Action Takers - What Are You Up To?

[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.

 

[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.

 

[lightning]

After almost a year of searching, my latest "move" towards the fast lane is that I am about to purchase an investment property at well under market value (My FIRST!) closing on April 18th). : ) The property is a nice 3-bedroom 1 1/2 bathroom townhouse in a nice neighborhood, and my renters are already lined up waiting for me to close. I am "hoping" that in 2-3 years if I decide to sell it, I can clear 40-60k and walk away with a nice chunk of change to actually start a business.

Other then that, I am proud to say I have continued to keep my "bad" debt non-existant (the ONLY things I owe money on are my primary residence (mortgage), and my student loans), my credit score high (762), and my lines of credit wiiiiiiiiiide open.

I have also registered quite a few domain names in the past few months, and continue to read anything I can find about web-design, programming, and E-biz any chance I can get.

Lastly, I started becoming more active on this forum, instead of lurking like I had been the last 8 months. Im not in the fast lane yet, but I hope Im on the right track!!!

 

[tchandy]

It's been a busy year for me but unfortunately not in the real estate or stock market though those areas are doing ok for me. So my time on the fast lane to millions has limited me to weekly checks and very little if any contributions to this great site. This year I took command of a company in the Army, that I established practically from scratch. I stood up the company laying the foundation for training of 70 Soldiers, purchasing millions of dollars of equipment, establishing an administrative foundation to keep the company working day in and day out, trained the Soldiers to prepare for deployment, sent over 40 Soldiers to over 15 schools throughout the US and a foreign country to continue their professional devlopment, established a charity 5 K run that raised over $2000, all this while ensuring that Soldiers and their family are taken care of. Additonally, I took on two roles on two different websites providing good to know information for other personnel in my field and was recently selected as a commander for the month of July. I also had the opportunity to work with Soldiers who for unknown reasons do the wrong thing and have apply disciplinary action for their misdeeds. On a positive note, I have kept in the highest percentage of Soldiers in my organization as compared to other units that are similar to mine. Could be my attitude to treat everyone the way they should be treated and to treat them as they should be. Very shortly I will take my company overseas to continue the ongoing fight and help restore some type of democracy in the foreign country. Lastly all of my details will be included in a book that I base off of my journal on this daily adventure in which I get more work down in the first few hours of the day than when some people are still asleep. My intent is to have it published in about two years when my time in this job ends. Retirement is still a few years away but all of the insights I learn only prepare me for my other adventure on the fastlane.

 

[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

 

[MJ DeMarco]

Action Takers - What are you up too?

I started this forum!

 

[MJ DeMarco]

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

 

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[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/

 

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[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.

 

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[imirza]

Things I have done since the Fastlane Meetup

• Made an offer on a motel ( $1.8 mil purchase. Owner will carryback $1 mil). Still in the negotiation process. Owner is willing to provide cashback and I can get 85% financing (SBA). Currently doing due diligence.
• Made an offer on an SFR that is 30% below comps in neighbourhood. Trying to get financing via a program that will use appraised value as price of property and hence loan will be based on that price rather then purchase price.
• Attended my first real estate auction. Surprisingly there were a lot of good deals. Stuff being picked up at 30-50% below FMV. Someone picked up a $4.1 million Scottdale mansion for $1.8 mil.
• Analysed a deal for the purchase of 100 + condos in a downtown Phoenix property. Developer is eager to sell. I decided even at under 60% of market value these condos were still too pricey. And vacancy is pretty high.
• Made an investment in a downtown Phoenix hotel project. Experienced development group and a good return on investment.
• Received an unexpected $804 check in the mail from an employer than I left nearly 3 years back. I love receiving checks in the mail. :love1:
• Best advice I got the last 2 weeks from a magazine . When attempting to accomplish a goal/task and you hit a wall ask yourself "What is the next logical step I have to take in order to accomplish the task at hand ? "

 

[Legacy Dad]

Researching Land
Talking With Local Business Owners
Getting estimates
Looking at Financing options
Looking at LLC options
Emailing Around the World daily

Lance

 

[kimberland]

Hmm . . .
Could buying REITs while the market is collapsing have anything to do w/this?

