a new client about our services.
  3. Answered emails responding to our initial email about our services. We received a ton of positive feedback!
  4. Resubmitted an offer that was previously declined but still on the market. – Still declined, the seller is looking for an unrealistic offer (in the 70% of CMV range).
  5. Submitted a new offer on a property in Ocala.

Wednesday (1 Hour)

  1. Emailed Vendors about our current deals – we’re in the process of getting a new tenant into our rental, and working out a modification hopefully with a borrower. We’re still waiting on their paperwork, which is putting a major hold on their verification.
  2. Received a very late payment from a borrower that is in a forbearance plan. Our servicing company contacted them, and made it very clear if we do not receive payments on the 1st of the month from here on out, we will move forward with Foreclosure or offer a DIL. We’ll see if we get payment on the 1st of the next month.

Thursday (2 hours)

  1. Talked to a potential partner for new services to offer our clients after they move forward with the formal due diligence and their bid is accepted
  2. Talked to two new clients that had questions about our services and
  3. Received a new tape from a client to be scrubbed!
  4. Uploaded Invoices to Evernote for our bookkeeper to reconcile.

Friday – Saturday (Days off)

*We did receive another tape from a client to be scrubbed by our VA’s at Tape Techs.

Sunday (1 hour)

  1. Wrote this post.
  2. Read

Total Profit This Week : $382.59
Number of New Sellers Called: 0
Number of Deals Offered: 2
Number of Deals Accepted: 0

Week 15 – Taking Time Off

I took it easy this week. While I should have dedicated more time to calling new banks, I letScreen Shot 2016-04-10 at 11.25.55 AM
excuses get in the way and simply slacked – no other way to say it. I will say I definitely don’t feel guilty about taking some time off. Dennis and I have been focusing on a lot of personal goals we want to see accomplished in 2016 and next year. While I’m disappointed I did not receive more inventory, I was not taking personal responsibility for calling the banks, sellers, hedge funds I know I need to. Next week I will be making this my primary focus.

Monday April 4th – Sunday April 10th, 2016

Monday (day off)

Tuesday (4 Hours)

  1. Emailed my Vendors to check (I typically do this Monday, but since I took the day off I did it today).
  2. Listened to an awesome Monday Night Call (replay) from Scott Carson and WeCloseNotes.com on Due Diligence. You can listen to that here —> https://vimeo.com/161659479
  3. Updated all of my running checkbooks and workout checklists for my JV partners. I want them to have updated access to how our deal is progressing and where the money is allocated. To do this, I save the running checkbook & workout checklist into their own private Dropbox so they can see everything in real time.
  4. Verified the closing on our new note went smoothly & got forced place insurance on the property.
  5.  Submitted our most recent deal to be shown in front of our local REIA (CFRI) next month & had a Case Study created from Fiverr.com.

Wednesday (4 Hours)

Attended our local CFRI meeting where I volunteer, network, and hear about other’s investing strategies and deals. I’ll be presenting the “Deal of the Month” next month and teach a class on May 19th about Note Investing!

I also found out the GA and OH note I was hoping to be able to close on in late April fell through because of a lack of collateral files/paperwork to back the note. Bummer, they were good deals!

Thursday – Saturday (days off)

Sunday (3 hours)

  1. Marketing – watched a few videos, read blog posts, and started a new Facebook campaign.
  2. I adjusted some of my website features at tapetechs.com to provide our clients more information about our services.
  3. Listed to a video about Investing in Non Performing Notes that a fellow colleague sent me. Listen to the interview with Gordon Moss here! It’s pretty cool how he describes Bankruptcy and working in 2nds!

Total Profit This Week : $1,1995.00
Number of New Sellers Called: 0
Number of Deals Offered: 0
Number of Deals Accepted: 0

Week 14 – New Deal and Q2


Whoah- It’s 1st Quarter of 2016 already! I have to say while I’m not thrilled with how Q1 went, I know I still have several months and Quarters to take down more notes and reach my ultimate goal of making $120,000 this year. I’m well on my way and know I’ll get there as long as I keep working and keep focused.

