signed contracts on another one

a deal is a deal! it's a great feeling when you know that you used a strategy you never knew about before joining this site and learning from DG.

Nice going!

What kind of terms did you get and why was he motivated to sell a property that cash flows like that.

you are so right. a deal is deal, but a good or great deal is a breath of fresh air. i just want to get to where i'm doing deals every week, but i'll crawl before i run if i have to .
keep moving forward, rob

i had to pay the assignment fee and i had to pay the seller 1k down.
he holds the note for 2 for 2 yrs. @ 5% int and then 10% interest after 2yrs.
all i know is he lived in this house until he got a newer one in a slightly better neighborhood. it sat vacant for 2yrs. and a friend needed a place so he rented it to him and suddenly he was a landlord and didn't want to be. that was his story, but he has no problem going through the house to tell me what he's done and what he feels it needs.

update: the seller wants to sell me the note at 1/3rd off agreed price so if anyone has about 15k laying around i'd sure like to talk about a win/win deal.

keep moving forward, rob

congratualtions!

Rob-First off ccngrats on a successful deal! Just out of curiousity how much do you plan on putting into the rehab? Also, how long did the deal take from start to close? Last thing where did you do this deal? I see you have a few locations listed under your profile so just curious if this is somewhere near you or an out-of-town deal.

Thanks again for sharing the information with us all and keeping the motivation high!

thank you and thanks for stopping by.
wishing you much success and i know your first is "closer than you think".
i know you might sometimes think you don't know what you're doing. i know i have those moments on a regular basis lol. you've been on here posting and contributing long enough to be a dg superstar, you know more than you think you do. go get yourself some success. we're all cheering you on.
keep moving forward, rob

thank you. i'm so happy to be starting to pick up speed. the truth is i've been here 3yrs. and have barely finished anything i've started i've done a couple of deals, but if i'd have done the steps, built the team, made the calls and call backs, i'd be much farther along in my journey.
okay how much to put into the rehab? it needs cleaning and paint. i could get by with the stove that's in there, but it's gas and it's old so i'm going to replace that a couple cabinets and trying to decide whether i want to redo the hardwoods or just put in a cheap carpet. i estimate no more than 3k.
how long? 3 days. only because i had a job i had to finish.
this property is in md. it's about 1.5 hrs from me, but i wasn't getting anywhere in my immediate area.
thanks again ryan for the visit.
keep moving forward, rob

This is a great thread. I love creative deals. I put together creative deals like this all the time. Cashflow is king. with a ton of properties that are generating cashflow the money just keeps coming in every month with very little effort after the deal is set up.

I just sold a property yesterday that will bring in $244 a month cashflow it is a seller financed note for 6 years. I don't have to work for that money any more, it will just keep coming in and in. I love them.
Great job

and thanks for the visit. yes i agree cash flow is king. i think wholesaling should be in every investors toolbox, but cash flow every month coming in is great!!
keep moving forward, rob