<---------- Cdn

Our REITs have little to no exposure to subprime
(unlike our banks)
yet the prices reflect U.S. style exposure.
Yields alone are 14% plus
with low pay out ratios.
Some are trading at or below book value.

Canada didn't really have the bump up of RE prices
you folks down in the States had.
Whether it is because of lack of subprime or mortgage deductability or...
who knows.

Could our REITs drop more?
I guess.
Anything is possible.
Play at your own risk.

 

[Russ H]

Yankees-

Not sure if I ever mentioned in on these forums, but I did a pretty pathetic job on the PSAT.

Studied for my first SATs, and got a much better score.

Since I was gunning for a special program that only accepted 50 students worldwide, I studied even harder and took them again (cramming so much that I was memorizing a couple of vocab words as we were sitting down and waiting for the test to begin!).

My scores on the PSAT were the equiv of around 1035 (out of 1600 possible) for the SAT.

My first SAT was, I think, around 600 verbal and 680 math (1280 combined, out of 1600 possible)

My second SAT was 700 verbal and 770 math, and I got the equiv of 800 math on the ACT.

(this was back in the day when there was no writing portion, just math and verbal, so two parts, 800 ea).

So it really does pay to study for these things-- provided you study the right stuff. I did it w/books and took a lot of practice exams. The exams really helped reduce my overall level of anxiety-- I learned different tactics that worked better for me.

-Russ H.

 

[kimberland]

Thanks guys!

After coming to terms with not having kids,
it has been a struggle,
knowing we're building with no one to pass it to.
It killed our drive.
Dead.

Sure I give to charity
but it doesn't have the same feel to it.
It feels like I'm sending money into the ether.
There wasn't any satisfaction.
I couldn't point to something
and say 'there, I made someone's life better.'

Then an Uncle got cancer
and needed funds for the experimental treatment.
All he needed was $22,000
but that amount was large enough,
no one could fantom raising it
(people are focused on raising their kids).

So the hubby and I stepped up to the plate.
We told a concerned Auntie
we'd cover any shortfall.
Turns out we only have to cover $8,000.
$8,000 to give a father, grandfather a chance at life.
Even if it fails,
we've given him hope and the knowledge that people care.

It was one of the most satisfying things we've ever done.

 

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[Edge]

The VIX (volitility index) broke 40 yesterday, so i've been taking all the action I can stand.

I've put every last dime in my brokerage account, my ROTH, and my wife's ROTH to work over the past week. I spent this morning searching through all the drawers of my desk looking for all the credit card cash advance checks I could find. Then I wrote checks to myself and deposited them in my checking account. Tomorrow i'll be able to transfer that from my checking account to my brokerage account and the fun continues.

I'm leveraged to the hilt, moreso than any other time in my life. I'll either make or lose a lot of money by options expiration (17 days). My job is simply to keep the probabilities in my favor and/or cut losses until then.

 

[SteveO]

you'll have to file a tax return for the year you start the entity whether its active or not.

Are you certain this is true?

 

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[AroundTheWorld]

So, we had no takers for January.

What about February? What will you get done?

Here is Mine:

FEBRUARY

Refine Pitch - Present to 10 more non-profits
Continue to trade / learn.
Finish Budget and Targets for 09

 

[BeingChewsie]

check, check, and check.

So. . . now . . .

some internet marketing for motel
some videos for future promotions
start knitting a sweater (my first one!!)
revise one chapter of self storage book

2 more weeks to get it done . . . can I do it?

Of course you can!

I did my taxes, got my apps in for the grad program that starts March 2nd, and have lost 6lbs so far this month.

Robert picked up a new teaching gig on top of his regular one and so we are out of the fire for now.
His immediate goal is to pick up another one.

18 months I can start teaching on the university level from home like he does....that is my next big goal, get through the program, so I can teach from home.

Goal the next two weeks:
Spend only an additional $20 dollars out of pocket for Groceries for the month and see if I can top $155 in food for that price.
So far I have spent $19.12 for $153.55 worth of groceries so it is doable.
Takes lots of pics of what I get and blog at least 3 times a week about it.(That is the hard part for me,)
Lose at least 8 more pounds...I'm on a very strict low calorie/low carb plan so that should be doable too.

