OfflineIt looks like I will have my first wholesale deal in the books. The buyer is sending me a $500 non-refundable deposit today.
A seller responded to my bandit signs and said he just wanted what he owed on the house which is 40K. The ARV is around 70K. House needs 10K in repairs.
I assigned it for a $1,500 fee.
I also have 2 more purchase agreements signed and going to closing this month. Both of these I will sell on contract.
One I bought for 25K will put 10K in and sell for 55K with monthly cashflow of around $200.
The other I bought for 23K and will sell for 35K. It's in rural Iowa and is a great house and needs nothing. 2 large lots with a corn field in the back yard. A huge garden with awesome concord grapes growing and plentiful!
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CONGRAULATIONS , SOUNDS LIKE YOU'RE ON A NICE ROLL, KEEP IT UP, THAT BIG PAYDAY IS CLOSER THAN YOU THINK.........HOLLER
HS
Harvey Sanford
Congratulations Brian! Doesn't it feel great to get your first wholesale deal in the books?! Opens your mind up to a lot of possibilities!
I look forward to hearing about another deal from you in the next month
Dominic
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Way to go!
Mike
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Great job! I love reading first deal stories.
Be the champion GOD created you to be.
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Pat Rivers
I am so glad you have hung in there!
Restaurant business is a lot of LONG hours, so I know it has been very difficult, but I am sure You are glad things are happening now. Keep us updated!
Karen
"You're never too old to be what you were meant to be!"
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"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
I put out 5 bandit signs last night in our town of 30K people. Have gotten 4 calls already. I've been fortunate in that I have several leads in my pipeline. I'm a teacher and school starts on Monday. School, restaurant, and rei will keep me more than busy.
I appreciate everyone's support and encouragement. I also have I Buy Houses magnets on our 2 cars. I'm starting to get know as the I Buy Houses guy in our town. No one else is doing this.
Thanks again for your support!
They say the second one is easier.
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