Action Takers - What Are You Up To?

[AroundTheWorld]

To "revive" one of my favorite threads...

It is August 1, 2007. All you action takers, what are you up to?

What got done in July?
What are August goals?

Also, I'm a little late, but we are just over half way through the year. What were your goals for the year, and how goes it?

 

[AroundTheWorld]

What happened in July

• Got a SFR rented. It was on the market for 6 months with VERY LITTLE interest. Decided to rent instead. We may do a land trust deal with these folks - which will increase cashflow.
  
• Set up some checks and balances for communications with the lessee's in the motel we acquired in June. So far so good on that deal, but we are pretty new to the game.... waiting for what might hit the fan....
  
• Applied for financing on phase III and IV of a Self-Storage facility. Should close next week.
  
• Ordered the kids curriculum and started prelim plans for upcoming year
  
• Bought chickens, keets, bunnies, planted a garden, and actually got it watered on a regular basis.

August...

• Close on land for another self-storage development
• Start Phase III on existing property
• Get commercial *house* leased out or sold
• Finalize curriculum plans for the year
• Keep the animals and plants alive
• Formulate a more concrete plan for internet biz idea

 

[kidgas]

I'm having a hard time remembering what happened in July...not much I think.

July...
SFR was emptied...had it painted and cleaned. Put ad in paper yesterday.
Opened optionsxpress account.
Applied for financing for land for a small strip mall with friend. Formed LLC and finalized operating agreement.
Shot 95 with accountant and above friend.
Went to Cedar Point with kids.

August...
Close on land Aug 10th.
Increase funding in optionsxpress. Plan on enough for portfolio margin by end of year.
Plan on renting above SFR.
Few more rounds of golf with goal of breaking 90. Usually play well for 15 or 16 holes. It's those random 2 holes that do me in.
Few days alone with wife.

 

[kimberland]

Well, right now I'm on a buying spree.
So many opps in paper, its crazy.
I'm scrambling a bit for cash.
Goodness, I love disruptions.

In July, I sold my first book to a publisher.
Breach Of Trust, a romance based in the world of venture capital,
will be out May 2008.
I finished my novella and sent it to my editorial service.
I received back the edits for my second book
and finished the first draft of my third.

In June, I got off my a$$ and
moved my new business development posts to my own blog
(giving Jscott a break, the dear man).
Suddenly I was paying monthly hosting costs,
costs that could be allocated over an unlimited number of sites.
So I started posting my travel tips (with pics) on one blog
and set up my book information on another.
Will be putting advertising on them eventually.
My "rule" is that hobbies have to pay for themselves
(eventually - the romance writing will take time to break even).

August is my last (thank goodness) month off writing
before snagging a contract gig
(going a bit squirrelly)
so I'm rushing to get the second novel to the publisher
and the third novel to the editorial service.
Gotta keep the pipeline full.

: )

 

[MJ DeMarco]

Action Takers - What are you up too?

I started this forum!

 

[australianinvestor]

I finished fitting out the first store in my chain. Preparing to stock it, staff it and open it (hopefully) within a week. Mentally preparing for running it and opening the second store at the same time. Also finishing my MBA (full time) which will be done in November. Also in the process of redesigning my whole life, and changing how I think about what I will do when I hit the fast lane.

Daniel.

 

[MJ DeMarco]

My main priority in the next week is to get this forum redesigned and off the "default" design setting.

 

[andviv]

Working on setting up a couple of LLCs for investments that should be closing late this month or early the next one.
Also, reading the book I've been summarizing in the RE section "The Millionaire Real Estate investor" (intent to keep posting mini-reviews about it here in the forum).

Next week have two meetings with advisers to review and verify the strategy for my next deal.
Also, two potential partners want to discuss my strategy and maybe bring money for the next deals.