Total Monthly Profit: $1,1994.17
Total Quarter Profit (Q1): $13,539


Monday March 28th – Sunday April 3rd, 2016

Monday (4 Hours)

  1. Reviewed the REO bids I submitted last week. Most were rejected, 1 was countered. I decided to pass after scoping out the neighborhood. The deal had potential but 1 block to the left was too rough, 1 block to the right was great. To wholesale it I wantedAbaco Ln Picture to be absolutely certain I’d have a buyer, and on the block I just didn’t have certainty.
  2. We got a new deal! Woohoo! Sent new JV Deal Docs to our JV partner & finalized the
    MLSA and Servicing Transfer paperwork with the seller. Take a look at it —–>
  3. Contacted three potential Social Media/SEO Marketing Managers to take over our marketing for our businesses.
  4. Submitted my newsletter article and advertisement for my upcoming CFRI Note Class on May 14th! I’m super excited to help educate my fellow Central Florida Real Estate Investors about all of the awesome opportunities in Notes!
  5. Updated my JV partners the happenings of my deals.

Tuesday (30 minutes)

  1. I’m trying to finalize a great deal in OH on a new NPN. I’m waiting to hear back from the seller if its a go or not. I’m also reviewing a deal in Riverdale, GA (not my favorite but has potential) from the same seller.

Wednesday (day off)

Thursday (2 hours)

  1. Updated invoice/receipts to Evernote for my Bookkeeper to reconcile within Xero
  2. Submitted an AOM to our attorney in PA to be recorded.
  3. Interviewed with 2 SEO and social media marketing experts for NoteInvestingClub.com and TapeTechs.com, our preliminary due diligence services. also reached out to several more for information and potential future interviews.

Friday – Sunday (Days Off)

Total Income for this Week: $606.85
New Sellers Contacted: 0
Offers Accepted: 0
Total New Bids: 2

 

Week 13 – You Learn Something New Everyday

8c1d175bcc6284b16d702d7de034e765Well, I learned a lot of new and interesting stuff this week. One cool thing about note investing (as I’m sure any area of investing), there is always a deal that teaches you something completely new that you would only learn in that one weird circumstance that it happens in the deal you want to buy, have purchased, or have under contract. This note had a 2nd mortgage that received a DIL two years ago. The 2nd mortgage contested the 1st mortgage filing foreclosure, and was going through court. I had definitely never seen that before and it brought up a lot of new concerns or issues that I was worried could arise. I talked to my attorney to clarify my concerns and after reviewing the asset and docs I felt comfortable moving forward.

Monday – Tuesday (Honeymoon <3)

Wednesday (6 hours)

Back to the grind big time. I knew I had taken some time off last week and early this week so I got to it and accomplished a lot.

  1. Paid an invoice
  2. Signed for my taxes at my accounts so he can finalize our e-filing.
  3. Emailed vendors handling our deals
  4. Looked at new inventory (put offers in 4 new deals)
  5. Reviewed 2 counter offers from a seller, adjusted our offers slightly!
  6. Got 1 new FL note under contract, but am doing further due diligence. It’s the deal that is teaching me many new lessons! More to come if we decide to close on it or not!
  7. Requested an interview with 3 SEO and social media marketing experts for NoteInvestingClub.com and TapeTechs.com, our preliminary due diligence services.

Thursday (1 and 1/2 hours without reading)

  1. Talked to my attorney about the new FL deal.
  2. Emailed our new FL deal out to our investors. Received several interested partners but none are able to fund in the very quick timeline by March 29th. I’ve asked for an extension from the seller, but have not heard back.
  3. Read for an hour and half.

Friday (5 hours)

  1. Received an REO list from a close friend and colleague. He has a direct seller that allows us to purchase REO’s bypassing auction sites. We put offers in 5 properties! Our intention is to wholesale these to local investors who will fix and hold as rentals, or fix and flip. Fingers crossed we get ALL accepted – they’re GREAT deals!
  2. Went to our Orlando Women Entrepreneur Book Club. It was great to see my fellow entrepreneurial women and talk about our most recent book, Crucial Conversation (highly suggested).

