OfflineI bought Dean's book on March 17th 2012, and I have made a commitment to spend a minimum of 2 hours a day investing in my business, and I have far surpassed that. Today, I created my website, and ordered Dean's Rock Bottom Blueprint. I have sent emails out to agents and have had one return message. I should meet with her next week. I researched multiple banks and have a prospective one that I expect to respond next week in order to find a lender that will do a No-seasoning cash out refi. I have researched contractors but not emailed any yet. Yesturday My wife and I drove around for 6 hours looking at houses and neighborhoods that we have found to be potential "Killer Deals". I have spent many hours on Dean's site reading through the blogs, forums, and Docs and forms. I am on the way and expect to make my first deal by May 15th. I have a goal to purchse 10-18 homes in the next 9 months.
Danny
Danny Frye
http://realkilleen.usapropertywholesale.com/
A couple days ago I signed up for Dean's Success team with PMI, and am excited about all the new education tools that I have access to now. This is definitely going to speed things up for me. 5 deals by December is the war cry.
Danny
Danny Frye
http://realkilleen.usapropertywholesale.com/
Yesturday I recieved an email notification about a price reduction on a property of $37.900. After doing a little research, I noticed that last years tax assesment was $284,000, and other houses on the same road for sale are asking from $265K to $385K. This bank owned property has an asking price of $163.000. It is 4 bedrooms, 2.5 bathrooms over 3000 square feet and less than a mile from a lake. Our offer was submited less than 24hours after the notification, and our agent called ahead to pave the way. Hopefully we will know something Monday.
Danny Frye
http://realkilleen.usapropertywholesale.com/
We are meeting our agent and going to check out the house we made the offer on. I am excited. I feel like this deal is in the bag. we should know something in the next day or so to see if our offer was accepted. Deal 1 is almost in the bag.
Danny Frye
http://realkilleen.usapropertywholesale.com/
We are waiting on our offer to be accepted on the first deal, and a diamond falls into my lap. The comps are around $60k, the house is for sale for $29,900. My agent made a call and has figured that she will accept at $23k. It looks like there is no major rehab work to be done. I have a friend loaning me the entire amount of the loan for a 50/50 splint upon sale. Not my money only my knowledge. I should be able to sell for arou $50k-$60k after rehab. Should only take a new roof and some painting.
Danny Frye
http://realkilleen.usapropertywholesale.com/
So the House was a bust. It had way too much rehab. Termite damage. I'm talking $20,000+. No profit margin and way too much time requirement. So keep plugging away and find the next one.
Danny Frye
http://realkilleen.usapropertywholesale.com/