my fastlane plan

[^eagle^]

Sat down with motgage broker and went over loan app. Made adjustments.

Wrote letter explaining bankruptcy and foreclosure in 2002.

Questioned broker about 6% concession with 10% down. talked with countrywide and they said they had no such program. Broker insists that they do. Need to follow up on this tomorrow becasue I do not want this deal to fall apart at closing.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

Was able to clear writers block and write a few pages finally of my e ook.

All paperwork for the house is in brokers hands. Now the ball is all in the banks court.

Hurry up and wait.

Broker said his countrywide contact left countrywide and is now working for a local lender. He told me that they would do 6% seller concession with 10% down.

He also said that being local would expedite the process.

Started cleaning my current residence to get most of my deposit back.

Money is really tight. I may have to use a cash advance check to obtain enough money to close. Business has been slow so my paychecks from my job have reflected that. Don't want to do that but if I can save enough to close the bank wants two months PITI left in my account. So I can use the 1.87% checks my credit crad sends me every month to deposit in my account and then pay it off after closing. May cost me like $50 to do this but the ROI is worth it.

 

[^eagle^]

spent the past four days studying forex and I bought a bot that trades in my sleep. Bot seems to be performing well.

I started searching because i was tired of my savings sitting not doing anyhting so I thought about what would a fast laner do?

I read some and came up with this. However it looks like my closing will happen before I am able to try out this full time which is a good thing. It keeps me honest and slows down my renegade mustang behavior and pursuing DD. this could be the biggest leap of my life is this bot works on a consistent basis.

I am so glad I was led to this place

Thank you Andviv for bringin me here!:cheers:

I hope to crash beers with you. Make mine an Odouls amber with lime please!

 

[^eagle^]

Bot continues to make impressive gains.

Recieved approval for loan have to dig up a little more paper work but this looks like it will be a go.

E book has been put on the back burner to pursue FOREX for the time being. I can't devoter the time right now that the ebook needs

Looking at September to make the big leap.

Bot will go live weekend after house closes
Bot will pay off all debt except mortgage and build cash reserve of $10,000.
Practice trading on demo account
Obtain insurance for myself and daughter.
Fire employer
Finish E book project.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

Almost got all required paperwork into broker for closing of house. Just two more paystubs.

Live account is set up and funds will transfer in two to three days. will set up mini account and trade microlots to test live market starting next Sunday.

Bots new parameters are showing even more impressive gains. Up $1020 over last 8 hours. one was a short.

Practiced some customer service on a potential e book client. It was somone who wrote to me before and did not realize it til after the fact. I feel bad I did not recognize the name and treated him as a new arrival instead of an old friend. I hope I did not disappoint him too much.:nonod:

All in all a busy morning.

 

[^eagle^]

House appraisal came in at 105K (very conservative) 45k lower than expected.
Cost apraisal came in at 129.2k so a little bit better.

Gives me 33k in equity.
Should get just under 200%ROI

Hit a few snags in paperwork. Someone on my team is dragging their feet. My agent just sent me an extension for closing clause for me to sign. May not close til the 25th. I hope this doesnt get ugly.




Bot's losses are as large as gains and the draw down on two trades in the weeds will cause an equity stop loss on a live account so I am sticking to one trade at a time keeping it conservative and let the bot do its thing. Live account should be funded soon. Will start with microlots to test it. a penny a pip for one month.

Hold me to this! I could use some accountability here!


ebook is still on hold.

 

[fanocks2003]

For your critique,

My fastlane plan consists of a two pronged attack.

E book.
This has been on the drawing board for a while. I tried to launch it in one fashion last year but it did not have enough mass appeal so I scrapped the implementation but I knew it was a good idea.

After reading FHWW I saw how my idea could be implemented. I tested the market and found it was not only feasible but could be a golden opportunity if marketed correctly. The ebook is a launch pad for guys who are so stuck in the ratrace they can't even comprehend that there is another way. It's designed to create a great paradigm shift in thinking and has a lot of controversy and shock to create interest. I will reveal it shortly. (warning: it is adult in nature and may be offensive to some.) Other's may even think I am crazy Because of the subject matter. But it is designed to create shock and awe to gain attention.


Realestate

I am currently looking at REOs and offering banks their asking price if they alllow 6% concession to closing and prepaids. This will put all my money into equity. The houses I look at are 20% to 30% below market value. I do this by looking at comps in the retail market. My current bid is a house that just listed

3/2/1 block house $85000
Houses are selling $105,000 on average (this needs to be updated. My first house I presented here two months ago is in the same neighborhood.)

