2nd Real Estate Property - NO GOOD
Wednesday, February 14th, 2007Well this friday I made an offer on a three unit, apartment building in N Portland. They were asking $295,000, I made the offer of $295,000 and the seller pays $5,000 in closing cost. (Which would net the seller $290,000). And earnest money of $2,500.
I thought my offer was strong, however, it was not strong enough, they took another offer over mine! They took another offer over mine! INCREDIBLE, now I can look for a better deal. But instead of just denying my offer, they decided that if the other offer diddn’t go through they would use my as the second offer, and then counter my offer for $305,000 and seller pays $5,000 closing cost. (Netting seller $300,000), they also wanted to limit my inspection period to 7 days, which is alot different than the 15 I originally asked for. Regardless, thats like a shaft deal for me, so I said, GOODBYE, and GREAT, I’m going to find a better deal.
As always, for some reason, I logged onto aim today at 1am, (I work till 4am, and then goto school in morning too) and then because of networking 4-5 different buisness partners contacted me and we talked till 4:30am, wow, although I did not get any work on my website done. It opened my eyes!
My friend, Steve, in N Portland is purchasing 3 HOUSES. WOW, and here I’am just trying to get a small three plex, he has 3 houses accepted offer, total networth around 600,000k, he did his figures, 5% down, and will cashflow. That is amazing, anyways it got me inspired! I started looking around on loopnet, and found a 9plex for sale in N Portland, for half a million (lol that sounds big,) but its $505,000, and of course (guys!! I don’t have that cash, the bank does, they loan it to me, and renters pay for the property(simplified verison)). So, I’m going to make an offer on that one I think, it brings in $53,000 gross a year. combined with current website that’d be $60,000 gross a year, on reach to my goal to acheiving gross $100,000 a year by January 1st, 2009.
So you may say, well wow Wes, I can’t do what you do. Well, I’ve been working, not partying for 4 years now, trying to start buisnesses, and this is acculmated over time. Its called the slight edge, and hopefully your on the slight edge to success.
Success is a few small disciplines repeated every single day, over, and over again. Stuipid little things, maybe I’m a square not going out and getting wasted (no offense, I use to party, a very little), but I’ve been working dilligently on my buisnesses, buidling assets. And I knew it would happen, and most people don’t know whats happening, all my party friends are getting further behind, and will be working for the rest of their lives, while we, the successful people who sacrifice FUN, for work NOW, will be enjoying expoentially more freedom, fun, friends, and lifestyle which others think someday they will have.
Don’t be apart of the somedays. Someday someday someday, and someday never happens.  This is what I hope you are going after, “I WILL DO TODAY, WHAT OTHERS DO NOT, SO TOMMOROW, I WILL HAVE WHAT OTHERS DO NOT.” You can do whatever you want, separate yourself, thats what I’ve choosen to do, and if you want financial freedom, well, most people aren’t, so don’t go where most people going.
IF YOU HAVE NOT SEEN THE SECRET, you must see this video: http://www.thesecret.tv
You are a success, and I will see you in the winners’ circle. Don’t accept advice from anyone more screwed up than you.

Do you know the story of the Scorpion and the Frog?
I like what Zig Ziglar has to say about building a character foundation, he quotes some of the tallest buildings in the world, have the largest foundations in the world. The larger the foundation, the better it is, more stable, higher integrity the higher you can grow. This is applied to people in how we need to build a character foundation, so we can be able to go way way up.
Today was a good day, I studied for my math, and geology final for tommorow. I should be doing above average on both of those tests and did it fairly quick. I do not understand how some people spend several days studying for exams, but I’m sure they do not understand the entrepreneur risk taker either. Regardless, after that I spoke with my realtor, got a new good faith estimate so we are going to be look at some properties together soon.
Well I’m finishing this blog at about 6am, it is not uncommon for me to go to bed very late because I’m normally up working on my laptop. With the 24/7 activity on the world wide web, it really doesn’t matter whether or not I’m working at 9-5pm, so as an entrepreneur, we are able to set out own hours and work whenever we want. It is a great experience.
Today, my friend Charmon helped me study for a Sociology Test, which I took today. I m unsure what grade I’ll get in the class, and then I studied for my math final on Wednesday. After that it was about 9pm, however, it was the start of my business productive day. After getting home I talked with Marc Rogers, an individual in Portland, OR who is helping me find an investment property to purchase in North Portland. Then, I went ahead and talked to the mortgage broker to give me some more good faith estimates to see compare the numbers on different loans. My real estate transaction is going along well. I saw several multi family units in N Portland, however nothing to exciting. They all bring around 22-25k gross per year, they are all around 300k for a three units. The pictures were some of the properties that I have been looking at as possible investments. And for those people who don’t understand leverage, no, I do not have 300k liquid cash sitting in my bank account. Not yet anyways, but no, I’m borrowing the money from the bank. To many people say I do not have money, if I did I would invest. Well don’t kill yourself mentally, OPM, other people’s money, use the bank’s money not your own.
Then I logged into
As I mentioned in my previous blog I’m helping out a fellow aspiring entrepreneur start his first internet venture, we are talking online and I hope to help him achieve his future goals. We talk alot about buisness, reading books, and general fun stuff, its great to know that he relates so well to me. I’m encourgaging him to work on himself, so I’m sending him some CDs in the mail tommorow and went ahead and sent him my unfinished book. Why Not?
So heres my why, the why makes it all worthwhile. I’am writing a book so I can give back to the community which has helped me out throughout my life. It is a chance for me to share some quality information that has positively affected me, and I’m able to share it with others. It gives me a credible source to referr to when selling myself when people want to invest in me and my buisnesses. Although I do not necessarily like titles, it would be nice to know that at age 19 I have successfully writen a book and call myself an author. I’m able to inspire, instruct, and help others succeed with the knowledge in the book. And maybe, it will provide me with some residuals from the book selling (even though I might just make it for free), and bring more attention to my works.