Blog
Oh! What a day
August 20, 2010 by Esi · 14 Comments
Today is one of those days where you get somewhat of a good news and then a bad news and it feels like things are not just working the way you want it to ….grrrrrr. I’m having one of those days right now and it doesn’t feel good to say the least. My daughter caught the bug and her doctor said she might have the stomach flu….my poor baby. I decided to take most of the day off to take care of her without all the distractions. I’ve offered her over 10 meals, fruits and snacks and ended up with a table full of untouched food because she does not have any appetite for food and it’s obvious she is not her usual very active, entertaining and vibrant little girl. I pray she feel better in the morning.
As if that was not enough for me to deal with, it seem like all my deals are in limbo. I have 7 houses under contract right now and I have buyers for all of them and some of them seem to have one issue or the other for different reasons that are threatening to hinder closing. One of them even almost fell apart because buyer tried to go around me to buy directly from seller after he found out how much I was making and it’s become a big mess. I’m too exhausted from wheelin’ and dealin’ all evening to make sure the deals don’t fall apart, I can’t even get into all the crap i had to deal with today at the risk of ranting and venting. I will just sleep it off and I know I will feel better in the morning. Though what comforts me from experience is that when I feel down and it seem like i’m at my wits end but I keep being persistent anyway, things always turn out better than I expect, so I’m just going to hang in there to see what surprise life has for me.
On a lighter note, last week I was interview by Kendall Matthews of KJAM Radio and he just posted it on his website. I’m very excited to share it with my blog readers HERE, it’s a 20 minute interview with lots of goodies and I did not hold back. You will also get to know more about me and how you can succeed in Real Estate Investing. I really enjoyed it and i’m sure you would too so grab a cup of coffee or your favorite snack and enjoy.
P.S: Speaking of coffee, my pal Shae Bynes of goodfaithinvesting.com also has an Enriched coffee and tea business and her and her husband have a contest going on right now with lots of give aways. If you have any good coffee recipes you would like to share head over to her page HERE and be a part of the contest and you might just win some of her delicious, healthy coffee and tea. She sent me some samples and it’s to die for…..yum! Hurry, contest ends on Monday.
Have a great weekend everyone.
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Michigan Wholesaling Property Investing with Esi Benedict
I really enjoyed this interview with Esi Benedict who made a u-turn from pre-med biology to become a stay at home mom, then recently turned into www.FlippingMom.com
You have to listen to her story of how she found her niche in wholesale real estate investing in Michigan. She has a very inspiring story, especially how she found her life’s goal while waiting in a hospital waiting room.
Conversation with Esi Benedict – KJAM Radio Show Notes:
- Background of how did you get into the Real Estate Marketing Industry.
- What do you do when your not working so hard?
- What Are the Biggest Mistakes Challenges and Frustrations
- Is Having Goals Really Important?
- 3 Important Questions To Ask Before Getting Into Real Estate Investing
- If You Could Go Back and Give Career Advice To Your Younger Self What Would You Say
listen to the Esi Benedict interview HERE. Enjoy!
Moving Forward,
www.InvestmentRealEstateCorner.com
Hey Esi, sorry to hear that so many deals are in limbo but I know things will turn around because that’s just how the business works! Keep hustlin’! Hope your daughter feels better soon and I look forward to listening to your interview with Kendall.
And…thanks for the shout out on the coffee contest! Two quick edits to your post…Barnes to Bynes and also the link for the contest is going to a blog post on Steph’s site. Just proof that you’re exhausted
LOL! Thanks though, I really appreciate it.
Here’s the right link to our video about the Best Coffee Recipe Contest!
http://www.facebook.com/video/video.php?v=418091363341
Shae´s last blog ..Offers and Coffee Contests!
Thanks Shae, they are not all in limbo, it just feels that way after having to deal with some people yesterday, but it all good…all part of the business. Sorry for the typo
I actually made the correction to Bynes right before bed, but forgot to click update. I have made all the corrections now. The contest sounds exciting.
I love the fact that you are not a quitter. Sounds like you are well experienced in turning lemons into lemonade. I have had a couple of instances where buyers tried to go around me. The first time was the hardest one to swallow because the buyer (a local rehabber) had been on my list for some other deals, and I thought we would have had a good business relationship. The good thing was the seller knew that I was going to sell the house for a profit. The seller told me that the buyer contacted them and tried to make him a direct offer. I guess the buyer thought the seller would have been money motivated. Fortunately he was more motivated by principles. We did close the deal, with the same buyer and when we were all at the closing table, even though the buyer got an awesome deal, he was shocked to see that the seller didn’t care about the check I made, and I think he was a little upset that I made money from it. I did two more deals with the seller but after that closing the buyer was nixed from my list. We have a rule to immediately nix anyone from our list who seems to be more concerned with what we are making than the awesome deal they are getting. We also make sure that the sellers understand that we will make a profit from either buying it ourselves or selling it to another investor. If they have a problem with that we suggest they sell it retail to an owner occupant. I love the blog, and look forward to listening to the radio interview!