I am offering 80,0000 if they give me 6% towards closing and prepaids. The agent hasn't even had a chance to clean up after the people left and the house needs a lot of cleaning and cosmetics but seems stucturally sound. So I'm asking for 5000 off the asking in exchange for cleaning it up myself.

House is in a great neighboorhood of 150,000 to 200,000 homes. This particular house is older than some of the current models around it. It's exactly what i want in a home except it has no in ground pool. I have one of those big seasonal pools that i can use in my closet. My yard isn't big enough for it.

Future plans are to partner up with someone and buy real estate and buy smaller multi units and SFRs on my own.

The payments on this house will be $100 more than my current rent.

I will leverage the equity on my personal residence to buy the next property.


exit strategy from this home is lease option or rental if the numbers work but I intend on being in this home for some time. at least three to five years. and its anyones guess where the market will be by then.

Anyway by the end of the year I intend to have the ebook in full swing and be looking for investment properties. I'm not sur ehow I am going to use the ebook money yet because I do not understand all the tax laws associated with this type of business.

JB enterprises LLC will be the name of the e book company.

Now I have to go to Diane K to figure out this trust sandwich thing for my realestate ventures.

That's all I got at this point.

There is a miles difference between Ebooks and RE. RE is very much numbers as I understand it. Ebooks and the sale of it is more about promoting. In short:

RE - numbers and no real need to deal with feelings, but it requires a detailed mindset.
Ebooks - feelings and how people perceive your work.

What do you feel is the most natural thing to do with the two of those? If you had to chose only one of those two choices above what would you say would be the most natural choice for you (don't second guess just take the choice that comes as the easiest and most fun for you)? The answer is probably the best aim for you. Doing something, just because everyone else is doing it is a big problem to everyones success.

Even if I love architecture (wanted to be an architect when I was younger. I sat several hours drawing buildings and doing building plans in an amature way), I would not want to deal with that day to day (I mean: investing in real estate). I would hire someone to do that for me so I could dream up new crazy ideas/ventures (more fun).

What is most fun for you is where you will actually contribute with your best value. There is a saying: "Be true to yourself".

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

There is a miles difference between Ebooks and RE. RE is very much numbers as I understand it. Ebooks and the sale of it is more about promoting. In short:

RE - numbers and no real need to deal with feelings, but it requires a detailed mindset.
Ebooks - feelings and how people perceive your work.

What do you feel is the most natural thing to do with the two of those? If you had to chose only one of those two choices above what would you say would be the most natural choice for you (don't second guess just take the choice that comes as the easiest and most fun for you)? The answer is probably the best aim for you. Doing something, just because everyone else is doing it is a big problem to everyones success.

Even if I love architecture (wanted to be an architect when I was younger. I sat several hours drawing buildings and doing building plans in an amature way), I would not want to deal with that day to day (I mean: investing in real estate). I would hire someone to do that for me so I could dream up new crazy ideas/ventures (more fun).

What is most fun for you is where you will actually contribute with your best value. There is a saying: "Be true to yourself".

Honestly now that I am studying FOREX , it is the one thing I would enjoy doing more than anything else if I just had to pick one.

The real estate is what I know most about but I'm getting up to speed rather quickly with FOREX. The book is and its off shoots are just a compilation of what i have learned. It is my contribution to the world so It is very near to my heart.

I like real estate but do not love it. If I were to get in to it I would go for high end flips. I have had too many bad experiences in rentals.

So in priority

1. FOREX (I enjoy numbers and independence)
2. E book (Getting paid for giving back)
3. Real estate ( Having a nice personal residence and making deals)

 

[^eagle^]

All paerwork is in to title company. including addendum stating I will not pay for not closing on the 11th.

Snuck into property ( i have combo to lock box) and cleaned out refrigerator and stove. swept entire house and garage. will do some more today. Looks like we will close on Friday but i going to push for an earlier date. But then again i can save some more on interest if I wait.

Made a total of 31USD on live account this week. currently floating a 29USD loss but alligator indicator is showing a possible mega uptrend forming on the 4H chart after this stagnate period. Shows possiblity of finally breaking through 1.60xx.

went onto other forum targeting my Niche for e book. Posted some well thought out replies to topics with my website link in signature.

went onto 401k website and found out I cannot transfer it to currencies but can transfer it to self directed stocks. Not sure If I am ready to sift through a bunch of stocks. Will have to wait until i am settled in to new house.

