OfflineNot my best profit on a deal by far but really helped some people out. Had a seller call who hadnt made a house payment in 6 months. Needed $ 9500.00 to bring the loan current and the house was worth $ 20,000.00 less then what the mortgage balance was. I bought the home and sold it to a buyer within a week. The sellers almost cried and told me I was God send.
The buyers are ecstatic their in a home they thought they could never get. Its not all about the money and I consider this one of my best deals to date.
DG
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$3,000 is nothing to sneeze at! Any one of us will probably take that any day!
So if the house was upside down $20K did you do a L/O and use the option $$ to bring mtg current and have $3K to pocket?
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!"
Congratulations on your deal. It's great that you were able to make the deal a win-win-win. Could you give some more details about the deal.
Bruce
"Success is overcoming obstacles on the way to achieving your dreams"
- Karl Mecklenburg(former linebacker for the Denver Broncos)
It IS about HELPING ppl and as you said ,
"I consider this one of my best deals to date"
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
$3,000 is not bad at all!!!
nice job, and as you say, very rewarding to help out others!!!
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
This is a great business to be in for a lot of reasons but when you have such an impact on others.... it takes it to a whole new level.
I dont do rentals any more Karen.... It was a Sub 2 Deal. Look on a Hud 1 for it. Every agent I come in contact with I point it out.... and to date have found none that have used it or even know what it is.
Thanks for the congrats!
DG