OfflineHello everyone,
I finally decided to go for it. I worked really hard and in 2 wks I had two deals that I thought were good deals. So I network online and get a buyer for both of my properties. YAY! I had the properties under contract with the seller and me and the buyer signed a contract. I was told by the buyer that the deals would be closing in 15-30 days. Soooooo, I quit my job that I was only making 200 dollars a week at expecting to be bringing in about $9500.00 soon so I could do this full time. I told the buyer before we even signed a deal that I got my comps from Zillow. He knew that. He asked me to get a CMA from a realtor. I'm have to pay this realtor $150.00 when the deal closes to get it and after the buyer saw the CMA he backed out. He said there wasn't much room for any profit for him. It turns out he was already advertising both of my properties for $10,000.00 more than what he bought them for from me. My last day of work is today and I have two properties under contract. I did send the property information to a couple of my other buyers who originally wanted them hoping I get a hit on it. I'm using the comps I got from my realtor(which I will be using from now on). I have to take the blame for this for not doing my due diligence. I'm happy I learned early on. I'm now a FULL time real estate investor(gulp).
Chanda
But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day. Deuteronomy 8:18
HI CHANDA
Great job on getting out there and taking action......don't give up now...their are lots of people on here...check out top user area....go into journals and find the one that sound like what might have been through.
I'm sorry, I'm not experience enough to tell u what u could do......but I couldn't pass u by......your getting out there and trying to do for yourself....awesome !!
This is what I just went through.....Had a property locked up, went through several investors....and just before closing....another investor contact my seller...the next thing I know....he has it on craigslist higher than what I advertised it for.....killed the deal.
Since most people can't remember my name....everyone nickname me ERNIE.
This investor is now advertising the property with heading of " BURT vs ERNIE". I have not done a thing to him - some people have no honor it what they do and just don't care.....My point is, in my situation....he's still stuck with the property, and I've moved on, u can't afford to let people eat at u-- you'll never grow....sometimes it bites, really big....but the bigger the bite- the stronger we get.
Are u building your buyers list? I still consider myself a beginner....so, when I ended up with a locked up..lol.....it may not have been the best way....but I picked the phone book and just started calling investment companies........introduced myself to them and told them why I was calling - keeping it short, then sending out a post card, or an e-mail the same day. it's worked for me so....
Like I said....can't give any real advise for your situation, but only encourage you to keep it up..
GOOD LUCK, ERSIE