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..

Wednesday, March 16, 2005

Status of goals for week ending 3/18

It's been a good week. Here's the status of my goals from last week.

Actually, I put up at least 40 in my farming area. So far, all the signs I've placed on poles are still there. That's a miracle! If placed on the ground, I would expect them gone in a few days!! This has been a lesson's learned..

Done. Faxed 10 and sent 20 letters..

This has been interesting. I put up two signs asking for "Drivers wanted, putting up signs" I've received 5 calls and everybody is interested! I think giving them $10/hr is a great deal and people are very excited about it. I'm going to interview three this weekend. And get started. This is going to jump start my REI business.

Two of the three were sold. I looked at one with realtors #1. Nice guy, however, I can tell he's not a guy that has experience working with investors that fix and flip. After discussing my offer, he thought it was a complete low ball. He pointed out numbers to me and he thought would have worked, but neglected holding costs, selling commission, etc.. I will place a bid on this property, but not today. See below..

Realtor #2 is having problems getting access to the database to get this information? Is she pulling my leg? Who knows.

Done. This has been very interesting.. There's several levels of private money. There's national , big corporations, brokers that have connections with individuals, and people that will lend from their IRS or private account. I'm finding that rates and terms are very different for each. The best type of money lending is finding a doctor or attorney with money that is willing to make a good interest on their money. I'm going to give this broker a shot. So far, he is saying that he negotiating 9-11% for a 5-6 month loan. That's not bad. if I can get lined up with him this week, I will be placing a bid on the house. Stay tuned..

Called on several no bites..

Done.. I have a link to his blog. Basically, he gives some hardcore information for FREE. Thanks Mark!

|| Bginvestor, 11:28 AM

2 Comments:

Wow. You really have a great plan! I need to sit down and do the exact same thing - write a list of weekly goals, and at the end of the week review my work. Right now, though, I'm so caught-up on this one property I can't seem to do much else.

I also like your suggestion on putting bandit signs up. I've heard others say that pole signs have a longer 'life' expectancy than ground signs. Case-in-point is a local investor who put up a lot of ground signs this past weekend. The city decided this was the right time to mow, so ALL his signs were down in the next day or two. Conversely, I have seen several "Weight Patch" and "Trim Fitness" pole signs that have been in their same spot for weeks (or even months).

Also, do you find $10/hr for help is the best approach in your area? I remember when new bulders put their signs up in my area, they would charge the guy $1/sign. Not sure which would work out best in the long run.

Keep up the good work!!!
Blogger Steve, at 5:37 AM  
Steve,

Thanks for the advice.. I'll consider the $1 per sign!

Brian
Blogger Bginvestor, at 6:12 AM  

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