Success Forum

I love all the creativity these boards and Dean's videos spark in us! I'll outline the deal we just secured here!

We found the house of a bandit sign caller, he's a guy who's had this second home as a rental and is just sick of dealing with it. Home is nice, about 1000 sq ft finished and 800 sq ft we just need to carpet and put trim on to be finished. 4 beds, 2 baths and a huge 2.5 car garage. ARV of the house is about $145k, we just need to put new carpet in the upstairs bedrooms and basement, install some trim in the basement and do a little frame and tile job in the downstairs bath. When it's all said and done about $1500 worth of work, and we're doing most ourselves.

According to homework in DG's 30 DAYS TO REAL ESTATE CASH I must make at least one post a day and this SUCCESS Forum sounds like a perfect place to start; successfully!
This is my 1st blog post ever... never purchased any real estate.
Following the blueprint On my way to SUCCESS!

Hi All
I have been on this site for several years now reading, writing and learning what can be done with real estate. I have given as much as I have taken from the site as well. I started a journal that I keep up to date and I have taken a few people here that I thought had everything they needed to close a deal except the kick in the butt to pull the triger (you know who you are). I loved the feeling of being able to help them out and get that first deal done.

So, I put up about 40-50 bandit signs out during the weekends and take them down Monday morning. I did this for about a month.

One month.
I know I've been a member for a while now but I finally made the decision to stop contemplating to evaluate to consider to decide and conjure and..whatever.

SHOOT FIRE AIM READY!!!

I got about 8 calls from this. The first call was from a local real estate investor looking to buy the houses I'm looking to wholesale. GREAT! I didn't know this at the time but we had met before at the local monthly real estate meetups. He is the host. A couple other phone calls were unmotivated, a few were over indebted and referred to a Short Sale Realtor. One week, a guy calls on a weekday from the ONE SINGLE SIGN I left up by accident.

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My partner and I just got our first payment on our first deal!!! We bought a home on contract for deed that was about 90% rehabbed. All it needed was a little paint (which we got for free at the local recycling plant!), carpet in the basement, and a closet framed out. So our total rehab cost was about $1,000.

Parameters of the deal: $80,000 purchase price, $3500 down payment, 7% interest (so payments are $509/month), 5 year term.

We then did a lease option to a buyer: $120,000 purchase price, $5000 down payment, $1300/month ($300 credit), 2 year term.

So we made an extra $1,500 on the down payment, $700 cash flow per month after taxes and positive $40,000 on the purchase price!!

We are super excited about this one and can't wait to do more!

Hey folks... just wanted to share that my DG Take Me Away video is finally up! I'd tell you all about it, but the content of the video sort of speaks for itself.

Anyway I'm psyched... here's the link!

http://www.deansmedia.com/play.php?vid=267

Hello everyone,

I am not new to real estate. I bought my first house in 1997 and my second house in 2000. Since then I have not purchased any property.

I have always loved remodeling homes and seeing how you can make something out of a old run down home. I rehabbed both of my properties, which is probably the reason I haven't purchased anymore. Worn Out! Also, having two young children changes your life a bit.

Why that subject, well hard to sit on a 1 or 2 legged stool and a 4 legged may have one leg shorter and the stool would rock...

I think we all know practicing gratitude is the key to happiness.. And appreciating what you have rather then focusing on what we lack, missed out on or lost.. But damn, its not always easy to really let it sink in is it?