OfflineWow....after months of standing on the sidelines and watching I went to a local foreclosure sale at the county building to see what it was all about. Turns out a three bed/two bath house that was a Rural Development property was being auctioned off with a starting bid of 9100 dollars.I had researched the property and came up with a value of 48-55000 dollars. I didn't think my max of 20k would have a chance but when the smoke cleared I was the only one standing at 18k. I had only been able to look in the windows so I was worried about the interior condition. Turns out the people that had moved out left everything in mint condition. Got the insurance, heat and electric going this morning and a yard sign out this afternoon. Craigs list ad just got a response and the home qualifies for a no money down RD loan so the under 100k buyer (seems like that is the only buyer out there here in Northern Michigan) can probably get into the house and own for less than what they are paying rent (with nothing down). Hopefully I haven't missed anything but there should be at least a 25k upside.
My first deal
Posted on: Wed, 12/07/2011 - 18:30
Thats awesome Brad! Congratulations on your first deal.
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
By taking action you are making it happen in a big way. Great job!
Joe
Think less, Do more, Get results. - Dean Graziosi
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Congrads on the first Deal, It feels good. Knowing you can do it, sounds like a nice pay day for you....Action+Knowledge=Success....$$$$$$$$$$$$...
"Action and Mistakes" always-outweigh "Analysis Paralysis"
...Just do It"
http://www.linkedin.com/pub/john-hoening/23/2a3/164
"Action+Knowledge=Success....$$$$$$$$$.....
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www.iowarealestateflipper.com
sounds really good. Congratulations!!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Congrats Brad, Santa Claus indeed came early.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
That is AMAZING!!!!
Bet you're gonna want to do that one again, hunh??? ;D
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Way to go Brad! Can't wait to hear how the deal goes down, keep us posted!
SEMPER FI
GET SOME!
Congratulations! This is only the beginning! You took action and it paid off. That first deal is the hardest. Go get the next one!
good luck!
Karen
KEEP MOVING FORWARD
"If it is important to you, you will find a way. If not, you'll find an excuse."
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How exciting for you!! Thanks for sharing this with us!!
~Robyne
I fully realize that no wealth or position can long endure, unless built upon truth and justice; therefore, I will engage in no transaction which does not benefit all whom it affects. ~Napolean Hill
ECCLESIASTES 5:19 As for every man to whom God has given riches and wealth, and given him power to eat of it, to receive his heritage and rejoice in his labor –this is the gift of God.
Way to hang in there!
On to the next!
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
always nice to hear a success story
Merry Christmas!
Your story is an inspiration (and a kick in the seat of the pants!) to others that have been "standing on the sidelines".
With this under your belt YOU are no longer "on the sidelines" and 2012 is going to be a great year!
Way to hang in there!
On to the next!
I didn't know how to do the Auction, now it's little clear, let's go Auction hunting soon. so find a house first then wait til county to auction it. how it's work huh? Another million dollar question.
Oh good job and thanks for all the support ^_^
Be happy and go healthy ^_^
Ling and/or Dustin
I hope all goes well for you in your first deal.