 

[Yankees338]

July:

• Baseball! We made it to the state tournament (final four teams in the state) and lost. It was double elimination; we came in 3rd. We went 1-2. We lost the game I pitched to the team that eventually won the state and is currently 1-0 in regional play. Damn errors...
• Learning! My original goal was to begin investing in real estate. However, that's rather tough when you're 16 (although I believe there's someone around my age who owns some real estate on this forum). Instead, I just decided to continue reading and learning by whatever means available. Forums have been a great help!
• Relaxing! I have a break from school for awhile. I'm not one who subscribes to the "strive to do well in school" theory, but I do acknowledge that some things they have to offer can be of use. Regardless, I still don't feel it's the best use of time.

August:

• Lightbulb! While at my friend's house, his father, my friend, and I brought up the idea of an online store for his retail pet supply business. After discussing it for a little while, my friend and I decided it was well worth a shot. That's been my main focus for the past few days.
• Preparing! I've never started a real business before in my life (not surprising...again, I'm 16), but I'm getting ready to now! I've been thinking about this nonstop. I've been contacting website designers, brainstorming ideas for every aspect of the business, and preparing for our opening. I should be getting my computer back today, so I will then begin preparing some financial projections and I'll write out a full business plan.
• Opening!?!? Towards the end of the month, we'll see how far we've come with our business. If we feel that we're ready, we will open the doors and begin taking orders! If not, we will wait until we're ready. We're both new at this, but my friend and I are both confident in our idea. We feel it can really be a success. And if it's not? It will be one helluva learning experience for two 16 year olds.

 

[bflbob]

June, July and August

June

My son got married on June 15th. The following Monday we started excavation for his future home. We are doing most of the construction by ourselves, so this is quite an adventure. It is only a simple little 1280 SF ranch, but we're mainly making it up as we go. No formal plans, only working from some rough drawings.
:iamwithstupid:
:iagree:

July

At the beginning of the month, we've poured the footers, formed the walls, and poured the foundation. While we're working at this, my son is busy patching and painting his apartment in our 5-unit. He'll live there until the house is done.

Early in the month, shortly after handing out rent rate increases, we find that one of the other tenants has hung himself. That is two tenants dead in less than a year -- a 40% mortality rate! To be fair, the first tenant was 91 years old and had lived in the rental since 1958 (a REAL long-term tenant).

We continued working on the house -- putting the steel beam in, leveling the stone in the basement (in preparation for a concrete floor), putting down the joists and the subfloors. Every night and weekend seems to revolve around this.ullhair:

We have re-rented the 91-year-old's apartment at a 75% increase in rent! And at just about the end of the month, we re-rent the apartment of the gent who hung himself for a 34% increase, although we need to do a bit of work in it before the 9/1 move-in date.:3some:

August

Still kind of early here, but let's see...

I lost a lot in the recent stock market run-down, although today was my best day ever. I did get some good buys during the drop.

The bathroom is gutted in the 5-unit's 3rd floor apartment. New electric, walls, flooring and vanity going in real soon. Painting is done in all the other rooms. Kitchen needs cabinets and new sink. Possibly new carpeting too.

Built 3 of the 4 walls on my son's future house over the weekend. Out of lumber until tomorrow's delivery. Sewer, water, electric and gas should all be hooked up within the week -- weather pending. Hopefully the final wall and start of the roof this weekend too.

Put offers in on two houses over the past couple of days. Really low-balled, so I'm not expecting much, but we'll see.

Still busy moderating the RDPD site -- which takes a lot of time (thanks MJ!).:eusa_clap:


Here are some pics of the house building progress...http://brentonandkellyshouse.shutterfly.com/action/

 

[randallg99]

1. This has been a quiet year in my real estate investments. While offers were going out at lightning speed in the winter time, I did not get the pricing I was expecting. Perhaps too early to the party, but I will probably do another round of offers ... unless I ...

2. Sell some of my existing properties and 1031 them into a larger property ala SteveO style

3. I passed exam for real estate test, but am trying to determine where to hang the license. If I go the route of #2 above, I wont even bother hanging the license.

4. Restructured the business and are pursuing a new warehouse facility to accomodate more just-in-time inventory which will ultimately reduce expenses. Also doing more guerilla marketing and will test other types of marketing strategies.

