OfflineI received a lead from my property manager three weeks ago on a home that was in foreclosure and has a section 8 tenant in place that has been in the home for over 20 years. I locked up the contract and assigned it to my end buyer and picked up a $5,000 check today at closing. It does feel great. This business is about building relationships and meeting people. It gets easier and easier.
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"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
I like it... congratulations!
KimmyJ
Press on...
Jason, congrats on a job well done. Another deal in the bag. I am really excited for you. God Bless.
Sandra/Bernadette
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I'm glad it all worked out for ya in the long run. Awesome job!
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
Yes, it worked out well. I have another closing this Friday and should bring in $10K. Hopefully it will work out well. Thanks..
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
...and good luck on Friday!
"Do or do not...there is no try" - Yoda
congrats Jason way to go! so was this considered a short sale, if so how were you able to negotiate with the bank?
Ron
This is so cool! I can see that it does get easier as you do more deals. Keep them coming.
Congratulations on this deal. Thansk for sharing your story. Many other DG members will be inspire to take action based on this. Keep up the good work. Believe and Achieve!
- Joe
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Congratulations! That's awesome!
Success and Nothing Less!
This was a foreclosure home with a section 8 tenant. It was a win/win situation for all parties involved including myself, end buyer and the tenant.
The end buyer will also be getting three months of back payments from section 8 housing totaling over $2800. I could have sold this home for much more around $20K, but time was the issue.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Glad to hear things are working in your favor my friend! The way I see it the relationship you are making will make you more money in the long run. Also, good luck on Friday!
I as well have to visit a probate property I want to lock up and assign on Friday. If you don’t mind me asking how did you make the deal appealing & how did you propose the contract for locking up the property?
Thanks,
Lenny
What the mind can conceive and believe, it can achieve...
Lenny
LFLProperties@****
321-506-1303
I marketed the property by creating flyers and passing them out at the real estate investing club. This helped to meet others and exchange business cards.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Great to hear of your success !!
Awesome just Awesome!
Good luck on friday
That was something that I needed to hear today.
"Your ability to succeed is only limited by your ability to conceive that success in your mind. Believe and it shall be."
Money flows EASILY to me!
I am a money MAGNET!
I CREATE money!
I have enough money for ALL of my wants and needs!
Congratulations and continued success this Friday. I haven't closed my first deal yet, but I'm looking forward to it more than you know.
Ahhh, the sweet smell of success is starting to linger in the air (LOL).
Suzi : )
Check out my journal at: http://www.deangraziosi.com/real-estate-forums/investing-journals/29155/...
and I wish you the best on Friday. You must be so happy & excited!
Lea
SPR Property Solutions, LLC
If you have end buyers that are paying CASH for your deal then it is very easy. If there is financing involved it can be difficult, because you will be doing a double closing and will have to pay a company to fund the first transaction, which typically is 4-5 points(4-5K). I would have made 9K if my buyer was using CASH instead of a hard money loan.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
I am very happy. I am going out tonight and buying the most costly dinner on the menu at Outback Steak House and I am going to give the waiter a $20 dollar tip too. The knowledge and skills that I am receiving from this site and from DEAN'S book is so powerful that it changes your life quickly. The obstacles with real estate that we run into is actually helpful because you get better and better with creativity.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Hi,
If anyone can answer my question please do. here it is, I have two potential real estate deals and both of them are under contract with an investor who is looking to assign or wholesale his deal. I spoke to them both on Monday Sept. 28 and they are ready to move forward with the properties. my question is; I have and end buyer ready to buy those properties, since the investor already have them under contract to buy them how do I fit in as a real estate dealer to make a win-win situation for the investor,me, and the end buyer?
These will be my first two deals
Steven in Fayetteville,Ga
It sounds like there is too many people involved with your deal. If you don't have a contract, you don't have control over the property. You may want to request to be paid a bird dog fee for finding a buyer. In this case, you would still get paid something.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
wouldn't this be a double closing if I get an attorney or title company to do another contract between the buyer-investor since there is already a contract between the investor-seller, and then set up a closing date?
Tell me what you think!
Steven
So, if I understand correctly, you have a contract with the owner of the house and you are assigning your contract to an end buyer? If that is correct, then yes, you could do a double closing, which is exactly what I did.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Nicely done man! Keep up the good work, you are an inspiration. Knowing that someone is putting together deals nearby makes me even more confident about investing in our area! Enjoy your steak!
Please give us if you can steps in your processing your deal...it helps us who are still learning...thanks for sharing...great continued success!
"No matter who you are it's the simple things in life that lead you to believe that you can achieve anything"...
http://housesold4u.com/
Find a great title company or lawyer depending on where you live.
Here in Kansas City, Missouri we use title companies to close.
Important for DOUBLE CLOSINGS:
If your end buyer is using "CASH" instead of a lender, then you will not need to pay for funds such as "COASTAL FUNDING" for your first double closing transaction.
If your end buyer is using a "LENDER" you will need to pay for funding with a company such as "COASTAL FUNDING" for your first double closing transaction.
Just keep in mind that if your end buyer is using a lender, you will get LESS profits typically because you will need to pay a company such as Coastal funding 4-5 points from YOUR PROFITS.
In my case, my end buyer did use lending, but he actually wired me the funds for my first transacation and only charged me $400.00. So, by doing that I made out well.
Importantly, you need to be honest and upfront with your end buyer investors. You don't have to tell them how much you are making, but rather what your intentions are. This will help them to understand what you are doing and they may be able to help you save money.
If you have a GREAT DEAL, than it's a WIN/WIN for everybody.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Wow, your my new hero. I can't wait to be able to say that. It sounds like it's just another day for you. congratulations!
For verily I say unto you, That whosoever shall say unto this mountain, Be thou removed, and be thou cast into the sea; and shall not doubt in his heart, but shall believe that those things which he saith shall come to pass; he shall have whatsoever he saith. -Mark 11:23-
-Now who are you to say it can't be done?-
Thats a great job. Congrats on your deal and the many more to come.
After reading your GREAT success story, i Feel soo motivated to get my first deal done!! So did you find your investor/cash buyers first? im starting on building a buyers list and have 2 people who are willing to buy but they are regular buyers.. GREAT JOB ONCE AGAIN!!
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
Congrads!! Keep at it! I am next!
Serena