OfflineA few months ago I posted about how I was able to make over $50,000 in 1 month wholesaling. I hope that inspired a lot of you to take action, because I was able to do this while battling with Ulcerative Colitis and Crohns Disease on a daily basis. I know everyone has their own struggles but you must think positive and never let anything limit your success in life.
I did just that and was able to push the boundaries even further and accomplish a new record for myself.
I was able to make $40,000 in wholesale profits in 7 days!!!
I posted copies off all the checks on my blog (which you can find below in my signature) for proof for anyone who needs that extra "see it to believe it". It's under the topic: "Status Update: Another Record & Still Going Strong!"
Here is a brief summary of the 5 closings:
Deal 1: (10/19/11)
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Contract Price: $15,000
Sale Price: $20,000
Our Profit: $5,000
Deal 2: (10/19/11)
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Contract Price: $7,000
Sale Price: $12,000
Our Profit: $5,000
Deal 3: (10/21/11)
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Contract Price: $10,000
Sale Price: $20,000
Our Profit: $5,971 (this was a double closing with a partner)
Deal 4: (10/25/11)
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Contract Price: $48,000
Sale Price: $70,000
Our Profit: $22,000
Deal 5: (10/25/11)
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Contract Price: $44,000
Sale Price: $46,500
Our Profit: $2,500 (Approved short sale given to cash buyer for fee)
The total profits in 7 days was $40,471!!
My wife and I were able to basically take the whole month of September 2011 off after doing our $57k worth of deals in August. We took the time off so I could focus on my health and getting better (I was very ill in September) and my wife could take care of her sick grandmother. We probably only worked about 30 hours the entire month of September than hit the ground running in October and we broke another personal record by closing over $40K in 7 days! This is the kind of freedom Real Estate Investing can bring you! We are consistently closing 3-10 deals on average every month right now and hopefully will have 2 more closings before the new year.
I now have a new goal (and expect) to do over $500,000 in wholesaling profits in 2012. I really want to start training and partnering with others around the country who are in major cities, so I can share the experience and knowledge I have gained since closing my first deal in September 2010.
If you live in or close to a major city you can work in, feel free to pm me your email address if you are interested in partnering up and working together.
Stay motivated guys and remember that REI is all about mindset! Stay positive and NEVER GIVE UP!
To Our Success!
Larry F
TheFlipKid
Check Out my blog at: http://www.theflipkid.com
"We succeed because we pay our dues to meet our goals, and in doing so we expand our personal genius"
Larry F.
The Flip Kid
Congrats!
Please tell us more about the deals. Were all of the properties located in the same area (eg city, zip code, subdivision, etc)? Did you find any of these deals using "off MLS" techniques?
you are so inspiring thank you!! continue to do what you do!God bless
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
Keep up the amazing work, let's see you post at the end of 2012 that you have made that 500k!
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Thanks for sharing.
Keep going strong and do your $500K, OR BETTER, in 2012!!!
Much Love!
~BC Alexander
“Embracing Excellence. Empowering Victory!”™
That is so inspiring. Can you please share some more details about your deals, how did you find those deals, were they on MLS or off MLS. what contingencies do you normally use if you are not able to find a cash buyer. Any details/advice is appreicated.
Thanks
Maddy
Your attitude determines your altitude!
WOW thats some serious action taking for 1 mnth ...very inspiring and i cant wait to hear how you accomplish your goals for 2012 ...keep hammering flip kid !!!
jay
Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...
Larry,
This was very inspiring to read. I feel as if I am on the verge of doing my first deal. I will on keep on keeping on!!
Lori
www.cthillproperties.com
it is so motivating to read your success posts!!! You are all about 'getting your deals done'; no wasting time...
congratulations!!!
Val
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/...
Wow, Those were really amazing stats! Congratulations and Blessings of Good Health for you! I'm surrounded by a bunch of scientists in the desert of the Antelope Valley! A small RE investors group meets at the Rancho Vista Senior Retirement home on Wednesdays- should call first as they were discussing a 2-part meeting time ( one lunch, one dinner)to allow time variance for everyone's schedule. They can be contacted through Nannette Barrie of Keller-
Williams, Antelope Valley Mall location
anita Page
Congrats larry, very good post. Go's to prove that anyone can do this no matter what may be in the way to freedom and Have a Happy New Year and a safe one to you and your family and friends and Happy New years to the Dean family, Dean and his family and staff members.
I checked out both of your sites. And will be reading your blogs tonight.
Congratulations.
I've got Kalamazoo, Battle Creek, and Grand Rapids Michigan that I can cover for you.
peace,
Dana w/ Crossroads Solutions LLC
http://www.DanaLeigh209.com
http://www.DanaLeigh209.net
http://www.ULostThis.com
---
I am direct to the VP of a $100 million dollar open-ended debt and equity fund which actively writes checks to fund businesses with an EBITDA of at least $1 million a year. We fund also have access to up to $500,000,000 for the purchase of distressed real estate, specially commercial $7,500,000 and up.
It only goes to show that dreams and thoughts put into action, produces results. You and many others are living proof that anything is possible. Congrats on making it happen. God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Great Job!!
You guys and girls Deserve it!
Keep It Up!!!
Jay C
Jay C
My goodness! I'm exhausted just listening to you...I love it! Keep up the great work. I will keep you in my prayers for a quick return to better health.
Sincerely,
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
I am so glad to see how things have worked out for you! If you have been able to do this with all the challenges you've had...
Now if you can just kick your health problems the way you have your REI business!
Karen
"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!"
