My Deals

it took me about 3 weeks to get this seller to finally say she was going to drop the price. a said an offer about two weeks ago with some conditions, and she accept. i have on contract for 75,000 and she asked for 85,000 with furniture and lawn equipments. the buyer who was interested in the property wants know how much she owes on her loan, and decide from there. she owes 45,000 on her loan, agree to me at a selling price for 68,000, and i have it on contract to assign to a buyer for 75,000 with furniture and lawn equipments.

what do i say to keep my price and have the buyer to take the deal?

Wow! I am so stoked. I just got my first deal done last week after trying for over a year. It was done a little different and I almost gave up on it, but I am glad I kept at it and got a little luck going my way at the same time. I was contacted by a seller who had a home that was free and clear but owed about 10k in back taxes and needed to sell fast. We negotiated the deal for 49k sales price, ARV was 110k. I then placed it in the newspaper for 75k and had retail buyers calling me, as well as other investors. I finally "assigned" it to a retail end buyer and made a quick $8000 for about 8 hours of total time on my part. Not bad at $1000 an hour.

Our offer of $50,000 was accepted this morning!!! on an REO appraised by the bank in early Feb 2011 for $99,000.00, according to the court records during Sheriff Sale. Property needs some cosmetic work, paint and some finishing interior work, less than $10K in repairs. We want to find someone who can do Lease Option and make some profit! We are excited about this new deal!

Hello All,

After 3 years my wife and I have closed our very first deal. We had a fellow investor that we were working with on selling properties. She had a property in Cleveland, Ohio that was broken into on more than one occasion. A 2 unit property that had great cash flow and was a great investment at one time, but became an eye sore and a financial nightmare because of the downturn of the area.

Our friend/seller, is in California, we live in PA and the property in Cleveland, Ohio. It was sold to a buyer in Washington State. It only took a week and a half to close even with some snags. A great title company really helps as well. Oh, and a lot of persistence.

Hello, everyone in DG family! I dreamt about this day for a long, long time - the day I did my first deal. After one year of a painful "No-Deal" period, the spring has come!

Yes, I consider myself as one of the worst students in DG family. Because I hadn't done a single deal until now. On DG.com, I see a lot of stories of "Star" students of Dean, and so many others who did their first deals within a couple of months. Their stories have really inspired me and taught me a lot. But at the same time, it is true that sometimes I felt disappointed with myself, or even ashamed of myself for not having done any deals. But I kept going. I am glad I did.

I got my offer accepted on a REO, the asking price was 120k and we offered 122k. I know, it was not dumb to offer more than asking price as I knew the location and prices really well and my realtor said that they wantedly reduced the price from 134k to 120k to start a bidding war. The FMV of the house is around 176k and it needed very little repairs, around $1500. I was confident that I can close on this with the 25% down and then conventional loan and later quickly refinance and get back some cash. To my surprise a few days later my mortgage broker called back and said that the bank (where I applied the loan) had done an appraisal and it came around 115k so the bank would not give me a loan for the amount I expected. I was really disappointed to hear the 115k appraisal.

Hello DG family!

Just to let everyone know I completed my first deal! It was a home for me and my family though.

I found a nice house selling for $85,000.00 negotiated it to $77,000.00 got full seller financing and a 5 year balloon payment which gives me time to get a new loan once my credit score is higher.

All this thanks to the knowledge on real estate from reading Dean's books and the SUCCESS ACADEMY.

Just as a side note. My wife is now a believer. Initially she was opposed to me signing up to the Academy because I had spent so much money in many different types of course looking and and not finding.
She thought I was just throwing the money away! Well not anymore.

Hopefully I can now start looking for an investment deal.

Thank you Dean!!!

I am excited to share this deal with you because the way my partner and I found a buyer for the property was a miracle. Call it luck, but I call it destiny. Knowing nothing about real estate, however, every little step I took a year ago brought me this success and it couldn’t be otherwise.Talking of Delayed Gratification, Dean! Reading Dean's books, going through a real estate academy, taking action and, most important, having faith, created a fortune formula that I slowly starting getting used to and it's fun! You might call it crazy, but real estate became an obsession for me. So let me tell you how we locked on a property and were able to resell it in a few hours.

Well thought I'd post the progress on this deal I'm working on as it is a little unique in the approach. My wife is a personal trainer and a co-workers parents passed leaving him a property in desired location, needs work and has been sitting. She put us together and met him at his property yesterday for walk through (with FLIP camera...nice tool!!) to discuss with him and ask questions and see motivation. He is ready to let go as it is costing him money....

ARV - 170000
Rehab - 35000
Profit - 30000
Asking price - 130000

WOOHOOOOOOOOOO!