OfflineHere's the deal. It was referred to me by a family member. Four siblings inherited a house with an ARV of $105k. Repairs were 25K to 30K I originally locked the property up for 30 days with a purchase price of $60K. I had buyers on my list already but as soon as I got the property locked up I started googling "we buy houses" and found many buyers in my area. Turned out the buyers on my originally list weren't the players I thought they were. I feel like building your buyers is good, but you will only know the truth about them once you actually have a property under contract. If you have a property the buyers will come.
Without giving them the price of the home, I met them at the house and asked them to give me there best offer. I got two offers right away. One for $49K another for $55K. Both investors were very cool and said they could close in 7 days with a non refundable $2500. Obviously this was less than I had the property locked up for.
So I went back to the seller and re-negotiated for $40k and they accepted. The had no interest in the house, in fact, had nothing but negative feelings for it. I went to my buyer for $55k, who referred me to his escrow agent he works with, she is awesome! I told her what the situation was and that I wanted to keep my profit from the seller because this was a pretty big spread for an assignment, I felt.
Anyway the escrow agent handle her business very well and took care of me.
The house closed yesterday and I walked out of the escrow office with a check for $15K.
I had no idea what I was doing. The contract I used was from this website, it was a great learning experience. Again this was my first deal and luckily the buyers I talked to understood everything I told them and were very helpful.
Not only did I take home $15k for about 8 hours of work (mostly driving time), I met some great buyers and an awesome escrow agent. Now I have the confidence to do it again.
Thanks Dean your a pimp!
To your success
Dustin
Good going!!! Have at it again!!
Michael Radtke
www.nationalpropertyscout.com
Slide Show:
www.nationalpropertyscout.com/Slide-Show.html
Congrats on a job well done and thanks for sharing the details.
"Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude."
Shaun Omar
DSD Investor Group Inc
www.dsdinvestorgroup.net
www.decoscapesinc.com
http://h1.flashvortex.com/display.php?id=2_1315708016_24517_144_21583_70...
Wow...Dis site is just awsome. Ican't believe i had all dis available to me for my use and never access it until now. I wuz given the opportunity to enroll in Deans Academy and even bought the program "Profit from Real Estate Right Now". At First i wuz really excited to start and anxious to get it going. I had no experience @ all in the real estate business. But i had high hopes that i could do it because my brother new something about it, and i wuz gonna partner up with him. But some where down da road, it got tooooo overwhelming for me. I wuz pulled to different directions, being bombarded with all kinds of emails from all "so called Gurus" directing me to all kinds of webinars, only in the end they want u to buy a program thats gonna make u rich in 2wks to 30dayz.
Anywayz, i lost track of wat i wanted, why i bought Deans program, Wat my goals were & how 2011 wuz gonna be my year to succeed. I even bought deans "Gain the Edge 10" but didn't look @ it until Last nite. Dean Sent me an email about a blog he just posted, sayin it wuz time to pick the winner for "2010 Send me a way contest". Pick ur favorite. I wuz inspired by all but wat really hit me most wuz Rina & how "Gain the Edge" along with This site DG.COM helped her get to where she's at now. I then had a chance to play the dvds from my "Gain the Edge 10" system for da 1st time, and to my surprise i had all the tools infront of me to get my business of the ground and i wuz just wasting time openning emails dat doesn't make sence. I than open this site for the 1st time, and i tell u it is like picking up a book that u don't want to put down til the end. I am like addicted to this site. I wuz glued to this site all day today, reading everyones post comments. I had gotten alot of info, even answered alot of the questions and doubts I had. Thanks to all of u dat shared ur thoughts and knowledge in realestate. u have all inspired me with ur comments & stories of success, I can now take my first step in landing my 1st deal. Sorry, for da long story, but I am new @ da game. Just needed a little push and some inspiring, to realize dat i too can make it happened just like u all can....CONGRADS to all dat already landed their 1st deals and more & GOOD LUCK to All datz yet to make their first!!! ......Lyzah
Awsome!!!, Job well done....Now keep going & goodluck with da next deal. Thanks to all dat post & share, u all inspire & motivate me, and i just love all the helpful comments.
Wow I am absolutely dumb founded on your story,This sounds pretty much like how things would probably go for me.It seem as though certain things came along as you went along.Like all came together once actions started being taken.This Is a wonderful an inspiring story I love It.How are you doing today are you comfortable yet with this and do you have a strategy down for yourself?I love this story.I hope that In the next 4 to 5 months I am on here telling my own story.Have a great day.