OfflineHi Everyone,
I had my realtor send me properties that were on the market for 90 days or more.I looked for as-is,vacant,and needs rehab.So I put 25 offers in and 2 got accepted.So I said wait,this isn't right,if i got 2 offers accepted then I must have bid to high.I offered higher then what my gut felt.One of the deals I backed out during inspection,because I knew I was too high.The other offer I went with and sold it in 2 days.
3/1bth 2 car garage.
Renter in Place at 1200/month
No work needed!
1500sqft
ARV 90k
My price 45k
Wholesale price 46.5
The seller was so motivated to sell,I know I could have got it for 35k.Always go with your 1st instinct.
But I just love the fact of doing a deal!
__________________
On the deal you made. That is how you learn by getting out there and getting it done and as you do them then you get better and can calculate the price even better no doubt. As long as it comes out to money in your pocket and both sides win out of the deal then all goes well.
Shawn
These stories keep me going, still waiting on my first deal, being shy and put some out there but no bites yet. I've been focusing on FSBO which is active and fun but no offers, i think i'm going to use the 25 to 1 strategy with my agent to spice things up!...Great job now on to the next!!!!
~Kristen
Congrats on your deal.Can I ask how your realtor who sent you your list got paid.
i can hardly wait to do my first deal. i expect it to be in may or june..
A little is better than nothing at all. At least you acted and produced results. It is a learning experience.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
the "investor friendly" realtor? I have been needing to ask that same question! any answers will be appreciated, D.L. or anyone else! ?
Thanks
Kathy from the sun city!
"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
Well done on using the 25:1 strategy. Im currently working on this strategy hope it works out good for me!
The next deal will be better! on to the next one and happy investing.
Robert.
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"
WOW what a great feeling huh. That is fantastic. We have made our offers for this week now we are just waiting to hear which one gets accepted.
Donna
and wonderful taking action! Congratulations!
Thanks for responding.Well Thomas I sent it out to my Investors at 50k,he responded back and said I'll pay 45k for it.I said that I have it under contract at that price and wanted an assignment fee,he said ok Ill give you 1500,I said deal.That's another reason I knew I bought to high.
i know it might not be much money, but it's more than you had the day before and you got to get paid for learning. tell me though, isn't the best part being able to put that entry into the "my deals" section
?
keep moving forward, rob
whether you think you can or you think you can't, you're right.- Henry Ford
keep moving forward, rob
Great job!!
Now you have proven to yourself that the strategy works and most importantly, that YOU can do it! Looking back to see what you want to do differently for your next deal is smart, and it's all part of getting to be a better investor.
Time for the next one
Julie
John and Julie Wakefield
JCW Properties, LLC
That's the beauty of this business, you made $1500 while learning for the next deal. Got to love it!
Moving forward daily will get you to your goals!
"You become what you study" - RTK Rich Dad Poor Dad
http://bulkassets.com
I just placed an ad on CL found in Be a Real Estate Millionaire that Matt said to use to find an agent.
P.S. The same exact ad.
nicely done! the more action you take, the more you will learn, and the more $ you will make!!!! It's all about taking action!!
Wishing you many more great deals,
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/...
Congrats on the deal, hey $1500 bucks is $1500 bucks. Please you may have learned a lesson that will create higher profit margins for you in the future deal. That's Return on Investment!!Lol
Dave B
"You miss 100% of the shots you don't take"
Wayne Gretzky
Congrats ! Keep up the good work! ~Bob
I just got another deal accepted!I'll keep everyone updated.
Man you a ROCK Star!! keep up the good work.
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
Thanks for sharing the very inspirational video!
Awesome, now on to the next one
Ray
Great Job!!
As others here have said, the experience is invaluable. You made a profit and gained knowledge, way to go. On to the next deals!
I had my realtor send me properties that were on the market for 90 days or more.I looked for as-is,vacant,and needs rehab.So I put 25 offers in and 2 got accepted.So I said wait,this isn't right,if i got 2 offers accepted then I must have bid to high.I offered higher then what my gut felt.One of the deals I backed out during inspection,because I knew I was too high.The other offer I went with and sold it in 2 days.
3/1bth 2 car garage.
Renter in Place at 1200/month
No work needed!
1500sqft
ARV 90k
This is great inspiration for me Im at the edge of making a deal and cant wait for it to happen.
My price 45k
Wholesale price 46.5
The seller was so motivated to sell,I know I could have got it for 35k.Always go with your 1st instinct.
But I just love the fact of doing a deal!
Keep moving forward.
Great Job and I saw another deal pending in the posts - Go For It!!
Hey Dean,
Thanks for firing us up once again with your logical straight forward approach. We know you already have enough energy for all of us, but here are three of our favorite inspirational quotes for you and all the other DGers.
"To know and not to do, is not to know" -Leo Buscaglia
"What lies behind us and what lies before us are tiny matters compared to what lies within us" -R.W. Emerson
"Success in life is never more than a decision away" -Kevin Trudeau
-Synergy 1 Team
i was wondering about when matt said he was gonna give his agent 15% is that 15% of the total sale price or 15% of his profit.Can anyone clear that up for me?
Jeffrey Groh
Hi,
I think he meant on FSBO properties.If they are not listed with a realtor.
I have a question about the 25-1 strategy, I live in Texas and if I use a realtor to send me deals from the MLS. Won't the realtor ask me for proof of funds and require a earnest money deposit.
What shall I do in this case?
Thank you,
Randy
Your enthusiasm is contagious. I understand the real estate business from the agent's perspective, and it is totally logical. I've been in real estate for seven years and now have the funds to invest. But I'm stuck in the get ready mode. So I'm ready to get out of my comfort zone.