OfflineWell it can be done, and the funny thing is my end buyer was not their and I walked away with a 5 figure check. You would not believe how many no.s I got to get a yes. I just didn't want to pay any money to use someone else for 24 hours. When they tell me no I always say to myself game on. Since Monday was baby sitting day for me I had to take my 9 month old grandson. Might as well get him started early. I had to start out doing 0 down deals when I started due to no money and bad credit. So still to this day I find a way to make them work. The way I look at it is for every no I get I am one step closer to a yes. and when I am told it is illegal are it want work my mind goes to work 7/24 to me this is the fun part. When you think about it no is just a small word for fear, another excuse not to move on.
Randy
Way to go Randy! You are great! Did you close through a title company? If so they didn't mind each deal not standing on it's own?
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
This was the fun part. My end buyer did wire the funds, So they did no they were their even though she wasn't. While the people were setting across from me I was actually signing the paperwork for both deals. the only thing they said was boy you have a lot of paper to sign. the whole deal took 15 min. the reason it took that long my grandson wanted the pen, Guess he wanted in on the action.
Randy
www.adeptpropertiesllc.com
Randy,
Double closing on an REO? Was it listed or do you have a personal relationship with a local bank and REO manager? Congratulations!
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
So the people sitting there were the sellers... and the end buyer wired the funds? That is very interesting. I am going to have to talk to my title company and see if they would go for that. It is a lot cheaper than using 24 hour dough. Since your grandson helped you I hope you gave him half or at least bought him a nice toy, LOL. I like to get them started young in RE. That way you can teach im and you stay home and take it easy. LOL!
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
I bought the property from someone with the deal that i would close in 6 months. Then I put someone in the house on a lease to own. then I sold to another investor.I know it sounds hard, but it was really easy. It just took a little time to make a win win for everyone' Most of this deal was put together at the EDGE, With phone calls back to TN.
Randy
www.adeptpropertiesllc.com
Nice going Randy. Glad to hear you are still rockin it down there. Amazing work my friend.
Cathy B
Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...
This is the deal I was working on while we were eating. Now she has a place for double closing. I guess my cafe In AZ did pay off lol
randy
www.adeptpropertiesllc.com
No way he's getting any money, I had to charge him for the knowledge. Hopefully when he is my Age he want be doing nothing except what he wants to.And if I have my way the one thing he will be taught is to give back freely.
Randy
www.adeptpropertiesllc.com
Hey RANDY congratulations!!!! You da man!!.
Excellent job my friend, another notch in the belt
Richie
Good thoughts Randy...hey the conference call is starting in 5 minutes or so.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
How do you always find me, Are you a stalker. O well it just you and if you are I guess its OK. I always enjoy hearing from you know matter were it is. Hope all is going well.
Randy
www.adeptpropertiesllc.com
way to go man !!! i am sure the little guy will be on your heels like you are with matt!!!! keep up the great work brother !!!!!
jay
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is the common man doing common deals making uncommon money. Randy, have you every done a seven day sale or Auction method yet? I'm getting ready to do one with the help of my agent this weekend.
Thanks for sharing this post with your successful story!
"Make it an AWESOME day! (Who else is going to do it for you?)" - Mike Spillman
"As long as there is breath there is hope!" - Mike Spillman
Randy, you are the man!! A 5 figure check??!!!!! You are amazing Randy! You just gave so many people so much inspiration. You are on your way to owning an island!
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Yes an no. I have done it but in a little different way. I did it on a couple of mt lease to own homes, But I did the down payment, and it work great and I had a buyers list when it was done and new how much they had for a down payment.
Randy
www.adeptpropertiesllc.com
Great to here from you and like i said. I like doing what everyone says can.t be done. I just never did like the way can't. Hope all is going well.
Randy
www.adeptpropertiesllc.com
This is exciting to hear! 5 figures! WOW! High five!
So, you basically did this.
1. Found a motivated seller
2. Put it under a Lease option, letting the sellers know you would be selling it for a higher amount.
3. Instead of doing a sandwich lease, you sold it to another investor directly.
4. And they WIRED the funds while you signed paperwork!
SWWWWEEEEETTTT!!!!
So you basically skipped the peanut butter and jelly part of the sandwich?
Want to make sure we all understand it correctly.
Did you tell the sellers that you would keep any profits above the price above what they lease optioned it to you for?
I bought this house subject to existing loan, With a clause that I would refi within 6 months. I agreed to pay the interest only. I then put someone in the house on a rent to own. then I turned around and found me a end buyer with tendent already in place. So now the one I bought the house from is happy. the one that got he house on a lease to own is happy. the one i sold the house to is happy. great cash flow. And I am happy. Had 4 win win in one deal.
Randy
www.adeptpropertiesllc.com