Nov 5th: Don’t You Remember …

It’s Guy Fawkes day. It’s a good time to reflect that daily survival should be celebrated. Are you still on your path to real estate wealth? Celebrate it. Contrary to contemporary beliefs (V for Vendetta) Guy Fawkes day is a National Celebration in Britain; the King James I, survived an assassination attempt. Every day in our “path to real estate wealth” we run into rooms filled with gunpowder ready to blow us up, or another attempt to kill our dreams, or another plot to disrupt our plans. Celebrate your small victories today and remember where you are going.

Don’t you Remember,guy_fawkes
The Fifth of November,
‘Twas Gunpowder Treason Day,
I let off my gun,
And made’em all run.
And Stole all their Bonfire away.

So let’s get to a review of yesterday:

  1. Fix bolts in the toilet to stop the leak at Hopkins
  2. YES! Done! That toilet does not leak anymore!

  3. Install the Toilet Kit at the same time
  4. Nope. I actually forgot that I was going to do this. I was so focused on getting stuff done that have been on the list for so long, that I just missed this one.

  5. Finish the last 2 tiles in the Master bedroom
  6. Once I got to the apartment I realized I wanted to finish the paint/toilet before put the tiles in. So another day and I’ve failed to accomplish this item.

  7. Finish Trim
  8. Hrm, I did not get to the trim, but I did carry out other painting tasks today.

  9. Paint 1/2 of Master Bathroom
  10. Ha! Killed this one, I painted the whole thing! Killed it. I also got the second bathroom done too! Killed it!

  11. Email “Apartment Guy” back and let him know where I am at
  12. Done and done.

  13. Email questions to prospective Property Manager
  14. I thought I did, but it seems that the email bounced back on me. I didn’t catch it until late last night.

  15. Meeting with “Haole” & “The Teacher”
  16. Starbucks for about 2hrs. Well just short of that. It was a great time and the conversation stretched from Mastermind Groups, Lease Options, to Creative Asset Protection. Those are two smart guys. I know I’m a smart guy, but sometimes I feel like I say some stupid things. It’s a matter of my mind not being a very organized place. I think I need to work on some mental exercises. I say things that I think mean something else. For instance I stated the LLC was an S-Corp (Which it is not!) It’s a 1065 taxable entity! That a huge mistake.

  17. Super8 REIA Meeting
  18. Usually this meeting is a waste of time for me. And while the organizer is animated and helpful, the meeting is the same thing every time. If I were to stay in Vegas I would not continue to attend these meetings. It’s about ways to find deals (for an hr) this week was “Vacant Properties” which, admittedly was new. The second half was once again about Land Trusts. Every. Meeting. Land. Trusts. But regardless of that someone who I met before at another REIA meeting was there. I’ll call him “Le Flipper”. He’s got deal flow, and has 2 properties in his pipeline! A Rarity! So I made sure to connect with him. One of the Las Vegas L/O experts was there last night. It was a great networking event

Boy I got some Rehab work done, and got some quality networking in. It was a pretty good day if I do say so myself. I love days like that where you feel accomplished. An offer on Zavala also came back alive at $183,500, and we handled some questions on Hopkins from an interested buyer. They maybe a looky-loo or a newbie. They sent emails to our Realtor, who passed them onto us that went like this:

“I see the annual tax is about $1000, property insurance is $1200. Do you know if there is any utility (water) that’s paid by the owner?” – Um, yes. Sewer, Garbage, and water. It should have been in the pro-forma/listing

Multi-Family Information
•# of Units (Total): 4
•# of 2 Bedroom Units (Unfurnished): 4
•Average 2 Bedroom Sq. Ft.: 923
•# of 2 Bedroom, 2 Bath Units: 4
•Vacancy: 5.0
•Cost per Unit: $35,000
•Utilities Fee: $996 <-------------------------------------------------------------- Look at that! Woo, there it is! •Trash Fee: $15 <-------------------------------------------------------------- Hrm, Realtor mistake there. Utility Information •Public Water •Separate Electric Meter, Separate Gas Meter, Separate Water Meter •Public Sewer •Water Included <-------------------------------------------------------------- Look at that! Woo, there it is!

Then there was a question about insurance. Let me tell you, we pay a lot for insurance to protect our assets. Each property is insured for a lot of money, we carry a lot of insurance. I think we have Umbrella Protection on top of the normal Homeowners insurance, and then we carry Umbrella Insurance on top of everything for the LLC. So it seemed very newbish questions.

Alright, this is turning into an exhaustive post! Let’s wrap up and look at todays *drum-roll please* TO-DO list:

  1. Master Bathroom Vinyl
  2. Riiiiiiight

  3. Paint the Trim
  4. Second coat of paint/Touch up both bathrooms
  5. Seal the grout, both bathrooms
  6. Second coat of paint/Touch Up the rest of the Apt
  7. Paint the Kitchen
  8. Tile the Washer/Dryer area
  9. The Toilet & Toilet Seats
  10. Email “Kacy” – Up and coming wholesaler/Lease Optioner meet at Super8 last night
  11. Email “Mobile Home Princess” whom I met last night at the Super8
  12. Email “Le Flipper” and make contact.

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