OfflineMy relocation has definitely been a good choice! It is so exciting to now live where people ACTUALLY call you when you put out bandit signs!
The very first week that I was here, a retired doctor called us. He had just paid cash for a new house in Aug '12. FMV $169,900. He is from up North and has a family member that is ill and he very much wanted to relocate ASAP! Said he knew he would lose a lot of $$ but that didn't matter to him. He just wanted it done FAST!
Right now, in this area, there are about 5,000 houses for sale. Avg DOM is 180. He didn't have time to wait.
Got it under contract for $105K and We would pay all his closing costs.
The very next day, the first people that looked at it grabbed it. We had priced it @ $134,900 and they pay all closing costs. When they asked if we would negotiate on price or terms any, I told them, "No, and if you walk out that door w/o putting it under contract, my phone is ringing off the hook and the next person will grab it." They signed immediately. They had been shopping the area for six weeks and knew it was the truth!
We closed with the seller on April 26 using Private Money. Today, we closed on the second half! Not one penny of our own money was used!
The doctor seller was so very happy! I kept him informed every step of the way so he was very comfortable. The buyers were thrilled because they got a prop $35K under price. And my partner and I are pretty darn happy, too!
NEXT!
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!"
Congratulations and sounds like a great market!
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Way to go! That's SWEET deal!!! Makes mine look like chump change!
How much did the PML cost you two?
BTW - Does this mean your not a MB Homeowner any more?? lol
John
Quitters NEVER win - Winners NEVER quit!
"P.U.S.H. = Persevere Until Something Happens" Dean
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas A. Edison
Check out my Road to Redemption journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/88171/...
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It IS a great market! We have a lot going on right now.
JT is in Alaska right now. I have 50 more signs ready to put out this w/e when he gets home!
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!"
That was a very good deal for you. But what is most concerning is the 5,000 homes for sale with 180 DOM. That clearly indicates that the market is overpriced and needs a correction. If the good doctor had placed it at $134,900 he would have sold it as a FSBO any day of the week (assuming ROI makes sense).
The questions then is, do the RE agents in the area know what they're doing?
P.S. - Everything else is immaterial, irrelevant, and unnecessary.
That's great! So what was your profit? Can I move up there with you? LOL!!
Teresa
College Station, TX
**********************************************************************************
"Declare that you will prosper despite every difficulty that may come your way. Don't just survive; thrive!"
-Joel Osteen
Way to go! That's SWEET deal!!! Makes mine look like chump change!
How much did the PML cost you two?
BTW - Does this mean your not a MB Homeowner any more?? lol
It does NOT make yours look like "chump change"! I think yours looked pretty awesome, too! You are building your momentum. Yes, this one we got was a home run, but like I told JT, "They can't all be home runs. But all those base hits add up to home runs! And those also make us win!"
The PML story is actually a story in itself! This guy is a friend of JT's. He originally said he would do it for $3K but he is a little contrary and was really acting like he was putting himself out. So I set up an acct to get TF. I knew that TF would not release their funds unless the C Buyer's $$ was wired into the escrow acct. TF was only going to cost us $2100, so we told the friend we had made other arrangements.
The afternoon before the A-B closing was supposed to happen, the mortgage co for the C buyer announced that they would not send $$ until deed was already in my name and appraisal was also switched into my name. EGADS!!! The deal was falling apart! I have NEVER been SO stressed in my life!!!
Morning of A-B closing. Seller signed all his closing papers at 9am. I was supposed to come at 11 to do my signing. (Here they do them separately.) At 8am JT, myself and contrary PML had a conference call. He said he would do it but it was going to cost us a lot more $$. We ended up paying $5,600!!!
He was upset that we had backed out on him and then came to him at the last minute. Can't blame him. It was expensive, but we still did very well. All is good. I would be willing to pay that every week if we had to. Or had the chance to.
And yes, this means that I am not a MB homeowner at this time. Give me a little time.
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!"
Yes, I remember some of that now. I'd say the PM Fee was well worth it!!
How did you market it....on CL?
John
Quitters NEVER win - Winners NEVER quit!
"P.U.S.H. = Persevere Until Something Happens" Dean
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas A. Edison
Check out my Road to Redemption journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/88171/...
www.windfall-properties.com
Great deal Congrats to you both!
Cathy B
Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...
Karen,
you are doing some amazing deals!!! So happy for you!!! I guess you're not coming back to Cali??!!
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/...
Keep on Rocking. You are the next Super Star. I could see now!!!
Richard
Richard Armendariz
WAY TO GO KAREN !!!!!!!!!!! That is so cool. You knew you would do well in Myrtle Beach. Go Karen and JT.
ALL THE BEST,
WALT
The questions then is, do the RE agents in the area know what they're doing?
There are definitely many of them that are overpriced.
I got a call from one guy whose house has been listed for over 540 days. He had "lowered" the price to $189K. Comps were showing $150K range. His house was beautiful and so was the neighborhood. He only owes $50K on it now, but WAAAAY overpriced. But his realtor had priced it for him. Unfortunately, the realtor is his live in GF's Dad, so...
