OfflineDeal is done!! This one was in San Diego. Was a short sale. Family friend. They were so emotionally drained from the loss of two rental properties that they just wanted this gone. I told them I could sell it for them. I was still learning how to work the SD market and on this one worked with an agent I met at one of the local investor clubs (SDCIA).
Purchase price - $250k
Rehab $30k
ARV $350-380k
In this deal she split 50/50 her commission with me. I had the property, she had the cash investor. The house is near a major university here, SDSU. Perfect rental! Her buyer is doing the rehab within 3 weeks (they do on a regular basis) and then selling to buy/hold investor. I will also get 25% of the commission on the second deal. If I find the buyer then commission will increase.
Beauty of this is that we put in the offer with the bank in May and deal closed yesterday, Sept 20,2011. Which is pretty fast in this market on a short sale. The only reason it didn't close in August is because the owner (my friend) was travelling and so delayed the closing a few weeks.
This was with BOA. Cash buyer. Agent is very familiar with working with Investors. She has her own buyers list. She and I signed an agreement between us outside the deal. She paid me after she got paid via a cashier's check, which I received today and deposited immediately after scanning it into my record book!! $4,700.70. Not a bad start!
I have another house I'm showing another one of her buyers and we - agent and myself - are teaming up on other SS via a preforeclosure list we are purchasing or she is purchasing and I am paying half of cost plus doing the leg work. Not sure how good the list is but it only costs $30 per month for 500 names based on criteria we provide. If anyone has insight into this please let me know. Even if only one deal out of it...seems well worth it to me!
Now my DG journey. I purchased Dean's Profit From RE Right Now book in March. I began following his steps immediately. One was go to an REI meeting. I began getting my feet wet and meeting other people while continuing on DG path...getting on the forums, reading and learning learning learning. At the REI meetings I just opened my mouth, asked questions and got more comfortable with each meeting. I got my friend to let me sell her house so then talked it up when I met this agent at the REI meeting. All worked together from there.
Hope this helps and encourages someone!
Jill Holden | San Diego
Investor Services
Team Development
what will encourage me, is when I get a check!!!!
Bless and be blessed!
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Thanks for the encouragment. I'm just getting started.
Congrats to you. It is a long row to hoe isn't? Short Sale to boot. That is even harder ground.
Michael Radtke
www.nationalpropertyscout.com
Slide Show:
www.nationalpropertyscout.com/Slide-Show.html
Well Done looking to connect with more Southern California wholesalers and putting together buyers list. Let me know if your interested in connecting.
Eric
Volkers Ventures
Good Job Jill. Please make sure I'm on your SD buyers list. My partner just came across a lot of Private funds & looking to buy 1 or 2 props a week, here in SD.
Jason S.
San Diego, CA.
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your hard work and perserverance has paid off!! that is awesome! worth of a nice shiny diamond under your pic!!
That was not bad for a short sale at all! I've been dealing with a short sale up in Norcal for 1 year now!!! I'm trying to buy it to flip, but maybe I'll just look for a cash buyer like yours instead!!
thanks for sharing the details!
Valerie
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/...
now just keep on going!
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
That's awesome! Thanks for your encouragement as well!
Gives me much hope!
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
Go Jill! Onto the 2nd deal!
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew
Jill:
Iam encouraged by your success. I wish more for you in the future.
Hello congrads to you!!!!!!!! Knowledge + Action = Success, which equals Cash!!!
"Action and Mistakes" always-outweigh "Analysis Paralysis"
...Just do It"
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"Action+Knowledge=Success....$$$$$$$$$.....
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Well Done Jill. keep us posted.
Hi Jill keep up the excellent work an we are so very proud of your fine work, Id love to find a realtor that would do that, thanks, Jim
jbischoff
Great job Jill! SWEET isn't it?!?
Congrats!
Make it happen!
Jen
I'm very happy for you.
Wake Up In Your Dream, Because In Your Dream You Can Do ANYTHING!
Being Scared Is Not An Option.
Great job. You're also getting more offers to partner in this thread too, how awesome is that?
Nice rock btw.
Mark K.
Life Disclaimer: Past Failures are NOT indicative of Future Results.
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I knew you could do it!
Keep attending those investment meetings and take your stack of business cards to pass out.
Keep Going!
Rodney
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
Go Confidently in the Direction of Your Dreams. Live the Life You Have Imagined.
- Henry David Thoreau
Website that get's results: www.jracrealestateinvestments.com
You took action that produced great results. Keep up the good work.
Joe
Think less, Do more, Get results. - Dean Graziosi
http://www.rcmfunding.com
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Way to go Jill!
Your attitude determines your altitude!
Thank you all sooooo much for the encouragement. i can not tell you how good it feels to read your comments. So very rewarding!! I really couldn't wait to post this success because it has been being on DG reading so many stories, tips, and motivation that kept motivating me forward.
Now, of course, can't wait to post the next and the next!
Jill Holden | San Diego
Investor Services
Team Development
Congratulations! You have taken the step so many others are afraid to take and you were rewarded.
Keep at it!
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
...are a girl's best friend (so I heard! ;-j)! Congrats on your deal! ONWARD!!!
Congratulation Jill on your first deal, this is awesome, and very encouraging, I am happy for you, Halina
Keep em coming.
To get something you've NEVER HAD
DO something you've NEVER DONE.
I am glad to hear that and I know this is just the start and looking to be reading more of these posted from you. Keep it up
Darrell Ford
Lifetouch Properties LLC
www.lifetouchproperties.com
"Failure equals my death, I Shall not Fail."
Congratulations on a job well done. Can't wait to make my first deal. Going to ask my real estate agent if she has her own buyer's list. Good idea.
Carol
cjkingproperties
Jill, you deserved it. You were very persistent and used
creative methods to make the deal.
I cannot stress importance to move forward no matter what
obstacles you think you may encounter on your way. All of them
are gonna be overcome, if you start focus on the Outcome.
We all can do it!
Congrats again, Jill,
Dennis
- Truly believe in yourself! -
Dennis
Congratulations! Reading about your deal inspires me to keep moving forward. I'll be waiting to read about the next... and the next.
btw... I love the way you get another 25% later on down the road. You created a deal that keeps on giving LOL.
Cheers!
Aniko
Wow! Way to go, and I see you are fairly new as well. Congratulations!
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I'm just getting started. Thank you so much for the huge encouragement.
Awesome.