Congradulations Larry You are doing fantastic ... like I want to do if I culd just do 3 months next year like that My troubles will be different ones ... the kind of troubles I wuld like to have. I have been reading Deans books and this website for the past year or so to but I have not been so successful as you have been and with so much to overcome. I have no excuses now. Promise you this when I am as successfuls as you are now in central florida I will be glad to help you in Orlando ... or on the Sapce coast. Just look me up at my DG address or My Email.. will be glad to see you even more successful
Frederick R Bauder
Congratulation on your success. 2012 is looking like a piece of cake for that $500,000.
Im making this my year to. I checked out your blog , very inspiring.
Much Success
Chris
In order to Succeed your desire for Success should be greater than your Fear of Failure. Bill Cosby.
Some people dream of Success.... While others wake up and work hard at it
Join me on Facebook. www.Facebook.com/ortizrealestateinvestments
that when you have good health, you can have everything! SO sorry to hear about your health issues, but relieved to hear your health is improving!
The power of prayer is truly amazing!
Best wishes to you and your wife!
Jenny
Where are you located in Orlando! I've just moved here and I'm rolling also. Let's connect. Are you in CFRI?
Talk soon!
CL Jones
Tax Lien Coach
CL Jones
The Tax Lien Coach
www.county-tax-liens.info
That is one great month! And you let nothing stop you! You are in inspiration to all of us. Hmmmm....do could this be the next "Matt Larson"?
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
Awesome, sure it was hard work!
Way to push thru to the prize!
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
inherited property...I didn't realize you had responded to my 1st post. I will pm you also.
Thanks,
Barbara
I have just started learning about this wholesaling, I am hoping to get the concept and run with it so wish me luck, and I am now trying to follow u, blog, facebook, twitter. all of that . Yes , u have inspired me, so I am going to keep pushing forward...
Hello Larry,
Congratulations to you and your wife. Your post is awesome and very inspiring
You gave me hope that I can do it well. Thank you and have Blessed New Year!!!
Be healthy. Halina
$50k a month and you'll have it by October. Of course, you may take some time of to spend that $$$! Congratulations and keep it up. A husband and wife team working together are hard to beat!
I've got buyers and sellers all over the country. If you find a deal, I have buyers. I've also got leads on properties all over if you find more big buyers.
Real estate works...
Hey Guys & Girls,
I just wanted to thank you for all the positive comments and replies. I seen a couple of people asking for some more details on the 5 deals I did so here it goes:
Deal 1: (10/19/11)
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This was a deal I got off of a bandit sign. The property was a duplex in a pretty bad neighborhood, but it didn't need a whole lot of work (maybe $10k). The investor who bought will rent out both units for about $1200/mo, so after my fee and the $10k worth of repairs he will cash flow about $800/month when he refinances to pull his money back out.
Deal 2: (10/19/11)
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This was a really run down property we got off a bandit sign. The property was a small row home with good rent potential. It needed about $30k worth of work to get up to rent standards and will rent for about $900/mo. The investor who bought this should cash flow about $400/mo after doing repairs and pulling the money back out.
Deal 3: (10/21/11)
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This was a deal we got off our bandit signs as well. The property only needed about $10k worth of work for a rental. The property sits right on the outskirts of a hot university area. Our buyer likes these areas for future expansion and the area going up in value. He will rent this out for about $700/mo. We also did a simultaneous closing, because our buyer's bank who he refinances with doesn't like to see assignment fees. The buyer funded the first transaction for us and then we sold the property to him 5 minutes later. =)
Deal 4: (10/25/11)
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This was our slam dunk deal of the month. The property is in a hot area and we got the lead off a letter sent to the homeowner. We seen that the property looked vacant, so we sent him a letter. The seller's asking price was only $50k and we knew at that number we had a great deal. We talked him down a little more and had a buyer ready to go for $70k as soon as we put it under contract. The investor will be into for about $100k after repairs and will sell it for about $155-165k.
Deal 5: (10/25/11)
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This was a short sale that my team had been working on for a while, and we were able to get the bank to accept an offer where one of our buyers would take it. We ended up making a small $2500 negotiation fee on the property, because the bank wouldn't go any lower on their price.
I have also seen all the DG Inner circle members giving back right now for the holidays and I really want to do the same. I feel blessed to have been able to accomplish so much even with my challenges, that I really want to start helping others. In my post you might have seen that I was interested in mentoring and partnering with others around the country.
Well I want to be able to give back too, and I am going to have a drawing where I will pick 1 person to partner with and mentor to begin the new year. If you want to be in the drawing please send me a private message and I will give you more info on how to get in.
Thanks again for all the kind words, and I will continue to keep everyone updated and inspired!
Larry F
The Flip Kid
Check Out my blog at: http://www.theflipkid.com
"We succeed because we pay our dues to meet our goals, and in doing so we expand our personal genius"
Larry F.
The Flip Kid
First of all, I hope you're well. My goodness! Being sick is horrible and I know what you mean - - I had a brain tumor years ago.
I am, however, very new to be a REI. I would LOVE to do wholesales myself. I need to bring buyers and sellers for my future team.
My best to you and I hope your health is better. As for me, please send me your luck.
I had a 28,000 month in November but 40k in 7 days kicks my butt. Keep the videos coming as I and many others enjoy them. Check out the latest video I did for my New Years resolutions.
http://www.addicted2realestate.com/2011/12/20/its-time-for-my-new-years-...
Phil Falcone
267-988-2000
www.Addicted2RealEstate.com
SIGN UP FOR MY FREE WEB TV SHOW
Congrats! I also sent you a PM about partnering up with you possibly.
Together, we can be successful!
Happy new year to all!! Reading this post from Flip_Kid was a great inspiration, inspiring and motivating which gives newbies like me the courage and belief that anything is possible if you have faith and believe in yourself.