OfflineI am about to make my first 2, yes 2, deals. After finishing Deans books. And interviewing with the tax club, I created an S-Corp. This is taking longer then expected but I remained positive through-out the whole ordeal. Anyways back to the deals.
My newly found realtor and I have been going through alot of properties, both on paper and in person. I have not decided to specialize on any one type of deal or properties. So I decided to go at two differant types. First was an SFR that was listed for 6,900. It has a new kitchen, roof, and one of 3 bedrooms updated. It has one code violation because the garage is falling over, and the city gave me 60 days to repair/remove it if I buy it. It will require some cosmetic work inside but overall its in ok shape.
Second is a section 8 approved 4/2 1600 sq/ft. it was listed for 29,890. Its large and will rent instantly.
I chose this one for my first income house. The owner agreed to CFD of 31,000 @ 10% for two years, with a payment of 375/mo. It took me 3 counters to get there.
I can't find the words to express how greatful I am to dean and his success acadamy for getting me the knowledge and currage to get me moving. I'm semi-retired army, and not much for political correctness or from a high income backround. So believe that I have truely come eons forward since reading Deans books.
I close on 21aug09 on both deals. More to come...
way to go on both of your deals
God Bless in your REI.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Congratulations on your deals. It must be very exciting for you. It is great to know that your success will inspire others to action. Continued success on all your deals. Believe and Achieve!
- Joe
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Hey Bob...
Pretty cool to be able to close your first deal, or should I say, 2 deals on the same day. Now that is one heck of a start! Keep up the great work and thanks for the extra motivation!
And, thank you for your service to our country!
Robert M. Burkett CPA
Stay Active & "WORK IT OUT!!"
Get your "Daily Dose" & check out my journal at the link below!! I would love to hear from you as well!
http://www.deangraziosi.com/real-estate-forums/investing-journals/27368/...
All this positive feed back is outstanding. And my nerves are on edge over it all. But Last evening I realized that even though these deals are going to be in the books soon, I can't stop looking. I was feeling so good that I forgot that the world keeps spinning, and the money needs to keep flowing. And I took a few days to absorb this. So I must keep to my schedule of looking out and making offers. Research+Planning=results.
I have been reading a lot of entries here but all for a start up procedure. Thanks for the initiative at least to have a head start..though. Anyway newbie Dean's member like me of course would like to read and hear from someone who initiated the deal and finally finish it. Its always easy to find a deal based on the books we read. The issues that I am encountering here are the following. Short sale houses. Even if you offer something based on the results of your due diligence approach, the bank will not just approve it. The owners will have to justify it why they chose to short sale their property. This process will take a long time. Anybody here in the Dean's family who actually made a deal and finally finished it...and made a profit from it. I have been reading this for a while and I never find one yet or maybe I just missed it. Anybody who would like to share on how you made it..I would appreciate it very much and not only me maybe some colleague there are also waiting and very eager to read one. Thank you....dom