I am ready for the weekend!

What a busy week in the land of California real estate investing.  I closed on three purchase escrows this week alone and put two more under contract.  If you’re counting that should make 5 purchases for January.  So we are getting a great start to our 2010 goals.

Three of the houses are going to be rentals and two are flips.  One of the two flips I only have a piece of as I brought in an equity partner.

I was hoping to have House #17 and House #18 sold this week, but it looks like we are going to need a couple extra days.  We got loan docs signed on both deals, we are just waiting for the funding conditions to be met and the lenders to send their money in.  The profit on both these deals is quite good, we bought the houses cheap and prices have gone up about 10% since our purchase.

A Motivation Tip –
I was at a lunch meeting with a local extremely successful landlord earlier this week.  We where sharing our goals for the year and some ideas.  He is very visual and said he didn’t something different this year.  He wrote himself a check for $1,000,000 and put it on the front page of his goal book.  He said it will bounce but it is a motivation that one day he wants to be able to cash it.  Taking his advice I now have a $1,000,000 taped to my office wall, near my desk.  Every time I am punching away at they keys it can stare me in the face until one day I can cash it!!

That being said, I don’t know how many people read this blog regularly, but you should take a minute to post your 2010 goals on the bottom of this page so we can hold each other accountable.  You can see my 2010 goals here, and if I don’t make them you better hold me accountable!

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9 Responses to “ I am ready for the weekend! ”

  1. Mike Z says:

    Purchase 10 Cash Flow Rentals (1 Down 9 to go)

  2. qknic says:

    My goals for 2010-
    Purchase and rehab 2 properties @ 100% return on investment.
    Build a spec home in a high end community.

    1 house purchased and rehabed ready for buyer, 1 house purchased ready to start rehab!
    hold me to my goals, Im a lone wolf out here!

  3. BJ Fitzgerald says:

    Purchase my first property. I hope to have more than one but I need to take that first step. Last year several “excuses” held me back: work, wedding, etc. I plan to have NO EXCUSES when I look back a year from now…

  4. stephen j. moore says:

    I plan to wholesale at least 10 properties,hopefully more and get 2-3 rehabs or flips done as well

  5. Steve says:

    Mike Z –
    Great goals, not many blog posts lately??? How is the fund raising coming?

    qknic –
    Welcome to BuildBankroll. We are glad to have you! Where are you from? How are you finding your deals?

    Good luck with your goals, I will hold you to them.

    BJ –
    No excuses!! What did you do last week to make the next step towards buying properties? How many properties did you look at? If you don’t look at any deals you won’t buy any.

    Stephen –
    Good luck! What is holding you back from getting started?

  6. qknic says:

    Thanks, I love this blog. Nice to see someone that thinks like I do.
    Im from good ol New Mexico. Albuquerque to be exact. I spend several hours a week trolling the mls and running numbers. I also have a few REO realtors that treat me right.
    Thank you. Good luck to you too!

  7. BJ says:

    I didnt look at any properties physically but I did go through the several dozens a realtor forwarded to my email. I filled out two financing pre-approval packets for a wholesaler and hard money lender also. No Excuses, but I am making sure I have financing set up for when the right house comes along.

  8. Jennifer says:

    two goals:
    1) complete 4 rehabs in 2010. We have purchased one and are working on it now. Should hit the market by February 20th.
    2) have plans done and permits ready to build our own home! We have gotten as far as interviewing architects – now we need to pick one and just go for it! We have not done much as we bought the location in March 2009….Good Luck to everyone!!!

  9. Jennifer says:

    make that 3 goals in 2010…..
    3) get my real estate license. I have completed/passed 2 of the 3 courses and then I can apply to take the test!

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