5. Pursue a new retail business that I have been doing dd on. I would like to do this correctly and open minimum 4 locations within 2 or 3 years.

6. Participate more with local Chamber of Commerce Organizations (there are 3 of them) to get chummy with bankers and VCs now that money will be tightening for future endeavors

7. Continue learning about the liquidity crisis and compare the current difficulties with the 1998 LTCM crisis. This will help me understand when to buy non-agency debt again. (I did buy a lot of AHR yesterday and today as a start)

8. Re-negotiate a lease on one of my retail sites to get more favorable terms.

 

[tchandy]

Let's see...
May
-invested in two stocks and an international mutual fund in either May or June
-started providing assistance at my church youth group on Sundays
July
-my wife and I started selling Arbonne International Cosmetics
August
-read a book on stock investing to understand the market better as well how to invest
Now
-I am looking to buy a rental in either Philadelphia or San Antonio in the next few months
-Contacted realtor in Philly the other day and waiting for his call
-Reading the Intelligent Investor
-researching the next stock (s) to buy in next month or two
-planning to contact my realtor in Hawaii on recommended improvements on my rental; I want to upgrade the kitchen and air conditioners in the home but may upgrade gradually

Tom

 

[AroundTheWorld]

October is Coming!

All right action takers...

September is almost over... What have you accomplished?
October is next... what are your plans and goals?

 

[andviv]

Accomplishements:
- Completed the financing for an investment that will be closing by the end of this month.
- Ordered a book about the topic for my next project (man it is a big one)

Goals:
- Read the book and outline the plan for that project
- Get professional advice and start executing that plan.

 

[phlgirl]

I did not post my goals for September but would like to start for October. I have to admit, I love the public posting idea....takes it one step further than just writing them for my own eyes.

• Complete refinance process on 3 investment properties (CH, RS & 6)
• Purchase or have under agreement 2 additional investment properties
• Set up all properties as Assets in Quickbooks - be able to print full B/S out of QB
• Sign one new JV partner
• Interview at least 3 more banks and select one
• Gym/run at least 4 days per week
• Come up with a clever halloween costume

 

[kimberland]

The second novel is now at the publisher,
waiting for the thumbs up
(its good, if I do say so myself).

The novella is back from the editorial service.
She wasn't a fan... to put it lightly
so I have a LOT of edits to do.

Editing the third novel to go
to the editorial service by the end of September
(deadlines are essential
to prevented the dreaded editing death spiral).

I'm losing blogging partners
left, right, and center.
E has decided to focus on other areas
so I... sigh... took over the entire blog.
When I have a few minutes,
I'll have a look at my blog portfolio
and figure out what needs to be done.

Back at a very interesting contract gig.
Figuring out my promo plan for the book launch in May.
Buying stocks as they go on sale.
The usual.

: )

 

[AroundTheWorld]

October

We are rolling into another month and another quarter....

Did you meet September Goals?
What's up for October?

 

[AroundTheWorld]

I missed posting my September goals... but here is the conclusion on my August goals...

August...

• Close on land for another self-storage development
• Start Phase III on existing property
• Get commercial *house* leased out or sold
• Finalize curriculum plans for the year
• Keep the animals and plants alive
• Formulate a more concrete plan for internet biz idea

• Close on the Land. Check
• Start Phase III. Check
• Get commercial house leased or sold. Check
• Curriculum plans. Check
• Keep animals and plants alive. Well. Kind of. Lost some chickens to the neighbors dogs. Frustrating. On the other hand - we have managed to keep the baby bunnies alive.
• Internet biz idea. Slow going. It was put on the back burner due to all of the above... but it is moved to the front now.

So.... What's up for October?

• Put together a deal involving my MIL house, a Mexican Villa, and a car.
• Begin construction on the property we closed on
• Pull the sailboat out of the water
• Due Diligence on a property under contract
• Get web site up for internet biz

 

[bflbob]

Personal stuff...

