OfflineWe closed on our first flip and cashed the check. 8,563.53 was my side of the profit after paying my other partner and the money lender. Total profit was around 23k. This chunk will pay off the rest of my debt other than my mortgage and I just got an offer on another rehab we've had on the market. That one should net me around 10k. The light at the end of the tunnel is finally here, Man it's been a long road!
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Its stories like these that helps motivate someone like me to push on
I was really impressed by your list of goals and that you have already met two out of three. It must have taken a lot of faith to quit your job when you were new to investing. That means you took a risk and it worked. I know I saw your journal about 12 deals in 12 months - now I know how you found time to do that many.
If you don't mind my asking, sometimes people keep a job just for the benefits - like health insurance. Did you have to replace that, if so, what did you find? I think that is the only thing holding me back from leaving my job.
Again, congrats, your posts are truly inspirational.
Judi
Judi, I know where you're coming from with needing the benefits a job has to offer. The benefits I had at my job were the best there are other than a government job. However, personally I knew the longer I stayed there the less opportunity I had to live my dreams. On top of that I hated my job and I was working 6 days a week usually 12 hr days, so if I stayed at work I wouldn't have much time at all for real estate.
My kids are covered for insurance, but my wife and I are not. I guess I'm going on faith and risk. I felt is was the right decision. When I quit my job I got a lot of crap from a lot of people, but I knew it was what I needed to do.
Also, I simply did the math on it... I had to work 80hrs. a week to bring home 1500/week. With an assignment its so easy to make $1500 and can take less than an hour... that comes out to 320 hrs of work for 6 grand a month, I just cashed out over 8 grand and probally had less than 50 hrs. in the deal.
Our most precious asset is time. Now I have time to create the life I've always wanted and I have a blast doing it. This isn't the way I would reccommend for everyone but for some it's the only way.
FOR NOT GIVING UP NO MATTER HOW LONG IT TOOK!! GREAT JOB!
Congratulations on your deals, keep it up .
Adamina
Congratulations ... that check is a GREAT motivator!!! I look forward to hearing about more of your deals closing!! So awesome!! Good going.
Jill Holden | San Diego
Investor Services
Team Development
Congratulations guys, real estate is a vehicle that can change lives instantly. Gaining knowledge and taking action is what it's all about. Great job and I'm sure we will hear more success from you guys.
Mark,
Congratulations!! and thank you for sharing your success with all of us. Hearing your story is inspirational for everyone reading. You persevered and now are reaping the rewards! I have a feeling that this is only the beginning for you. There is so much to be said about paying off debt and moving forward and able to really live life without that weight.
KEEP MOVING FORWARD
"If it is important to you, you will find a way. If not, you'll find an excuse."
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