So...I've read Dean's books, done some 'homework'...Saturday morning (yesterday) I decided to take a ride to comb some unchartered areas of interest with the intention that I wasn't coming home till I found just ONE FSBO sign...(I kept telling myself: "Just follow the directions, Kat"). I was on a mission! ...drove around about an hour, and low and behold, there it was!!! My FSBO.
I was so excited, I raced home, checked out the property online, (quickly reviewed how to talk to a seller), got my words together and called the number! He was selling his parents' house as they had passed away recently...He told me he's had the sign out for about 2 weeks. He said he was asking $60K "as is", asked how flexible he'd be. Then I asked the seller if I offered him all cash would he accept $50K...he said 'yes'...so we set up an appointment to view at 1pm (2hrs later). I quickly put a new ink cartridge in my printer and hit out the forms I needed! So excited, and a bit nervous, as well.
Okay, so there I was at 1:15, thinking I had it, when 2 others interested buyers drive up! Thinking fast, I said to myself: 'wait a minute, you want this, you better lock it up now!'...so I took the owner aside, spoke fast, and locked it up! Phew! (I didn't know he had gotten other inquiries! :/) Tunnel vision, I suppose.
We're closing in 30 days! Now, what? LOL Yikes! Have to find an inspector...and a crew!
PS. "As is" turns out he's in the midst of painting the interior for me! 
YAY!
MY FIRST DEAL! OMG! A FLIPPER!
December 4th, 2011 | posted by Liberty Kat
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Nice!
congratulations! Would love to hear about the progress and resale! keeps us all posted
Congrats Kat
put an add on CL right away to find a buyer!
Keep us posted,
Valerie
Congrats, but...
Any idea what the ARV will be on this? We're all anxiously waiting to hear more numbers and details. Good luck!
"It's a FLIPPER!" - Ron White
So excited for you Kat
Thanks for posting this wonderful news Kat!
Congrats and let us know about your buyer!
Congratulation
Congrats on your 1st deal.
1st Deal!
Thanks everyone, I appreciate all of your support!
...kinda on my own w/this investor adventure I'm on!
Had to tell someone
Comps: $90K avg.
Cost of Repairs: $15-20K
ARV=$80-85K
Profit potential: $15-25K
Question: As for the inspection, do I go with inspector title company prefers?
Found a potential buyer!
I have a buyer who's currently renting an apartment...Married couple w/a young son, their lease will be up early next year...perfect fit! (I hope).
Appreciate all of* your support!
Thanx! ~Kat
PS. Weeeee! This is all happening so fast!
What the heck?
Um...Not a site for selling boots & women's apparel...how do I delete these?
flag them all as offensive.
flag them all as offensive. I think they will then be removed by admin? That is ridiculous! why do people do that?!?
Other buyers
You did awesome!!!
It's funny because as a wholesaler the first thing that stuck out to me when I read your post was "2 others interested buyers drive up!" I could not even get through your post without that sentence blinking at me like a neon light...lol
My mentality would have been to lock it up, get the numbers from the other buyers that were there and then sell it to the other buyers for a profit.
I need wholesaer anonymous
You did awesome and scored a home run you should be very proud of your accomplishment!
Wholesaler Anonymous- Ha!
I was so nervous at the time (it being my first)...saw them as my competition, not my future buyers, in that moment...'on-the-job' training, I suppose; live n' learn...
(the seller actually did get the other [ca$h] buyer's info. as a back up) :/
Funny, Wholesalers' Anonymous! Do we need 12 steps??? LOL
More good news...2 more FSBO's think I'll assign these...or who knows?
Viewing them Thursday...I'm liking this!
Thanks for your encouragement!
Somebody Flagged 'Em...
Good admin. must've axed 'em...Thank you!
Uggs...LOL
We Buy Ugly Boots!
Ha haha! Supposed to be "We Buy Ugly Houses!"
Too funny! Heehee!
Good Job, Kat!
You are on a roll!
What part of the country are you in? I didn't see it on your bio.
Karen
I'm in Texas...a transplant
I'm in Texas...a transplant from the northeast.
Thanks for the kudos, Karen!
B---rrrrrr! Temps dropped below 30 degrees last night!
Good thing I brought my plants inside...
Happy days! ~Kat
Cash is King
Cash really talks another language. If you want it, you have to go out and get it and you understood the dynamics. Congrats.
Sandra
Merry Christmas!
Wishing everyone peace, joy, love, and hope...Merry Christmas!
Inspector/Contractor
Inspector, check.
Contractor, check. (May have found a partner!)
Moving right along...
PS. 2 of the FSBOs were too overpriced 4 me!
Comps were showing HALF of their asking prices.
Some sellers just pull numbers outta the air...ha!
Next.
PPS. Have 4 more FSBOs (+1 callback) for Monday calls...been cruising neighborhoods--(heheh)
7 Levels Deep...
On page 14 of Dean's book "YOUR TOWN Your Real Estate Profits," there is an exercise for finding your "why?" Dean refers to it as "7 Levels Deep." Well, I've had the book for 9 months now and I am RE-reading it!
I have finally completed this exercise to get MY why! It really works fellow REIs! I'm telling you, you've gotta DO IT for yourselves! Once you've reached 'your why' there's no stopping you!––It's your motivator! It makes all the sense in the world...so drop what you're doing right now, pen in hand, and DO IT!
~PS. Thanks, Dean!!!