Dealmakers Blog – Ramblings of a Real Estate Mogul

Posted By: Sean Terry | December 11, 2008

What Does a Full Time Real Estate Investors Day Look Like?

I want to give you all a glimpse of what an average day for me consists of.  I read Donald Trumps book the Art of The Deal and the first chapter is a “Week in the Life”.  I found this interesting and fun to read.  I hope you you enjoy…

6:30 A.M. – Get up and get a fresh cup of coffee (this is a must) then spend 45 minutes to an hour reflecting on the day ahead.  This always clears my mind and allows me to start the day fresh with energy and focus.

7:30 A.M. to 8:45 A.M. – I help my wife get the kids ready for school, we have 2 daughters, 5 and 10 they are great kids and so full of life. I love ‘em. 

9:00 A.M. – I pull off all the title commitments from my e-mail, we are buying several houses a week and we mainly purchase these homes at the Maricopa County Court House where they hold auctions form 10 A.M. to roughly 6 P.M. We have to determine 3 things prior to bidding. 1. We have to see if there are any liens or mortgages that will “stick” to the property after the auction is held.  What can stick? Well, IRS liens, tax liens, unpaid taxes just to name a few. 2. We have to make REAL sure we are bidding on the 1^st deed of trust.  3. We have to determine the value.  (I will do a separate post letting you know how to determine a value of a property within $5K-$7K range, after you read this post you will get how to comp a property……stay tuned).

9:30 A.M. – I’m out the door and off to drive the properties that made the cut.  We usually find 8–10 houses a night off our initial scan of the properties the night before.  We make sure we drive every property we bid on to ensure that it’s still standing.

10 A.M. – Text bids to our guy that works for us at the court house.  He will bid no more than we text him.  Here is what a text would look like: “Hey John, please bid $107,700 for property XXX W Gail Rd.  Thanks Sean” 

10 A.M to 11 A.M – Still driving properties, auctions go on all day so we want to make sure we see all the potential good deals.

12 P.M – Meeting with our partners regarding one of our land projects we are working on.  We own roughly $30 million dollars worth of in-fill residential, multi-family and commercial land ranging from 10 acres to 138 acres.  These properties are fully entitled and we are waiting for the market to stabilize before we sell. 

1:30 P.M. – Grab a quick bite to eat and I’m off to a presentation to a group of realtors that are interested in our Fortress Investor  program where we sell cash flow properties to investors for only $7,500 total out of pocket.  We are doing a presentation to launch our owner occupied program here locally in Arizona.  That site is www.LowDownHome.com, with this program a home buyer will be able to buy a fully renovated home for only 1% total out of pocket.

(more…)