Success Forum

Whoa, still catching up....
This was back in February as well.

By the end of February, I had realized success with Bandit Signs-- getting 3-10 calls per day from various buyers: Agents, Rehabbers, Wholesalers, Bird Dogs, and Turnkey Investors.

I had done deals with 5 investors:
1) was an old client of mine in my other business
1) was from the first
2) were from my REI Club
1) was a caller from my signs

Still catching up, but this one did not happen until February 2012.

At the end of Dec 2011, I had worked soooooo diligently trying to close those first 5 deals that I did not take the time to place new offers, so guess what? No accepted offers in January. And I did not have the offering process on auto-pilot yet. I was still trying to understand the processes, still trying to ramp-down from working my other business 90 hrs a week and do this.

But, finally in Feb I got another offer accepted.
Hah! After putting bandit signs out 5 times in different places, we found a new spot and MAN! I got like 60 calls that week.

Again, catching up. This was back in Dec 2011.

"Dumbarton"
REO
Done as JV Rehab split 50/50.
I'm the sweat!

Listed at $44,900, I locked it up for $28,688.
We put $21K into it, plus holding costs and so forth, we're in at $50,000.

Currently, we have 2 offers-- 1 at full list ($74,500), one at $77,000.

We shall see. (I had a goal of my half of this deal to be $9,000)

Profit at the end of Dec 2011, 2 months after my first offers and with approx 110 offers in was $10,400. Projected profits including the 2 JV deals was $39,400.

Thank you for visiting!

Again catching up, this deal was in Dec 2011 as well.

I started negotiations in Oct (the same time as the first deal that never actually happened, but did get accepted, which I have not counted as "a Deal"). At that time I had about 50 offers in place. For those next 2 months I negotiated and renegotiated on this one. It was a Hot Mess! The original accepted offer was ~$52,000, but I ended up getting it at $28,000.

"Phillips"
REO
Listed at $69,500, locked-up at $28,000
Through my REI Club a buyer came to me and asked if I rehab it, if he paid for it. Voila! First JV Deal.
It needed $60,000 in repairs. It was a 6 bdrm/ 4 bath that had sat empty for over a year, all the copper was stolen out of it, most of the windows broken out, etc.

Again, I'm catching up so this was back in Dec 2011.

This one was across the street from "Sorrento", deal #2. I asked my realtor about it and as it turned out, it was also bank owned but not on the market. We placed an offer to the eventual Listing Agent who took the deal to the Asset Manager. I offered $20,000. It was a nice 2,400 sf house in this nice semi-custom neighborhood, but it had survived a fire.

The bank came back with $55,000. We settled on $34,000 and it was listed on the MLS that day so I could buy it.

"Acapulco"
REO
Of Market, but the bank wanted $55,000, I locked it up for $34,000.
I could have been greedy, but the same buyer (Sorrento} wanted so I let him have it for $3,000.

Again, I am catching up, so this was back in Dec 2011.

I was up to about 80 offers in place when I caught this one.
"Sorrento"
REO listed at $99,900, I locked it up at $65,000
In a mad chase with a buyer (a rehabber) who REALLY wanted it but had most of his money tied up, we did close it in my LLC with his funding and I got a check for $3,000 plus reimbursement for the EMD. I Quit Claimed the deal to him as soon as it recorded.

Done! Deal #2
Wholesale profit so far:
$7,400

Thanks for visiting!

Hi guys!
I realize it's June already, but as we all are I've been busy, so I wanted to take just a few moments to catch up.

Since I haven't started a journal I thought I would post all my deals since my first, one by one. I started PMI June 2011 (maybe it was July, anyway.... ). My 15 offers were placed Oct. 4, 2011. By Oct. 26 I had placed 53 offers and got my first accepted. Due to excessive damage, I went back to the bank and over the course of the next 2 months that property ended up being donated to the city. I never did that deal. BUT, it was accepted!

So, my first deal was in Dec. 2011.
"Wilshire"
An REO, listed at $139,000
I locked it up for $110,000
Since it was a REO, I could not assign it, but I got the bank to allow a substitute buyer.

How many of you successful investors went through Dean's Success Academy? I am seriously considering this. Any information would be greatly appreciated!

Thanks,
Steve

Is anyone successfully doing the 25:1 strategy in Texas? I've been seeing people in other states that are doing it, but not here. Have I missed something?

To all attendees, live and remote,

With the vast information we received, we can take away specific useful strategies, such as:
WHO- we can network & partner with, and define if we are a Lifestyle or a Lifetime Investor as presented by Andrea
WHAT- a 15% NOI is and how that basis can structure an entire wealth building empire as presented by Chad
WHERE- we can market and mine for product and buyers with little or no money as presented by Joe
WHEN- we need to stress urgencies, Calls to Action, to buyers and sellers as presented by Ali
HOW- to formulate and structure the 25:1 wholesale techniques as presented by Matt, and HOW to accumulate wealth with passive income as presented by Nate and Jen's "Buy Right" methods