I was told to share this...

Just make sure you do your due diligence, do not be afraid to lose the deal, don't force a deal even if it has this much profit, plan your exit strategy, be creative, and even if you can't make a deal happen make sure you take something out of it and learn from it. Remember, making money on a deal is not the guage of success or failure, sometimes the information is even more valuable than the money itself! There will always be more deals waiting for you to find them!

A hard fought battle, truly and I know there are lessons to be learned. You gave it a top shelf try though.
Meeting with Chip and Andrea had to be a lifter for you. Jeremy and I spent quite sometime with them at Edge 2010 and they are a great great couple to throw ideas at.
Hmm. let me see, did Andrea have wine with her meal? Is Chip still sporting his beard?
Anyway, You gave it a great shot. There will be more to come, I am sure of it...Jan

Matt,
it's nice to read about deals that don't necessarily end up in a monetary profit, but for sure an experience profit! definitely a good reminder that we need to go out there and take action.

Happy Investing,
Valerie

Jan, looks like you know them well! It was an amazing experience to meet with and talk to someone in person that has had tremendous success and has spoken at events and even been featured in one of Deans books. Like they always say, surround yourself with people that you want to be like! This program has been amazing for my family and I cannot say enough about the academy!

Keep on keepin on!

Yes, Jeremy and I know them very well. At the EDGE 2010 we would meet at the Happy HOur for wine tasting.But we had a great time with them, and we stay in touch on the inner site that we belong to. They are truly great people who give of themselves all the time. So you have gotten to know 2 very wonderful people. When you see Andrea next time, ask her how the little people are from downtown Scottsdale. Tell her I asked you to mention it, SHE WILL REMEMBER..Stay in touch with them as much as possible...Jan

This was well worth reading and very well put.
I have walked away from 2 deals since Sept, and the last one also, had such good numbers, but I used my exit clause and didn't continue with it.
Your story is a good reminder to everyone, esp. those of us who are newer at doing this. We get anxious to do something, but even though things look like they are falling into place, so the door must be open for us, we need to do a reality check.
Your deal helps me to know that walking away is something we "all" will do and probably more than once!! But "the knowledge gained is priceless!"
I wish you a good 2011 and thanks for the info.
Sandi

Alright will do, we actually plan on doing alot of deals together soon! I am learning as much as I can and soaking up everything I can from them. I can tell they are people that truly care about others. I have a feeling we will be talking daily!

Great effort! I know you learned a lot from this; plus established valuable contacts/relationships as mentioned. At least you are taking action. Nothing ventured; nothing gained!!!

We learn from our mistakes and other people mistakes. Matt, this will make you stronger and you have also networked at the same time. Like they say, it is always better the second time around. We all have stumbled at one time or another, that's all in the game. God Bless.

Sandra

Thanks for sharing this experience with us. When any of us learn and share those experiecnes it really helps all of us that are new to this process and eager to suceed. Your words are inspiration to those of us that are new! I am more encouraged to step out of my fear and be in ACTION.

Thanks!

Kim

www.d2dreinvestmentteam.com

"Two women who've made it their mission in 2011 to put Jacksonville's renting community into homes they can start building equity in -- something to show for all those monthly payments . . . "

People just don't realize that the scary part isn't actually doing it, its not doing it. You never know when the most secure job can change or when something may happen that alters how you live your life. People don't plan for the unknown and only fear it because they are not afraid of the familiar unchanged life they are living. Doing this is way easier than staying where you are, complaining about it and doing nothing to change your situation.

Amen!! It really is as simple as that.

I take that last comment to heart. I was just notified that my job as a firefighter (the most stable job ever) may not last past the next two weeks, hopefully not but either way REI was put in my life at this moment for a reason. I am not happy with where I am so may as well do something to change it!

Thanks so much for sharing your story. You have been so incredibly busy!

You are right, things always happen for a reason. I'm sure you have heard the saying, "When one door closes, somebody opens a window." (Or something like that) Anyway, you get the gist of what I'm saying! LOL! This is your window, Mr Fire Fighter! Climb on in!

Karen

Its a garage door! I currently just from that deal have several cash buyers looking my way to find them 15+ properties like yesterday! I am going to be kept really busy this month which is good because I have HUGE goals for myself!

is the key to success! There will be many deals that fall through but then there will be 1 that does close and its because of the prior experiences that didn't go as planned that make the one that is successful work.

If one fails or falls, the best thing to do is just get back up and take the learning experience and go at it again until it does happen! It WILL happen for you Matt, sooner than you think! Way to go!

Some people will say 'i told you so', but they are looking at the small slice of the present and not the entire picture.

Remember, this is the formula for success.

What was supposed to be my very first deal after joining the academy ended up much like your 2nd deal here. Never closed, but a GREAT learning experience with plenty networking and list building! My next 3 deals also fell through before I got my 1st deal (and even at that my first deal was pretty challenging and the second had all kinds of things go wrong). All experiences are GOOD experiences even when things don't go as planned because the lessons learned are invaluable and the relationships built. Always remember to GET UP and get going again! That is how you will succeed!

Thanks for your input and all your ideas and help for this deal... Look forward to doing some deals with you soon!

Those words of wisdom Tammy....That's what I turn to time to time when I get to the point where I think nothing is going the way I intended! I know just to take them as lessons learned and another experience in the books and of course a few more relationships also!

How scary excitin'! Better luck today!
peace,

Thanks for sharing Matt. Definately inspiring and shows with determination and hard work it can be done.

For telling us that as this is how one learns by getting out taking action and doing things. I had two properties under contract some time ago just never posted anything about them but due to my buyer losing the interest in one of them I just let it go as I only had one buyer for this property and was going to be a lease to own option on it. Guess they really did not care for it. As for financing and the like on it the seller would of done owner financing for 18 months as well but with my exit clauses I was able to get out of the contract with no problem and since then I have put this buyer on the bottom til he can come up with more cash to pay down and can make up his mind what he really wants. To me it is experience as well and since this one it has been hard to find the next one but I have another property on mind that I am discussing with an agent now that an elderly seller owns and has been on the market for 110 days and the price has been lowered. Once I am done with the numbers and if all sounds good yep I am going to lock it up and pass it on to an investor I have on my list that is a cash buyer looking for this type of property in the Dallas Ft Worth area.

shawn