We've been busy building a house for my son and his new bride.
http://brentonandkellyshouse.shutterfly.com/action/

We started construction (well...excavation) in mid-June.
Our goal for September was to get it enclosed, which we did.

By the end of October, we should have it sided, and the plumbing & electric in.
Additionally, we hope to have the insulation well underway by the end of the month.

For the most part, we're just doing this on the weekends now (too dark at night).
With temp electric soon, we'll be able to work most evenings again.

Our goal is to have the house finished so they can move in before the end of the year.
Maybe that will free up some time for other things.

Rental Property...

We'd hoped to have the rental property remodel done by the end of September, but...
...it isn't always best to try to do it yourself.

Lesson learned.

We hired some help to finish it starting this morning.
They got a ton done today, so we'll only miss by a few days.

We already have a tenant lined up to move in on completion, so the place will be fully rented.
It will also have about half of the building remodeled.
Hurrah!

New Investment...

I'll be making a formal offer on the 6-unit I've been looking at.
By the end of October, my goal is to have closed on the place.

 

[JesseO]

I've been re-invigorated and am working on getting a couple vacant units ready. Had a couple move outs and such..... Still working to create more value so we can sell when the price is right. Feels good to get things done, doesn't it? With that being said, I shouldn't even be on here, so I'll go get back to work!

 

[Runum]

Mine are:
Close a refi I have been working on since the first week of June.

Keep my current units rented. Do a little housekeeping on a couple of them.

Continue to pursue other RE investments. Looking for CF properties, possible foreclosures. I am in contact with my broker at least every other day.

Finish the remodeling on my own personal shop.

Continue to cruise this forum.

September's results:
I finally closed the refi.
I lost a tenant on one unit.
Closed on a foreclosure property last Friday.
Working on the exterior paint for the shop. I have the first coat on.

October's Goals:

Get my vacant unit cleaned up and rented.
Get my latest property acquistion rehabbed and rented.
Refi an investment property that has a balloon note.
Look for more buying opportunities.
Finish painting my shop.:cheers:

Greg

 

[yveskleinsky]

September's results:
- became significantly more organized at home and at work
- met with a bookkeeper
- attended one seminar
- re-read The Secret
- research 20 or so properties...decided to reign it in to only looking at multi-family cabins
- added a GREAT Realtor to our team, (as well as the GREAT bookkeeper) Yea!
- am meeting with the SBDC guy from another city (the local guy isn't helpful) tomorrow- who is also friggin awesome

October's Goals...still TBD. Will decide on those later today!

 

[bflbob]

October's Goals...still TBD. Will decide on those later today!

Hey! That's one goal for you already!

 

[reipro]

Hey all,

Here is one my biggest beefs with people. Please note this is just a general comment it is not directed at anyone! My response is to help you define what is ACTION! Please read my post under the Millionare section.

If you read what people are saying is action it is not action it is busy work. Many of these steps will not take you anywhere you have to go farther and dig deeper! Enough is never enough if you are not getting where you want to be.

A perfect example is I met with a realtor!

Ok my questions are:

Did you talk about any spefic deals?
If you did, did you go look at the deal or deals?
If "yes"
Did you make an offer on the deal? If "NO" then this is not action
Was the deal accepted, countered, declined?
If "accepted" this is action
If "countered" Did you make a counter offer or accept counter?
If "declined" Did you look at another deal or make another offer on this deal?

Please do not get me wrong here you have to do due dillegence on a deal, but that is not action! ACTION is taking actual steps to getting the deal acquired.

I hope this helps!

 

[andviv]

reipro, I half-agree with you here. "I met with a Realtor" has many meanings. for example, meeting with Realtors, mortgage brokers, etc is a great way of finding the current conditions of the market and understand what's going on. It is by networking how I've found my best deals and partnerships.

However I do agree that many of these activities may have no value if there is no real goal.

Also, I disagree with the statement about not making an offer not being action. Due diligence is action. Many times the best deal is the one that you don't complete. There was action, the deal was analyzed but it was not good enough so the investor does not go for it. Still, action was taken, in my opinion.