My Deals

Hello All.
No I don't want you to walk me through it. But I have what I believe is our first deal. Got Deans books about 3 weeks ago and are trying to learn as fast as possible.
* 1334 sqft 3 Bedroom 2 3/4 Bath 2 car garage house built in 1992 on county land but with city utilities.
* FMV appears to be 164,500 by Zillow and 185-217,000 by Homegain. Are there any better places to go for FMV data?
* Asking price is $94000.
* On the market for 47 days.

I got Deans first book back in December 2008 read and said to myself does this stuff really happen. I got his second book in february just before I got laid off from the bank where i worked. I said I am going to try these techniques and see if this thing really works. I called one of my college buddies who knows a little bit more than me about real estate to be my partner he agreed and we started putting in offers for Reo's right away.

In March 2009, I had my eye on an all Brick Duplex with a 2 car garage in my local area that was on the market for several months. Each month they lowered the price. Six months prior it was listed at $89,900 and then in March 2009 it dropped to $49,900.

I believed there was opportunity in the real estate market, but I was not sure what the best next steps would be. Then late at night I was watching TV and saw Dean’s program. I agreed with everything Dean was saying and the strategy discussed through-out the program. Matt Larson made an impression on me as well and I began to look for a good deal. I was motivated and I agreed with the theory of offering 50% or less for a property because there were so many new properties coming and staying on the market.

Good Evening DG Members,

I was updating my goals this evening and I want to rewrite my first goal to purchase at least one property per month that I can hold as a rental property. I am so thrilled that Dean's new book "Profit From Real Estate Right Now" motivated my wife and I to take action which we did in April 2009. We ordered Dean's book in March 2009 and went to the E.D.G.E. conference in April 2009.

My wife and I decided to commit and take action immediately. I enjoy Dean's Gain the E.D.G.E. video and Dean asks "Whose Coming With Me!" We are Dean!

I am 22 and going to school. My funds have run out and school and work just aren't cutting it for bills and living expences. I have found a place that mihgt fit my needs but I need some opinions and leads on what my next move should be.

My Goal: Find a 4 unit complex fix it up live in one unit for free and rent the other 3 units out.

After reading about Indiana Joe's success with his REO I could use a little help He inspired me to rethinkg this deal

Found a 3bd 1 ba home on a dead end for a short sale. Owners owe 180K was listed at 135K. Comps from agent show houses selling around 85K...which was my original offer so i lowered it to 75K and submitted that. The bank countered 88,500.

Can i submit and offer for lower? or stick with maybe 76K? I was gonna offer 80K I don't want to lose the house. But I'm not sure what i'm doing.

Hello,

I just wanted to give everyone on here positive feedback! I just started into the Real Estate Investing business two months ago, and I just wanted to tell my story, so maybe I can help someone else out.

My first deal I am in the process of making will make me over 25,000 dollars and I am new at this. If I can do this, anyone can do this.

Right now I am working on my first deal-5 acres zoned residential at the end of Rd surrounded by housing. The land in this township goes for $100,000-$300,000 per acre, this lot in particular has all public utilities.The owners want around $650,000 but negotiable, agents are like vultures wanting to get the property into their MLS. The sellers do not want to be tied down-I feel like a fish out of water, is there anyway that I can get the land appraised without using my own money???

Hello DG Members,

I got some great news on another offer after I was slightly upset about a broker shopping my offer on another home. I had been watching a small brick ranch REO home for 2 months and the price dropped from $69k to $49k. I made an intial offer of $15k and the bank Asset Manager rejected it and countered at $40k. A week later I offered $16k and the Bank Asset Manager countered at $30k. I waited one more week and then stated my best and final offer is $17,500 and the Bank Asset Manager.....accepted the offer!