Success Forum

FINALLY!!! I've made many offers over the past year and I finally completed a deal. I've had accepted offers in the past only to have them fall apart. But this is a sweet deal I did in Maricopa, Ca. I found a property that wasn't on the market. The sellers had been unloading a portfolio 200 properties and this one was one of their last. They owed $5k in back taxes and the house was about to go to Tax sale by the County. After some intense negotiating, I got them to accept my offer of $15,300 on a 1/1. I assigned the deal to a guy who's been doing rehab work for other investors in the REIA I belong to. After all was said and done, I made $4600.00.

Sometimes success means NOT doing a deal. Today I actually pulled out of 2 deals. As I've been telling you lately the Vegas market is a little crazy.

When buyers are begging for more product and they broaden their criteria "you gotta bring it", so I did. However, I locked up deals that were a little too old, a little too far east, a little too good of shape and a little too high priced. My buyers have me going clear up 85% of list, but....

Anyway, long story short, I tried and tried and pulled out all stops with my team, bird dogs and fellow wholesalers all blitzing these two and they just wouldn't go.

You may find this book titled" The 10 natural laws of successful time and life management" by Hyrum W. Smith very helpful to getting your life organized and in order and be more productive and on track and getting more out of your investing and have a happier life.For those who are starting out in there Realestate Investing or even the experienced investor this could be the answer to getting more done with out all the stress you may feel . Its a great book, you owe it to your self to give it a try, can be got through a Book Store, Amazon.com ( online), Library or a Second Hand Store, wishing you all the very best, Jim

Hey DG Family!

My last post on deals done was 3 weeks ago and only caught my deals up to end of April. Still trying to catch up, here is the first deal in May:

Deal 11:
"Scarlet"
REO
Listed at $62,500, I locked it up for $50,000. As you can see, not much of a spread, but note that from last Dec until May (6 months) our inventory shrank from 21,000 houses on the market to just over 4,000; just over 400 that are not shortsales and in our DG range of size & type. Low supply equals high demand and cash buyers are plentiful.

This is our [me & my wife] 2nd week in the academy and cant wait to get deals going. We've got almost 10 cash buyers and a couple retail buyers. This time next year we will have a watch like Matts, and a new Harley to ride to the Edge 13'.

I have been very ill for a couple of years. I have changed my diet and feeling better every day. I have kept up on reading all of the posts here on dg.com. I am so thankful for the advice from the leaders here and the success of new investors.
I intend to get more involved as of today and pursue my dream of becoming a very successful real estate investor. I am starting over and intend to do what it takes to be that man I dream of being. Thank you all for your support.

HI EVERYONE. JUST WANT TO SHARE THE IMPORTANCE OF HAVING A POWERFUL BUYER LIST. I WAS SUPPOSED TO CLOSE A DEAL WITH A BUYER THIS MONDAY 6/4/2012. THE DAY OF CLOSING THE BUYER BACKED OUT OF THE DEAL. I KEPT HIS EARNEST MONEY DEPOSIT, GOT ON THE PHONE AND MADE SOME CALLS TO MY OTHER BUYERS AND PLACED A NEW BUYER FOR THE DEAL AND CLOSED TODAY 6/8/2012. WOULD HAVE BEEN VERY CHALLENGING TO FIND A BUYER IN THAT SHORT NOTICE IF I DIDN'T HAVE A GREAT BUYER LIST. SO ALWAY GROW YOUR BUYER LIST AND QUALIFY ALL YOUR BUYERS

Still catching up, this was my 10th deal, 6 months after my first offer was placed October 4th, 2011.

I had posted this one as:
http://www.deangraziosi.com/real-estate-forums/success-forum/106976/lock...

Deal 10:
"Union"
NOT an REO
Listed at $76,900, locked-up at $53,200.
This one was out of my "old client/ hard core 25 deals a month buyer" criteria, BUT I called him anyway and he was SO HAPPY to get it. A tenant had been n place for 9 years, so it was a Turnkey deal.

I passed this to him for $3,000. He funded it and reimbursed me for EMD. Per usual, I Quit Claimed it to him.

Profits by the end of April:
Cash: $25,270
Projected after the 2 JV Rehabs are completed- $54,270.

Deal 9 was posted as:
http://www.deangraziosi.com/real-estate-forums/success-forum/106955/lock...

Here's the summary:
"Karen"
REO
Listed at $58,900, locked up at $45,000 (not nearly the spread I had been getting, but with the tightening market, and the whole valley listings down from 21,000 in Dec to only 4,200, at least I got it.

Passed it to same buyer that called on the bandit sign for a fee of $3,270.

The profits to date were:
Cash- $22,270
Projected with the 2 JV Rehabs- $51,270

Thank you for listening!

Still getting caught up, but some of you may have seen this one, the thread was "My Lowest Deal so far" (or something like that). It was in April.

I did not do any deals in March, but worked like Madmen getting the tracking, follow-ups and comp-ing improved.
And the market here was beginning to tighten up...

This was with the "old client" buyer... my second deal finally for him!

"Carey"
REO
Listed at $49,900, locked up [not quite low enough] at $34,000

My fee was $2,000 but I am very very thankful. It took me less than an hour altogether on this deal.

Profits to date:
Cash- $19,000
Projected with the 2 JV rehabs- $48,000