OfflineHey everybody. I just wanted to report in that I have completed my first deal. So here is the story. The house is a HUD home, 4 bed/2 bath, .50 acres, I was going to submit a low offer and I was going to fund it using private funds do a little rehab and then show it to my buyers. My partner providing the funds backed out. My other business partner who was going to help me rehab it backed out because he is currently campaigning for city commisioner which is taking all of his time. AHH!!.... Frustrating!!... So I just started calling of my buyers to see if they were willing to do a finders fee agreement if I just found them a house. Apparently that was the right choice and the only other option for me at this time so I made it work. My buyer happened to be my real estate agent. The thing that made this house unique and not many people know about it is that you can only bid on it electronically and their are only 2 agents out of 40 in my home town that know how to do that. LOL. She happens to be one of them. She hasn't even closed on it yet but plans to live in it herself. She has already given me the check. I ended up making $1,000.00 with only 1 hour of my time into this. That's what I like to call NO RISK and NO MONEY DOWN!! I have another deal that I have located for an investor and if all goes through then I should make anywhere from 3k to 4k. Ill keep you all updated.
Until then, best of success to everyone in real estate investing!!! Godspeed
Josh Ogden
Great job Josh. If one thing doesn't work, find another solution. Good thinking.
BRE #01956371
Way to go Josh!!! Congratulations and keep us posted on future deals.
Nancy
Congrats on your deal no money no risk thats the way to go
Congrats on your first deal
you're on your way
George41
George
Thanks for all the comments you guys. I can't wait to get that next deal done... If you haven't got your first one done yet, don't worry it will happen soon. keep pushing forward
congrats on deal #1 with #2 not far behind. Great reaction to a possible problem with your deal. That's thinking.......Jan
My Question is how do you determine what percentage to change for finding the home?? do you go by the price of the home for Example do you change 1% 2% of the value or what??
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
...Congratualtions on your first deal! That is great news. There is nothing like the feeling of getting a deal wrapped up! The first deal can sometimes be the most difficult. Keep up the good work! Wishing you continued success on all your future real estate deals! Believe and Achieve!
- Joe
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Jan thanks for the compliment. Im just happy the first deal went through Finally!! It pays off to keep pushing forward. No boundries I haven't really put a cap on what to charge them for a finders fee. This was my first so that would have been about 1%. It just depends on the deal really. For my next deal im working on, 3-4k is just a set amount that this group of investors is offering if they close on the student housing I have located. Im thinking I will start charging 2% of the selling amount. My understanding is that the average commision for a realtor is 3%-6% of the selling amount.
ok understand totally!! looking forward in hearing about ur next success!! God Bless
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
Great info!!Thank you I will remember that!!
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
Josh, you had a plan and an exit strategy and when the first didn't work out, you moved to plan B. Way to go. It is great to hear.
Cathy B
Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...
Congrats man! I c you joined two months before me, so my time should be approaching real soon. Good technique to a familiar strategy!
I deserve success...PERIOD! Reggie Peoples-
...On your first deal, Jogden! Your perseverence paid off. You're an inspiration!
Much continued success!
Kim
"Imagination is everything. It is the perview of life's coming attractions."
Albert Einstein
Way to go. thats how I landed My first deal, teamed up with a money partner and sold my note for a discount no risk and NO MONEY DOWN! Way to go josh.
Keep your eye on the prize and you will thrive!
You like many others have proved that real estate investing is feasible, durable and can be acquired. It is all about taking action and never giving up. Congrats on a deal well done and another on the horizon. God Bless.
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.
Way to go Josh. Congratulations on your first deal. You did not give up when it got tough. You stuck with it and it paid off. Remember always have a back up plan.
Good job getting the deal! Even though it looks like you were running out of options you settled for a finders fee and still made 1000 bucks! Congrats.
I myself have two deals in the works hope it works out!
Here to your success and mine!!!
Best wishes and happy success!!
Adrian Marquez
If you want to stay in this business don't put all your eggs in one basket. That hole deal rested on one person giving you money. Now you need to find more people with money so if one backs out you have a back up plan. And then have a back up plan for your back up plan. You made money by selling to your buyers. Great job. And last but not least don't get made at your buddy. He didn't give you money today but that doesn't mean he wont give you money tomorrow. Don't burn bridges kept it positive. What you put out you will get back.
When I started in Real Estate my boss told me the best why to ever get back at someone in business is to make money and be sucessful. One day you will share the outcome of this deal to your buddy
Adam
Its nice to hear of a success for the first timer. We ourselves are looking forward to that one as well. Keep us posted on you future progress.
Wishing you Happiness and Prosperity,
Rick & Peggy
Wishing you Happiness and Prosperity,
Rick & Peggy
Eagles Crest Properties
Good job! That's how I started. My agent/partner bought my first two deals! Well........alot of deals!!!! We made lot's of money together. I have just found another agent that has the same motivation. Maybe you guys will team up. Way to go! Still a very good deal. You made something happen regardless. Quick thinking. Get ready for the next.
To get something you've NEVER HAD
DO something you've NEVER DONE.
Quick thinking and working to find a way to make the deal work! Keep it up!
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
That is SWEEEEEEEEEEEEEEEEEEEEEEET!!!!!!!!!!!!!!!!! Nice job and congrats on the first check. Now that is reality hitting like a ton of bricks, only the brick is a sweet, soft, lovely, nice smelling, comforting check! Congrats again and let us know with the other deal what happens. Good luck.
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
Thanks for all the comments and advice everyone. Its all very uplifting. You all have helped me get this deal done because of the information and supportive messages you have all posted on this site. Thanks again and Im looking forward to getting my next deal done soon. Keep pushing forward if you havent gotten your next one done. It WILL happen!!
Josh
12:49 pm WEDNESDAY 5/12/10 GREENACRE Florida Congratulations
JOSH!! I'm working on two properties right now and hope to be in your shoues soon STUART
Congratulations on your first and very creative deal. It sounds like you can think on your feet and get the job done when you needed it the most.
Here is to your next deal and beyond!
Laura
BMW Investment Properties LLC
What a win-win situation you created. Much success on your future sales!
Peace and Blessings,
“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light not our darkness that frightens us. Actually, who are you not to be? You are a child of God. Your playing small doesn’t serve the world. There’s nothing enlightened about shrinking so that other people won’t feel insecure around you. We were born to make manifest the glory of God that is within us.”
- Nelson Mandela
hey thats great. Continue to do more deals! I haven't done my first one yet. Is it true that it gets easier after the first deal?
Josh,
That is so AWESOME Josh!! I am glad that you have proven once again that you can make money in Real Estate with no money and no risk!!
Great Job!!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson
stuartjaykatz, laura51,wealthy blessings, prosperus1, and free indeed, thank you all for you kind comments and support. And to answer your question prosperus1, I do believe it does get easier. I feel like this huge weight was lifted off of my shoulders since I got the 1,000.00. I could have made more if I used hard money or private money to fund it but honestly it just wasn't feasible due to the situation I am in. The second deal I am waiting to hear back from my buyers. They are doing their due dilligence on the property. If all goes well, I could be making another 3 to 4,000.00 on this one. Woot. My fingers are crossed. Keep pushing forward and do what deans book tells you to do. Its worth it. Alot people have the materials and tools right in front of their faces but NEVER take action. Like Nike says "Just do it"
Josh