$3500 for our first deal through 30 day QCF

Wow, teamwork is good. Great job!!

Congratulations on coming this far! I hope you are able to iron out that $1400 hiccup.

Even if your buyer still insists that the $1400 lien settlement come out of your fee, the good news is that you've proven to yourself that this system WORKS and that you were able to make it happen! Not to mention you're still making $2100 on your FIRST deal!

Way to go on the duplex. You always hear the Rea crushing new investors dreams. In this case it was the Rea . Keep up the momentum.

Susan and Steve,

Congratulations on your almost first deal! Your perserverance is certainly paying off!
Keep us posted on the outcome, and I am sending you good vibes all the way to the closing table!

Wishing you success,
Valerie

It makes you wonder why the seller didn't want to pay for those leans? Can you re-negotiate the price with the seller to reflect that $1,400? What was that judgement?

Other than that, way to go guys! Way to take action! To your success ~>

Congrats! You can hear your excitement in your post, can't wait to hear it once you have that check! #2 is on the way!

That is great to hear. Once you have this one the next one is on it way. Just stay out there and working the offers and making things happen and soon you been at edge 2012 as one of the success stories. Cant wait to see you there

Darrell

Susan & Steve-way to go

Good luck with the closing! Go get that first check of yours man!

Hi MurdockSusan:

Congrads on your success and your hard work. However, I'm also trying to work on a deal, that I still have a chance of pulling off. I am curious, how did you write the classified posting on Craigslist to secure a buyer?

If you could write it out, or post a direct link to the classified ad, I would appreciate it.

Congrads to you for a job well done. Action=Success.

congratulations guys....

best wishes.

Linda

Hi Doesnt an victory feel so good an you are almost there, you can only bottom so far an then with some effort you can shoot straight up, your like a beautiful flower in early spring when it starts to warmup an the ground starts to deliver this dormant plant an OH WHAT A BEAUTIFUL BLOSSOMS IT YIELDS,you are that beautiful FLOWER, enjoy your success for we can feel your joy,a job well done, Jim

Congrats and way get your feet wet!

Here is the link to our Craigslist Ad. I HIGHLY recommend doing the utube video and postlets link for your property. This made it very easy for our investors to check out our deal without even going to the property. Good luck!

I would help if I added the link. (oops)

http://oklahomacity.craigslist.org/reo/2597313786.html

-Susan

OK friends, let's not celebrate yet! My seller has gone a little mad on me! She's threatening to pull the whole deal based on these liens and I'm putting my negotiation powers to the test here. I need all the positive energy you guys can send me!!!!!

Hey Susan/Steve, just do right by everyone and hopefully it'll return back to you! Emphasize that you're trying to create a win-win-win situation here. And as Dean always says, be extremely polite no matter what (yet tough and fair). It'll go a long way

After all, the first deal is just the beginning - don't let the emotions get to you!

That is kind of what we are doing, but I'm sure I could be more gracious and just give in a bit more. Here are the solutions we are offering. We are offering to her to do whatever we need to do to close the deal and I gave her three options to choose from in order for that to happen. I have to take a step away every time she send an email because it fires me up, but I know that doesn't get me where we ultimately need to be. It will work, it will work, it will work.

Basically she wants us to pay the liens on the property which were $1400, which leaves us with a profit of $2100. She bought this property at a tax sale a couple months ago for $17000 and is selling to us for $32500. She copied the end buyer with a scathing email saying that she was going to cancel the deal if we didn't pay the liens and such, which is fine because we were upfront with the numbers with our buyer from day 1, it was just kind of unprofessional on her part. No big deal. Since then, the buyer has gone missing, can't get in touch with him. We promised the seller from day 1 that we would back the deal with our own money if we didn't find another buyer. I have since told her that our buyer is now missing since her last email and that if she decides she is willing to eat the liens, then we will still back the purchase with our own money and finish the deal even if the buyer never shows back up, but if she is changing the terms of the contract, then I will promise nothing if the buyer never shows back up. Her next option was to split the fees with me and I would hunt down the buyer and negotiate him back into the deal and make it close, but if I am ultimately unsuccessful, then we would still not back the deal. Her third option would be for us to eat all of the lien bill and they just wait to see if the buyer ever shows back up and if he doesn't, the the deal is done, but I will not hunt him down or reel him back in with any effort.

So, I guess I'm testing the waters a little bit here. I know she's moving to India on November the 1st and needs the property sold before then. I hope this goes through, but either way, we've learned a lot. I'll keep you all posted. I asked for a response from her by 5 PM tonight. That's in 3 hours. She will not talk to me on the phone per her emails because she is so mad about this deal.

