The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Sunday, March 06, 2005

Quote of the day.

Here's an awesome quote. I think I read this from Steve's REI Blog

"Failure cannot cope with persistence"

Persistence has gotten me many things in life. Right now, I just want to buy another house! I went out this afternoon to do more door knocking and I distributed bandit signs as well.

Bandit Signs: Half of them went on telephone poles. This is actually the first time I've ever done this. The signs look much better at 7' from the ground! I hope this increases the time before they get ripped off.. Its a necessary evil those bandit signs and I really should take advantage of it since my town tolerates them. I've been throwing signs out for over a year now and only one part of town has ever called me. I may get some calls from the telephone company, I'll just have to see.

I threw about 15 signs out in strategic locations. Actually, that's not very many, huh? I think its time to hire someone to do this. My cell has been dead for weeks.. Its just pathetic!

More door knocking:

Door knocking #9 This house had a locked fence with a mean looking dog in the front. Should I go for it? Hell no! I left a door hanger off the mail box. Hopefully they pick it up this evening since its raining today. Mental note (do a reverse lookup and try and call)

Door knocking #10 Nice gal, she is going to pay pay off the arrears and get the loan current again. As always, left business card.. She said she's still going to cry aobut the situation. :-(

Door knocking #11 This was the girl friend of the guy that was in foreclosure. He was not there unfortuantely, she said however , that an another investor said their only option was to sell the house! He is currently talking to a friend for advice. I was trying to be real nice and let her know that I had a list of options that she could explore before selling. Hopefully, he'll call me back. They usually don't.. And as always, I forgot to ask for her number!! I've done this like 5 times in a row. I'll learn the hard way!

Door knocking #12 Here it is.. This is lady that is trying to save her house, but probably won't be able to.. She just paid an attorney $900 dollars and she doesn't know where she stays on the whole process.. After talking with her, I don't think she will be able to make payments on "reorganizing" the debt. Her daughter is saying sell the house. I think she should sell, because she has a lot of equity and she could start over.

She owes 50K and the house is worth over 120k. Since she has so much equity, I will probably cash her out with a loan and she can walk away with quite of bit of cash. If I could buy it at a decent price, than I'll have several exit options.

This property is special because the lot is huge. She said that her daughter had a double wide on the lot (before the banks took it away from them). So I could split the lot and build a new house. I could make a lot of money on this one!

I will find out soon if she wants to sell and how much she needs to move. Hopefully, we can work something out! Stay tuned!

Good investing..
|| Bginvestor, 4:03 PM

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