1st deal in a while, House #3 Closed 10/08/10/ up date

Well we sent off the pakage with the EMD and contract. We will close in about 45 days or so.

I contacted a home inspector that I had used before in that area. In Illinois and Indiana the inspection only cost $200.00 here in California we spent $395.00 for an inspection.

The winters are warmer here.

Steve.

Congratulations!! You two are doing a great job moving forward. It's amazing how inexpensive houses in small towns can be. Are you using your own money or the banks? I love reading all your posts, keep it up.

Cathy

We will be using our own at first or I should say our friend MC card will give us the money. Then we will do a refi.

Steve.

Hope everything goes well on inspections.

You know where I got the credit card deal from right. Page 198 in Your town your real estate profits. The Ceriani story.

Thanks Gary and Jill.

Steve and Veronica.

We have only done it was because it was a killer deal, but knowing you have the ability to do so gives great peace of mind. I don't recommend this technique to a newbie with no deal experience or marginal credit, but it worked for us because we were in the process of building a spec house, after buying the lot for cash; buying an additional lot to flip at the county foreclosure auction, so that was paid in full with cash, so honestly we were tapped out when this other deal came along ... but putting out 70-72K for the house & 8K for the rehab, turned into a sale of around 135K. It was worth the risk !!! Thanks Steve & Veronica, it's always great to share our stories. Gary/Jill

It is like doing a hard money loan from you to you. You do need to have your refi lined up.

Steve and Veronica.

Steve and Veronica,

Congratulations on your deal! Thanks for letting us know and keep up the good work! Carpe Diem ~ :0) Stacey

way to go! have fun!

Steve and Veronica you are doing great in making your properties list grow
and hope everything works out really well for you too,keep up the great spirits for everyone here.Hi hopes !

Thanks Stacey, Linda and Mrs Wilson. Thanks to all of our DG family for the motivation to make deals hapen.

We hope to have a lot more good news to come soon.

Steve and Veronica.

....Congratulations on your deal! The midwest is an awesome place to find real estate deals and it is great to hear that your family can assist you with your efforts. When you are looking for an opportunity, they do appear. We wish you continued success. Have a great week ahead. Believe and Achieve! - Joe

For your motivation and support. We do hope or I sould say plan on buying a lot more homes in that area.

Steve

You have surely put your real estate knowledge in action and made that leap. We are so proud of you both. Congrats on a great job. God Bless.

Sandra

I am so happy to hear of your successful bid and your "unique" financing. Congratulations and I wish you much continued success.

Congratulations on your deal!!

Lea

Sandra, Scott and Lea for the kind words. Our home inspection is tomarrow,we hope it goes well. The only thing that will stop us is if the inspector says to tear it down. I don't think he will say that. I believe it will be a good deal for us.

Thank You DG Family

Steve and Veronica.

I spoke with my brother in-law who lives close to the house we are buying and he had a lot of good things to say about the house. He told me it was in a lot better shape than he thought it would be for 15k. It mostly needs a good cleaning new paint and carpet.

My Dad got to the house late after the inspector left but the agent was still there to let him in the house to look around. Dad told me about the same thing as my brother in-law. We feel good about this house so far. It will be a great investment.

Steve.

Great !!! Hope it really turns out to be that good, the one we just bought a couple of weeks ago is turning out to need a lot more than expected. Still was a good deal, just more work, we're getting too freaking old for this(lol)
Gary/Jill

I hear ya. I wish we would have started this REI a long time ago.

I hope when we do start the clean up and repairs we don't find more work needed on this one.

Steve

Veronica and I were just aproved for a 20k personal loan. That will be 100% finacing for this 15k home. Plus have some money for repairs. after the repairs are done and renter in place we should be able to get a mortgage for around 40k and pay off our personal loan and repair cost. We will have a nice positive cash flow of around 300 a month.

This may not be a big deal to some on this site and others it is a great deal.

We only have to do 60 more deals to catch up with Randy, we are on our way.

Thanks to all of our DG family.

Steve and Veronica.

Congratulations!! Steve and Veronica on your first deal and I can't wait to hear about your second one.

I wish you continued success!

Good going Steve and Veronica. I wish the best of luck to both of you. See you at the top!

We got a call from our agent today. He said we should close on the 5th of October.

Steve and Veronica

congrats on making your dreams come true Steve and Veronica

Thank You Jon. Your dreams are coming just stay on the right path.

God bless

Steve and Veronica

Anytime, Your a great help and inspiration to us all. And thank you for your support I refuse to give up

the only way to truly fail is to give up!!!
"If the person your talking to doesn't do it they don't know what there talking about so listen to the ones that do it every day"

This is how I see it when someone tells me it cant be done

Closing moved back to the 8th. We hope this date stays. We want to get this home rented out soon.

Steve and Veronica.

Today we closed on this deal. My sister in Indiana signed the closing papers today. We gave her power of attorney to sign for us since we live in California.

I talked to a Realtor on 10/07/10 in that area that sold this house for 50k a few years ago and he agreed that it should only take about 6k to fix the place up nice.

When it was all done with closing cost we paid $15,961.00 for the house that also included a home warranty. It was 100% finaced with OPM. We are starting the fix up and plan to have it rented out by 11/01/10 for $500.00 a month. After we do a refi we should have a positive cash flow of $300.00 a month or more.

A big thank you out to Dean, Indiana Joe and Stacey, Randy428, and the Ceriani's for all the suport advise and motivation to make this deal hapen. Thank you DG family and my personal family in the Illinois and Indiana area.

Steve and Veronica.