Hi Angela,
Thanks for stopping by. I totally agree with your comments. This particular guy is not the typical investor buyer, he is looking for a house to buy, fix up and live in. I told him to drive by the house and if he likes what he sees to give me a call and I will give him access to the house. While driving by, he parked, got out of his car, walked around the house and ended up talking to a neighbor who asked him if he was interested in purchasing the house. The neighbor gave him the owner’s number and he called her and started trying to work a deal with her after he found out how much she got it under contract with me for. After speaking to her and finding out that she was not interested in going around me to deal with him, he called me to tell me what happened and made it sound like he didn’t care what i was making, he just wanted to know who the real owner of the house was. The seller called me afterward to tell me the real story. I was still willing to show him the inside of the house if he was interested, but after making all the appointments, he stood her up and didn’t show up. I do have rules that I make sure my buyers are clear about before they get access to see the inside of a house especially if the seller is showing it to them and I’m not present. If any of my real investor buyers try to go around me, I have no problem cutting them off and making sure my other investor friends know that they are not ethical. I don’t see why anyone would want to lose their reputation for a few bucks, but it’s a shame that it happens.
Looks like you”ve been in the business for a while, what market are you in and how is it working for you. Glad you like my blog and I hope to see you around. Oh! and let me know what you think of the interview.
Hi Esi, the interview is awesome. Wow, in January of this year I was in the hospital for 2 weeks with my 2 year old who did not want to eat and was losing weight as well. We didn’t know why, we found out that he was allergic to soy, peas, citrus, and had swelling in his throat from the allergies. In the hospital I re-read The Slight Edge by Jeff Olson, and was motivated to relaunch my REI business after being dormant for over a year . I got started in 2001 right before I got married. I have had a lot of success and of course a few hard bumps along the way, a couple of which made me want a complete break from the business. I was not heeding the golden rule “never get emotional”! What I needed was to run a business from the “I – quadrant ” as Robert Kiyosaki teaches in his book Cash Flow Quadrant and not be a “do everything yourself because no one can do it better” supermom. So now I’m back, ready to roll and delegating!. I’m in the Washington DC, MD & VA market. I have been focused on owner financing deals/lease options and getting private money, though will wholesale a deal or two if necessary. I started with just wholesaling, then moved into rehabbing. Based on the market today I am putting a lot more emphasis on owner financing, and selling on lease option. I have 5 beautiful children ages 2.5, 4, 6, 8 & 15. Just like you a very patient and supportive husband! I love your blog, and haven’t got a chance to network with any other real estate investor moms until now! I’ll let you know when my blog is live at http://www.thereimom.com.
Iron sharpens iron!!! Much continued success to you!
Angela
Hey Esi!
So happy to hear from you today (or yesterday night). I just listened to your interview and you inspire me so much! Thank you for all that you do and sharing your enthusiasm and inspiration. You are so great and I really hope we stay friends! Look forward to speaking to you soon!!!
Thanks so much Liz *blushing*. I always love your positive energy and I do enjoy out mastermind talks. You inspire me too and I cherish our friendship. Please keep in touch.
I’m calling it a summer slow down … we’ve been making offers and yet nothing is working out yet. But I have this strong feeling that in a week or two we’re going to see some real traction. Not sure but I think next year I will take August off because it’s been a bit of wheel spinning!! At least you have the deals under contract!! I absolutely adore what an action take you are!! It’s awesome!!!
Julie Broad´s last blog ..Pushing the Private Money Buttons
Yeah, I think people are on vacation or something. I thought we were in a recession, lol. You know more than anyone that you just have to keep making those offers no matter what, so I won’t give any advice. I’m considering taking sometime off, but i’m worried that if I stop my momentum, it will be hard to get back on track, but I really need some R&R and I just might feel more refresh afterwards. The truth is I love what I do so much, I feel like i’m obssessed with it I don’t consider it work, and it’s constantly on my mind….what can I say? i need help, lol. Things are looking much better today though. Thanks for the compliment, it means a lot to me
Hey Esi – I was listening to an interview with a guy named Tony Schwartz this morning. I LOVE what he is teaching about training yourself for recovery and energy management. I think there are a lot of us out here in the real estate space that probably put in WAY TOO much time and we’re not getting significantly greater results from the extra time. I have a feeling a lot of it has to do with energy expenditure. I found another interview with him on Youtube. I haven’t watched this one yet but thought I would share it as the interview I watched with him this morning was EXCELLENT.
http://www.youtube.com/watch?v=tke6X2eME3c
He has several books out and I am going to read one and see if it’s good. In the meantime if you can find a bit of time I hope this video has some good insights for you.
Keep rocking!!
Julie Broad´s last blog ..How To Identify An Emerging Area for Investment
Thanks so much Julie for the recommendation. I was up till 3 am watching his video and it really got me rethinking how i do certain things. You rock girl!
Wow Esi, you’re doing awesome! I can relate, it can get pretty crazy when you have multiple deals under contract and/or for sale. It’s so crazy when I’ve had multiple mobile homes. People call asking about the home and I have to ask, “Which one?” And, then they say it’s the 3 bedroom or 2 bedroom but then I have to ask them which area or street (if there are multiple ones!). lol!
p.s. Great job on the interview, it was very enjoyable hearing your story!
Lol, you are right. Especially when i have them posted on craigslist…i’m like which house? what street, how much is it listed for? I’m glad you enjoyed the interview. Thanks.