I got a response from the seller and I think our options reeled it back in. We are now splitting the lien fees, so that's cool. Now we just need to set a closing and we are golden!

The buyer is a little irritated about the whole mess. I wouldn't have put his contact info in anything you send the sellers. If you do, they could try to go behind your back & cut you out of the deal. I'm not saying it would happen, but it's possible. Maybe all this mess was getting to the buyer & he got cold feet? I hate it when lack of communication happens like that.

Those are all great options, for her. I hope this deal works out for you guys.

You are correct. That is a rookie mistake. I noted that one myself last night, so lesson learned and I will not do that again. Originally I was thinking it was to show that everyone was on the same page, but I felt very vulnerable for a few hours not knowing if they would go behind my back to negotiate their own deal. So, I will not do that again. Luckily, our buyer is a stand up guy. I have spoken with him and I am confident that he will not do that to us. But, I'm lucky there. He could easily negotiate a better deal with the seller if he wanted to, I know she would be happy to accommodate. Either way, it looks like we are back on track. The buyer was never mad, but the seller is not happy that we are making money off the deal even though we told her this was possible the whole time. Geesh, this stuff can make your blood pressure rise! LOL!

It's looking good. We have our closing scheduled for today at 5:30 PM. Yippiededoo! I supposed I should change the title to $2900 for our first deal through the QCF! LOL! I'm just excited that we are almost ready to say that our first deal is done. That will help us with our confidence to do many many more deals. We went to our REI meeting last night and it is so awesome to meet so many other investors that have seen success and are willing to share their wisdom. It also recharges us and gives us a kick in the butt to push forward. We are trying to work up to get my husband out of his J-O-B by the end of this year. That means we've got a lot of work to do!

Oh, and for people who are challenged with time. We are super challenged with time. We have 2 small children (the youngest is 6 months old). I run a business of our own during the day where I have 3 other employees, and my husband has a full time job. To find 5 minutes to watch the news or see what the weather is like is really challenging. We have had to be really creative with time management. It helps to have a very specific thing that you are working toward (like not having a real job by the end of the year) and having a very specific schedule plan. We have my Mom watching the kids one night a week so Steve and I can catch up on our real estate deals and our other business stuff. The other nights and weekends we do one follow up call per day. It's not much, but it's something and frankly it's about all we can do. Steve has a little down time at work to run some comps or browse some listings or foreclosures, but not much. We take the kids with us to drive for dollars while they nap in the back seat (parents of the year over here. LOL!) and they ride along when we plan bandit signs. Get creative with your time. Have a very specific plan and you can do it! Anyway, we close in a few hours, I'll keep you updated! -Susan

We closed! $2877 profit off of never owning a property and it was all learned through the Edge 2011 and 30 Days to quick cash formula! Thanks Dean and team! On to deal #2! -Susan

Great job on your first deal! Just curious, what strategy did you use to "lock up" the deal? Did you use a REA?

I think you may be the first deal to come out of the 30 Days QCF program.
Well done!

I'm posting a link to this thread in the 30 Days QCF thread so people can see it can be done.

You did it....happy,Happy,HAPPY!!!!!!

Congratulations to you guys....what a great success and learning experience. Way to persevere! You guys didn't throw in the towel when things started to go a little awry and you closed your first deal. Very inspiring. I am a mother of 3 with a full time job and a husband that is deployed in the military, so your words of encouragement and advice about finding the time really hit home. I have been studying a lot of the materials and also purchased the RBBP, but am definitely not taking enough "action" to get a deal done. You have inspired me to "just do it" and deal with the uncertainties as they come along. Thank you for that and again great job!!

We did not use an agent. It was a "For Sale By Owner" and we found it by driving around or AKA "driving for dollars". There was a sign in the yard and we called it. We locked it up with our own contract and put $500 down for escrow. We were considering buying the deal on our own with our own cash, but we thought we'd try to wholesale it just to see if it would work. And, it did. I personally don't think we got this at the great of a deal, but Steve and I were finally like, we just need to do this and quit making excuses about what we aren't sure of or don't know. We learned a lot in the process and now our confidence is boosted and I know we can do this a thousand more times. We are working on reeling in our next deal. We have 2 different people we are in talks with who called us from our bandit signs.

Thanks for the note. I'm glad I can help inspire. I cannot imagine having 3 kiddos with a deployed husband, so you will be in my thoughts. I feel like I need to quit complaining about not having any free time because at least I have my husband to help with our kids. LOL!

Great deal that is awesome!! be sure to let us know about your next.