Total Income for this Week: $531.90
New Sellers Contacted: 0
Offers Accepted: 1
Total New Bids: 9

Week 12 – Roller Coaster

This week was interesting. I didn’t spend a lot of time on the business as I got married on Friday and knew the following week I had off work. I decided to focus most of my effort and emotions on the wedding! The start of the week I did want to make sure I at least managed the deals we had and even worked on 2 new deals.

Monday March 14th – Sunday March 20th, 2016

Monday

Our OH deal fell through. We were able to get a realtor inside and boy oh boy was this place  TRASHED! While the neighborhood supported higher values, the condition, layout, and size of home made it a much less desirable and valued home than we anticipated. We walked.

Tuesday (1 hour)

  1. Voted – It’s our duty and right (plus these candidates are a mess and our vote matters now more than ever).
  2. Heard back on 2 of my offers on new FL assets. I believed they were accepted based on the sellers language “sale date __/___/16 – will hold”. It was my belief that will hold and sale date meant our closing date. I started contacting our private lenders and had SEVERAL interested partners within just 24 hours.

Screen Shot 2016-03-20 at 6.07.25 PM

Wednesday (Day off – Final Errands for Wedding)

Thursday (2 Hours) –  BIG LESSON & LET DOWN

  1. Emailed the seller of my FL assets for the electronic collateral files and came to findScreen Shot 2016-03-20 at 6.10.20 PMout the “will hold” meant they are no longer interested in selling and will hold the deals. I had spent about 2 hours working on executive summaries to send to our lenders just to be let down and they were GREAT deals.
    My ah-ha from this experience is to ask for clarification if wording is vague or easily misunderstood especially when working with new sellers.

 

Friday – Sunday (Day Off/Honeymoon!)

Total Income for this Week: $169.00
New Sellers Contacted: 0
Offers Accepted: 2 (well, see Thursday)
Total New Bids: 0

Week 11 – New Deal, New Inventory!

A lot of investors have been feeling the pinch from the lack of non-performing inventory in the first quarter. I know I was hard pressed to find deals in Jan. & Feb. I knew it was simply the timing for sellers. Inventory would be ramping up soon and this week was proof of that. I also know the more sellers I’m connecting with, the more inventory I will receive. Just the few connections I made this week have been solid leads that have sent me GREAT inventory already!

If there is one thing to focus your time and effort on in this business, it is making direct relationships with reputable sellers that have good inventory. I’m going to continue to focus my efforts on this, and allowing my VA’s to do the small or timely tasks (due diligence, social media marketing, accounting/book keeping).

Monday March 7th – Sunday March 13th, 2016

Monday (Day Off)

Tuesday (2 hours)

  1. Sent a new tape to my Virtual Assistants (VA’s) to scrub and complete preliminary due diligence on. It’s a large tape of over 100 assets – so having them scrub it and filter it to my buying criteria while I workout, sleep, relax, and cook is AWESOME! OUTSOURCING IS GREAT!
  2. Got a new deal under contract in Warren, OH! It looks like it should be a good opportunity and would give our JV partner a 16% +/- ROI in a year or less.  Screen Shot 2016-03-08 at 6.03.35 PM
  3. Emailed/Connected with 5 new potential sellers.

Wednesday (4 hours)

  1. Put in an offer on a note in GA & received a new tape of FL assets.
  2. Sent some needed info/docs to my new Bookkeeper & VA (currently setting everything up on Xero.com and it’s going wonderfully!)

Thursday (30 minutes)

  1. Looked at 2 new assets.

Friday (4 hours -So, I was bad. I worked on a day I’m trying to take off…but hey, I guess if deals are calling I’m not going to turn them away.)

  1. Recorded a new podcast for our website, NoteInvestingClub.com.
  2. Submitted 8 offers to 2 different sellers.
  3. Found out my OH deal is valued less than I expected, I’m having to open the negotiation table.
  4. Finished the FL Inventory & looked at another new tape (that was crap to be honest 0 not all tapes are considered equal).

Sunday (20 minutes)

  1. Finished this post.
  2. Read for 1 hour.
  3. Connected with 3 new sellers & started to receive inventory from 2 of them.

Total Income for this Week: $686.42
New Sellers Contacted: 8
Offers Accepted: 1
Total New Bids: 8