My First Deal! 3.5k Finder's Fee

Hey Everyone -

I thought I'd tell you about my first deal.

I acquired the lead by establishing a contact on the inside at a Bank, and representing myself as a Cash Buyer. I've been working on my Buyer's list for over a year now, and it's a pretty impressive accomplishment. I estimate I represent hundreds of millions of dollars in Cash, and private investment funds. Needless to say, this in itself, gave me the confidence to go ahead with my venture - knowing that, if I found a deal, I'd certainly have a buyer.

So my contact gave me the inside on a deal which was about to fall apart, and I locked it up at 423k...sold it for 430k, with a rehab of 50k, and an estimated ARV of 620k. That's 140k profit potential! Unfortunately I only had a 48 hour window for this one, and that ended up requiring me to split my Wholesale fee with another Wholesaler who brought along the buyer - and to aim for 7k to split, rather than 12k - but I can't say I'm not contented to have had this one done. I'm 23 years old, and I've been battling with a lot of self doubt, since this has taken a while for me to shape up. But, as the saying goes, "when it rains, it pours," and this coming week is shaping up with several deals on my plate at once.

Thanks for the encouragement. I hope this encourages you. Now all I need to do is keep my motivation up, to power through the coming period of establishing myself as a perpetual deal finder.

Ryan Hart