 

[^eagle^]

:chatter::chatter:Close on Property today! Need to bring 2000USD LESS to the table than anticipated!

FOREX? Not so good. Tried out new software and used it improperly resulting in a 75USD loss. Not blown out but enough to make me stop and analyze what i'm doing wrong. I think i know now. Will practice paper trading again for a few weeks and let bot do it its thing. Euro and pound tanked against the dollar. Need better understanding of fundies. Pulling out of FOREX next week for NFP. Have bot that came with FAP that is designed exclusively for NFP. but I think I need to be present to work it. MAy not pan out.

Too busy getting ready for closing for e book right now. Then I gotta move by 7/31! Need lotsa boxes. MOLD killer and tool belt.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

House Closed!:icon_fU::icon_super::coolgleamA::fastlane:wned::smxG::smxF:Got one week to move so I will be posting when i can.

Figured out my stop loss was too small on new software. made it bigger and finally got 50 pips. Freeware expires but the template still works. the alert just doesnt tell you what currency or what direction but the template does. Software got five stars on Forex peace army so I counting on it to be good. Just cant monkey with it.

Will stick to optimized pair and time frame and continue.

added three more people to e book interest list WITHOUT adwords. Organic traffic.

 

[andviv]

Congrats on closing on your home. Pics?

 

[^eagle^]

Congrats on closing on your home. Pics?

I'll put out pics as soon as I can but I may not internet access for a while. Have to transfer utilities so I may have a lag of no internet.

I have 1/3 of the furniture moved yesterday. Hope to have everything out today so I can begin cleaning and get my deposit back.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

All moved in and almost done unpacking.

This place cleaned up real nice. Have pics up soon as I find my #%^^$^&&USB cable formy camera.

Beginning to recover losses from big loss on Forex created by following the herd instead of smart money management.

E book is still on back burner. Once I'm settled in I can put more focus on that.:yourock:

 

[^eagle^]

Forgot to share my pics. :coffee:

Home sweet Home

Backyard paradise in the making

Updated furniture since this pic.

 

[^eagle^]

Small but functional kitchen

Desktop crashed on me! Now using laptop with notebook and desktop monitors for tradestation

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[^eagle^]

Made a total of 31USD on live account this week. currently floating a 29USD loss but alligator indicator is showing a possible mega uptrend forming on the 4H chart after this stagnate period. Shows possiblity of finally breaking through 1.60xx.

If only I knew then what I know now

 

[andviv]

If only I knew then what I know now

Which is???

Nice pics, BTW. You have come long ways since you started here in the forum, congrats.

 

[^eagle^]

Which is???

Nice pics, BTW. You have come long ways since you started here in the forum, congrats.

After the eur/usd hit 1.60 it crashed down to 1.23 within a few weeks. I caught it at 1.49 but was too scared to ride it down. Could have easily quadrupled my account or more. Hindsight is 20/20.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[andviv]

So why didn't you? Scared? What were you thinking at the time? Why did you take that decision? Understanding what was in your mind when you made a decision is a great learning tool (in project management we do this as part of the reviews AFTER the project or a major section of it has been closed, in the Lessons Learned Meeting)

 

[^eagle^]

So why didn't you? Scared? What were you thinking at the time? Why did you take that decision? Understanding what was in your mind when you made a decision is a great learning tool (in project management we do this as part of the reviews AFTER the project or a major section of it has been closed, in the Lessons Learned Meeting)

Much of it was due to inexperience. I was using a robot to trade for me and I was new to trading currencies. In forex, if you pick a bad trade you can lose your money very quickly. I did not have an understanding of what was fundamentally driving the market. Technically I could see it because of my advanced math background but I still had a lot to learn. Still do but I am getting much better at it.

The fundamentalists like randall099 saw this coming. As a technical analyst it was harder to spot.

Looks like a small retrace and continuation. Gas was over $4 a gallon in the US at this time. Business as usual for the e/u but look what happened when the oil bubble popped!

What goes up must come down. Each bar represents one week of trading. Trillions of dollars were made and lost during those weeks. It was the biggest drop of the E/u since its inception. Over 4000 pips (thats one onehundreth of a penny). A pip may not seem like much but when you leverage it buy trading millions the profits add up quickly. But so do the losses if you trade in the wrong direction.