Closing my first 3 deals today...WAHOO!

I forgot to mention that it was all done with NO MONEY DOWN!

Yipee!

AWESOME !! great deal and 1000 per mnth right off the bat !! sweeeeeet going .keep up the fabulous work.IT is very exciting to hear AND MOTIVATING to see that action is what it takes and u certainly TOOK ACTION. with what you learned !!!

congratulations
jay

Congratulations. I wish you the best. I can't wai till I do my first deal

Congratulations! Your post is an inspiration to all of us. Best of luck on your future deals. It feels really good to deposit that first rent check. Keep 'em coming.

HOW EXCITING...PROVE ALL THE NAYSAYERS WRONG! WHERE DID YOU FIND THE DEALS? FSBO'S?, BANKS REO'S OR MLS?
BARBARA

I found one on craigslist and the guy had 3 others. Great deal!

can't say "nay" much more now, can they?

As the old saying goes, "The proof is in the pudding" and WOW - OH - WOW have you got the proof now!

I bet you 2 can't even hardly sleep at night due to your excitement!!!

Congratualtions and THANK YOU for sharing your success with the rest of us!

Mike

way to go. they always say it's easy after the first deal, but it should really be easy for you after the first 3 deals!!!

Congratulations on your deal we are so happy for you two. Keep up the good work.

Steve and Veronica.

WOW Great Job, I am so glad to hear that you found such a great opportunity.
This is wonderful to hear about,
How much did you have to borrow and how did you structure the deal and present it to the lender?

ANXIOUS TO HEAR THE DETAILS!!!

Could you tell us a little more about how you found the lender,
And did you need good credit to make this happen?

Sorry for so many questions just thought it would help many other newbies to hear the details on how you made all this happen.

God Bless DGF.

Thank you Steve and Veronica for your tip on a bank. You helped make it possible!

Great job!! 3 deals in one day, thats huge!! Congrats on getting to that point in your REI carreer, one day I will be in your footsteps.

Now that is wonderful! I am so proud of you! You go show those naysayers how to lay an egg! I love to read stories like this! Great job!

Congratulations on your first three deals! That's awesome. Keep up the great work!

How did you find the private lender and what terms did you negotiatate with the private lender?

CONGRATULATIONS on 3 deals!! Much continued success to you!!

Lea

I found the private lender through another investor. He requested all sorts of information about the properties, the area, a rental breakdown, retail profitability, etc. We had the 3 under contract for $55,000 and needed $12k for repairs. The lender agreed but we had to put 10k in. We offered him an 8% return and will pay it back within 6 weeks when the refi is finished. We got another private loan from a friend and he gave us the 10k plus closing costs (with a 10% return for them). We've put nothing out of pocket!

You can create no money down deals, you just need to find the right people to work with. Trust me when I say that this was not an easy deal, but totally worth it! We'll be closing up 2 more deals within the next month.

Like Napoleon Hill says: Opportunity often comes disguised in the form of misfortune, or temporary defeat.

Don't give up. There's ALWAYS a way to make it work!

Tiare and Spencer

THATS AWESOME, CONGRATULATIONS.
I am a little confused about the refi. What was being refied? Did you get all three properties for 55k ? Was there a mortgage on any of those properties and since you are gaining a passive income on them of 1k, where did the 45k come from?

I found a bank that does not season their loans. They will refinance the house immediately for 80% LTV and give me cash out. So I got a private lender to put up the funds to buy and rehab them. Then the bank will immediately do a cash out refi and then I'll pay back the private lender with the refi money. It was 55k for all properties and the 45k comes from the cash out refi.

Great job guys hope to be right behind you soon.Which bank did you refi with? Anthony

WOW, THANKS FOR SHARING..THESE STORIES ARE THE OXYGEN IN THE LIFEBLOOD HERE FOR US..SO THANK YOU SOOO MUCH FOR SHARING WITH US!!!

:CONGRATULATIONS!!

What a terrific story. While I am sure you skill sets are unique, this should show everybody that it can be done. Just start thinking outside the box how you can have success too!!!

Congrats, and thanks for sharing all the details of your deal with us! Very inspiring and encouraging. Great job! Oh, wondering where you guys are located?

Congrats on your deals! I see that you are also in Indiana...I am curious as to which bank you used as I am also in Indiana?

Thing's are pogressing foreward, we also have contact with an investor.We have two property's were woking on right know,from this investor that is starting to sell her potfolio,she has been doing it for i long time and wants to leave the state and retire completely.
We are prying this works out,She is willing to owner finance,We haven't talked terms yet but i did say i was looking for no money down to get started and she didn't say no.SOOOOOOO we are supposed to meet her this weekend and look at two of her 2-unit prperty's.One is a 3/3 fully rented and a sec-8 needs no work asking 28k the taxes are 1k a year in a good area,the rents total 850 a month thats some good pos.cash flow.the other is a 2/2 fully rented 1k taxes a year same area about 2k to make it perfect, asking 22k with 800 month rent.These would be a great investment with great pos.cash flow.We will post the out come on monday.If we get these deals to work it could lead to more with her in the future.We are keeping our figers crossed.If we had money this would be a no brainer!!
Please join are thead at http://www.deangraziosi.com/real-estate-forums/everything-else/62118/who...
Lets keep this thread going strong i know it's working for us and I'm sure others are getting pumped also, so lets keep the great info comming in.
Lets all get to the set for life status we deserve
Bob & Sandy

Congratulations!
wishing you many more-thanks for sharing your success; it inspires us!
Valerie

That is awsome work!! way to go find a way to get it done. hope it all works out for you and many more!!

Richie

Tiare and Spencer CONGRATULATIONS!!

That is what make this business so great you never know what is coming your way you just have to keep working it and it will come. No fear just keep moving and it will happen. Wow 1000.00 monthly cash flow a couple more like that and you can retire. LOL.

Great job keep it up.
Gene

Great job! Keep up the momentum and keep it to yourself as you don't need any negative energy! Even when the deals are complete, the negative people may become jealous and that's negative energy you DON'T NEED...They don't need to know what you have or don't have, so keep your inner circle as tight as possible...

It's a beautiful thing that your love is your partner, that's the best as you both have your best interests in mind at all times:)

Good Luck and keep pushing forward!

Jennifer

Congratulations to you!!!! You have so inspired me. I have not even come to the place of closing my first deal, however, you have blessed my heart. I will continue on my path to "Great Expectations."

Again, AWESOME JOB!!!!!!!

Michelle W
"Great Expectations"