5th Deal Closed! Hoard House Wholesaling!

5th Deal Closed! Hoard House Wholesaling!

Hello fellow DGr's,
I was just on the live cast and wanted to say it was great Dean, thank you. It was more motivational than real estate, and that's what I needed right now. Zig Ziglar said "People often say that motivation doesn't last. Well, neither does bathing - that's why we recommend it daily." Smiling

So, I'm writting to share the details about my 5th deal that just closed about 2 weeks ago. I call the title to this post "hoard house wholesaling" because that's basically what it was. The sellers had a house free & clear in the city I love wholesaling in because there is a ton of investor activity and I know I can sell anything I get under contract, even this dump of a house. The tenant was hoarding garbage, newspapers, food, etc...I'm not gonna go into detail, but if any of you have seen that show "Hoarders", this house should have been on it. It was absolutely disgusting. When I first met the sellers there, and walked through the house, I didn't even want to offer on it, but then I said to myself "what the hell am I thinking, of course I'm gonna offer on it, it's the crappiest house on a nice street in a great area"...here's a break down of the deal in order of how it happened (pay attention newbies):

1) Seller called me from a bandit sign (Dean strategy)

2) After I got the call, since it was a very motivated seller in the area I like, and the home was owned "free & clear", I IMMEDIATELY made arrangements to see the house THAT day (who knows, maybe the next day would have been to late, and someone else would have gotten it first,right)

3) Talked to the seller at the property for an hour (building rapport with seller and finding his motivation button)

4) I Offered 15,000 cash (I knew he would accept it because of the condition of the house and he even said he'd sell it for 20K in a second, and I knew I could make a profit if I locked it up for 15k) and the seller said "Give me a contract, I'll sign right now" (I had a contract with me and I ALWAYS take one to any property I look at, you should too)

5) Put ads on craigslist that night and 2-3 times a day for a week. A lady called me who I have never met before, said she wanted an investment property in that area and wanted to see the house. Since the house was vacant (tenant had moved out to a nursing home)I had a lockbox on the door for easy access to show my buyers. I walked the craigslist lady through the house and she said she was very interested and would offer on it the next day, and she did. She didn't offer anything close to what I was asking (25,000) but we did agree to a cash deal and close in one week for 16,500

6) Signed the contract with the buyer the next day and received a 1,000 earnest money check from her and took both contracts to the title company

7) 8 days later I picked up my check from the title company. Profit= $1,500 (maybe 3 hours invested)

So there you have it. Hoard House Wholesaling 101 Smiling
For any newbies reading this who haven't done their first deal yet and have questions about any of what I just typed up, read Dean's book "30 DAYS to REAL ESTATE CASH". All your questions will be answered in that book. The book is about ONE thing, wholesaling. Get it, Read it, DO IT...
Thanks to everyone who reads this and comments on it, and thank you once again Dean for weekly wisdoms and live casts...deal 6 will be on here soon!

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More REI strategies please

I think we've already gotten enough motivational pump. There is so much one can hype themselves up to, action and knowledge is what it really takes to succeeded in this business.

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P.S. - Everything else is immaterial, irrelevant, and unnecessary.


Congrats

I'm So Happy For You. Ride on!!

Thanks For Sharing

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TC
Miami Florida

"If you are not doing something that help the universe or God or your family, or YOU, is that something you should still be doing?"-Dean Graziosi

"Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!"- Joe Jurek

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Dang JB

Way to go girl! So nice, yes cant wait for deal 6!

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Tony

Go faster do more! GFDM!


Congrats JB!

nice deal! That's great that you share the details so that new investors can see that DG's strategies do work!

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Valerie

“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...


Hey Joe

Great job and congratulations!

Michael

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Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


Joe

Congrats on doing this deal! So many people would have walked away from that mess! Keep up the good work.

Are you or did you used to be partners with Kelly?

Karen

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"You're never too old to be what you were meant to be!"

www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...

"Shining Like a Star & Dancing on Sunshine"

"Shoot for the moon! Even if you fall short, you'll still land among the stars!"