Yes, the doctor could have sold it himself but he didn't know how to do it quickly and had other things stressing him. He said he knew we would make $$ and was happy for us to do so if we just took care of it quickly. He told me over and over that he was thrilled with what we had done for him.
As far as the REAs knowledge here, I'm sure there are good ones and not so good as there are everywhere. But as long as we can keep our customers happy, I'm happy! And loving being in the trenches myself!
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!"
We walked w $22,486.62.
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!"
Yes, I remember some of that now. I'd say the PM Fee was well worth it!!
How did you market it....on CL?
JT put it on Post Its (I think that's what it is called) which also posts it to CL.
"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!"
Ours is coming!
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!"
you are doing some amazing deals!!! So happy for you!!! I guess you're not coming back to Cali??!!
Val
Thanks, Girl!
Funny, I have had more calls on my mailouts that I did in Cali since I've moved than I did when I lived there! Go figure! Two offers out for there right now.
I will be coming back for UCLA graduation June 15.
"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!"
Thank you! I have been working long and hard on this. The Universe just finally gave in! It figured I wasn't going away!
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!"
ALL THE BEST,
WALT
The key is just don't ever stop! Eventually it has to break! That is the law!
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!"
Karen, WAY TO GO!!! I am so excited that this deal played out the way it did, Especially since it happened as soon as you got to Myrtle Beach! Talk about timing huh?? We have many more to come! We have completed 2 deals in the past 3 months so not too bad!! I look forward to returning home and getting back to work. We are in a hot market for both buyers and picking up deals!! Myrtle Beach is going to be a hot bed for deals over the next few years and we are sitting in the drivers seat!! Lets keep em rolling.. Oh and BTW, Your an awesome partner:)
John Trivett
I am always happy to see successful entrepreneurs succeed.
NEXT! Congrats you guys!
Romaluv22
Signing Out,
I have finally made up my mind to take control of my own Mind and Destiny. I am confident with the Faith in My Higher Power, I will Achieve what I Believe., In His Mighty Name, AMEN!
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Way to go Karen on this home run deal. I've been thinking about moving to a better market myself. Well keep up the good work.
Reynold Orozco
great to hear you are doing well sometimes you have to move huh to make things work, geography matters. Congrats, I am working on my next deal should have it soon partnered w/some people in the midwest, geography matters.
Tony
Go faster do more! GFDM!
Yes, I remember some of that now. I'd say the PM Fee was well worth it!!
How did you market it....on CL?
JT put it on Post Its (I think that's what it is called) which also posts it to CL.
Yes, Postlets automatically post to Zillow, also!
John
Quitters NEVER win - Winners NEVER quit!
"P.U.S.H. = Persevere Until Something Happens" Dean
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas A. Edison
Check out my Road to Redemption journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/88171/...
www.windfall-properties.com
Yes, I remember some of that now. I'd say the PM Fee was well worth it!!
How did you market it....on CL?
JT put it on Post Its (I think that's what it is called) which also posts it to CL.
Yes, Postlets automatically post to Zillow, also!
HAHA! Yeah, that's it! Postlets! Duh! Post Its are the little sticky notes! Not very good marketing that would make!!!
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!"
Karen put lil yellow post it notes all over your car lol... that would draw attention !!!!!!!!!!!!! AFTER ALL THEY DO COME IN YELLOW !!!!!!!!
Yes, I remember some of that now. I'd say the PM Fee was well worth it!!
How did you market it....on CL?
JT put it on Post Its (I think that's what it is called) which also posts it to CL.
Yes, Postlets automatically post to Zillow, also!
HAHA! Yeah, that's it! Postlets! Duh! Post Its are the little sticky notes! Not very good marketing that would make!!!
Karen
That's great that your move has been a profitable one! I am branching out to different areas because my area in NJ just hasn't happened for me. Hopefully with some planning and hard work these new territories will be my magic bullet to financial freedom! Onward and upward!!
I love Myrtle Beach, and wish you all the luck there!!
$22k!!! AWESOME!!! I'm still plotting my "big" deal but enjoying the singles and doubles in the meantime!! Congrats and thanks for sharing all your details!!!
Kristin
TIME = WEALTH = FREEDOM
Live STONG & Live with PASSION
I knew you'd rock it, compared to price ranges etc from LA lA land
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Karen, I was going to ask you when you moved, did you have any buyers there in Myrtle beach? Then I saw that you simply just used a Postlet on to craigslist, is this where you got your buyer from, craigslist? And did you already have some buyers in myrtle beach before your move?
thanks for your help!
"Cut not the wings of your dreams,
for they are the heartbeat and the freedom of your soul." ~ Flavia
Kathy Wholesales TX
KM WholeSale Properties LLC
469-587-9967
1888-591-1096
Yes, I remember some of that now. I'd say the PM Fee was well worth it!!
How did you market it....on CL?
JT put it on Post Its (I think that's what it is called) which also posts it to CL.
Yes, Postlets automatically post to Zillow, also!
HAHA! Yeah, that's it! Postlets! Duh! Post Its are the little sticky notes! Not very good marketing that would make!!!
Karen
That's right, Walt! And as I drive they would fly off. Sorta like when they drop propaganda out of airplanes.
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!"