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Fun In The Sun Part 3

Updated on May 20, 2011

1:1 Buying Tour – San Diego Day 3

3 down, 11 to go! Bob Leonetti called me at 7:40 am and asked if he woke me. I’d been up since 6:30 am working. Thank goodness it was a phone call and not a video link, else I would be pulling a “Judy Jetson” to hide my severe bed head and PJs.

I met up with Bob, Roland and Scott at the office to debrief about the past two days activities. Time to get busy! 

I received another REO batch from one of the real estate agents we are working with. Wasn’t sure we were going to be able to work with one another at first. This is the agent Scott and I met on Day 1 at the local real estate seminar she and her husband were hosting. Vikki is definitely a traditional real estate agent, and during one of our several phone calls she told me lenders and homeowners would not accept low offers, and we would all be wasting our time following this path. Scott laughed as I told her I meant no disrespect and completely disagreed with her. We’ve done these deals all over the country!

I just about wrote her off, then she called back and told me she may have been wrong. She found us some good deals, including a few potentially high equity and/or free & clear prospects! Only need a couple of these to make a really great day happen! 

Followed up on responses to my email blast. One agent, bless her heart, just couldn’t get it into her head what our buying criteria was. I have other agents working on sending me their problem properties, and anything they think is interesting. 

I called on Craigslist FSBO ads in the San Diego area. Found one company that appeared to be an investor. Often investors will advertise their properties on Craigslist. I do. It’s a great source to find sellers and buyers.

This particular investor turned out to be a company. The ad was for a non-specific property, and they asked me what zip code I was calling for. I explained I was part of an investor team in San Diego to buy area properties. They hung up on me. This got me curious. I googled them and came up with numerous fraud warnings. Their business plan appears to be collecting a processing fee up front to give you owner financing home leads. Many of their alleged customers report being charged and never receiving any leads. Remember the caveat – Buyer Beware. This is true in any advertising medium. 

Scott and I went to Chicago Title to meet with Fred Eckert, aka Superman. What’s with all the nicknames out here? We met Fred on Day 1 at the real estate seminar. He will be a great title resource for us. Check out my interview with Fred online. 

I touched base with an associate in the Long Beach area that I met a few years back at a seminar. Marie is a real estate and mortgage broker. She has a successful short sales business going, so I gave her my buying criteria to see if she has anything in the works that might make us both some money. Networking is a good thing. 

We spent some time designing a marketing flyer for use tomorrow morning. You’ll have to wait to hear about this one. I love coloring outside the lines! 

We have a bunch of good prospects to look at, and will get busy over the next two days evaluating and making offers. 30 deals is our goal. Check out the San Diego Profit Mapping to see how we planned this out. See you tomorrow!

Up, up and away!
Up, up and away!
Lorena and Fred
Lorena and Fred

Day 3 Wrap


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