Sue

 

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[tchandy]

Getting ready to redeploy from Iraq but made very good use of my time to work on my side ventures.

- In September/October, bought a domain and working with Kerry (Wildambitions) to go online Jan 20, 2010 with a forum. More to follow on this on a future post as I continue to build the site.

- Identified my target area for my next real estate venture. Working with a realtor and lawyer and prepared to make a few deals on fourplexes.

- Change out of command on Nov 18, 23 months in command total. I need a break.

- Spend some well deserved family time.

Tom

 

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[Bilgefisher]

Getting ready to redeploy from Iraq but made very good use of my time to work on my side ventures.

- In September/October, bought a domain and working with Kerry (Wildambitions) to go online Jan 20, 2010 with a forum. More to follow on this on a future post as I continue to build the site.

- Identified my target area for my next real estate venture. Working with a realtor and lawyer and prepared to make a few deals on fourplexes.

- Change out of command on Nov 18, 23 months in command total. I need a break.

- Spend some well deserved family time.

Tom

Congrats on the successful command. Not easy and few outside the military even have a clue what that means. Stay safe in the sandbox.

 

[LagunaLauren]

I took Bilgefisher's kick in the a$$ to us all to quit talking so much about success and start taking more action to achieve it to heart.

GOAL: Buy $30 Million more in mid-sized apartment buildings in 2010.

SO FAR:
-I looked up a ton of mid-sized apartment buildings for sale and crunched preliminary numbers. (which are usually BS. "ProForma" means "Pie-in-the-sky, Alice in Wonderland" numbers. 12% cap rate my a$$...)
-I contacted more top Commercial RE Brokers to get more info on their listings (& P&L and Rent Rolls, etc. Oh yeah, the REAL numbers)
-I contacted more mortgage brokers for commercial loans to have more options than those I have used in past & to find out current LTV ratios and rates, etc.
-I flew to Texas and saw a bunch of apartment buildings.
-Due to lack of inventory, I am expanding my search of areas and am also proactively contacting investor and owner associations for other potential leads for buildings for sale.

To quote Trump "Think Big and Kick a$$". Best wishes to all on your success.

 

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[wildambitions]

January Accomplishments:
Business and Financial -
Focused on Defining my niche
Networked and created additional area of presence on the internet
Continued to develop my list follow-up plan
Created enough income to have the business pay for the B&P Meet-up expenses
Built or rebuilt 4 major sites
Added 4 new long term clients

Physical and Mental Health -
Lost 4.5 pounds
Am eating more healthy
Increased activity (not enough to call it exercise, though)

Family -
Kept my weekends available to my family.
Was also available to my family on weekdays that they were home.
Played fetch with my dogs daily until THEY quit.

February Goals:
Business and Financial -
Keep Networking
Establish some consistent affiliate income
Rebuild or Build at least 6 sites
Get 5 new clients that add additional recurring service accounts

Physical and Mental Health -
Drink at least 8 cups of water a day
Lose 5 pounds
Exercise daily

Family -
Enjoy our business/vacation to PHX
Celebrate our 15th Wedding anniversary
Continue to keep my weekends free for family
Get that date night going with my husband (still have not accomplished this one)

 

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[GlobalWealth]

Finished my taxes (oct 15th) just in time. Yes, it still hurts but I am able to walk without a limp now....

Just completed my first half Ironman this past weekend
-I didn't even own a bicycle until September and have never even done a 5k

Investment partnership up 23% YTD as of 9/30

Secured a few more investors for the investment partnership

Going to Zurich for an investment conference in 3 weeks

Working out a deal to host a fairly large international asset protection conference (details to come as it materializes)

Finalizing a deal with a partner for a new company

 

[AroundTheWorld]

January 2011

Bump for the action takers.... what are you up to?

January 2011

• Train new manager at Property Management Company
• Train manager at Self Storage Facility
• Balance the budget for the local youth soccer group
• Get the numbers from a competitor and put together an offer
• search for grants
• get a yellow fever shot

What will you get done this month?

 

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[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?

 

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[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.

: )

 

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[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.

 

[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