OfflineHow to start?...Got it!...
Hi! Hi DG?...nah. World?...that's funny but no. Journal???...too tedious... Got it!
Good ol Hi works just fine 
so here goes...Hi!
My name is Eddie and I'm new to the whole world of real estate. With that said, in the 3 months (since Oct 4th til today) that I've hit the ground running with this thing I've: (pause for suspense, get ready to feel accomplished) I've:
-Partnered with an experienced interior designer with a full rehab team
-Leveraged a business loan & line of credit to fund DG training to the MAX
-Run comps for 2 days straight (literally) to master it in a short time
-Created an LLC with veil and opened a business account (this is my first business btw)
-Built a team that qualifies buyers like a well oiled machine (you know, if machines qualified buyers and all)
-Worked with at least 4 qualified realtors using DG's system
-Become an Elite member and am mentored by a Propstar
-Left my Banking Finance Consultant job to focus on this full time
-Went to Boots on the ground training, listened to phone seminars, AND attended the Las Vegas buying summit
-put together $80,000+ spread deals (current deal being one)
...the list could go on but I think you get the point, lol. I type all that to say that I've gone gung-ho for DG's system however I haven't closed a single deal! Now I know what you're thinking "uh oh, here comes the negativity" but it's quite the opposite. I've officially poured my life into this. There's no turning back...EVER. I just wouldn't mind a bit of encouragement or maybe just this outlet will do the trick by morning.
Whichever the case, I'm about 30 days from payments that could wreck my credit but I still can't see a life without the pursuit of real estate accomplishments. On top of that, I think this current deal is a GREAT one! Tell me what you think:
3bed 1bth, SFR in Philadelphia, PA,19146, 1104 sq ft
Asking Price: 120,000
Est. Repairs: 30,000
ARV: 233,000
Profit: 83,000
-Properties are selling like hot cakes in this area!
-New construction area
-Everything is in place and it's ready to be sold today.
-Numbers double check w/ mentor so all that's missing is You, buyer out there that wants a SMOKIN DEAL!
My background is banking, finance, credit repair, & loans so I'm ready to partner with all motivated, self-driven, new or experienced investors!!!
---Feel free to PM me and/or reply to post to encourage and/or talk business about this and more deals just like it!!---
Over and Out,
More.Key.Holdings - Eddie Morgan III
( btw, Thanks DG community for letting me vent & share!)
Just a quick note. Don't forget to subtract your buyers holding and selling costs for what you have listed as "profit" That number is actually "Gross" profit. Your buyers "Net" profit comes after expenses are subtracted.
Personally, on my deals I do not list "profit". Just the numbers. ARV, repair estimate and buy price. Every investor will have different costs - hard money - private money - cash. They may have a listing agent that does the listings for 1% and includes staging or they may have a listing agent that charges 3% and staging is charged in addition. Most will run their numbers based on a 6 month hold. Insurance, taxes, utilities etc will eat away at that gross profit number.
If you want to list that gross profit number you could just call it the "spread" It is really not a big deal, I think you would give yourself more credibility if you don't put out the profit listed the way you did. Just my opinion!
Good luck and congratulations on taking action!
Michael
PS. Bring me deals like that in the Denver, Co. area and I will buy them all day long. If you can't sell that deal where you are, you don't have real buyers on your list yet!
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
Thanks Michael!
I really appreciate that advice. I can absolutely see how that makes sense. Deals like this are all over my realtor's list so I am meeting with him on Monday to go over streamlining the process of putting in multiple offers while this area is hot, without overwhelming him. If you have any notes on that, I'm definitely open to it.
Just as a progress update, I used my credit guru skills to repair my mother's credit about a month ago and in return, yesterday, she went out and applied for a loan to partner with my company on a cash flowing rental property! Needless to say she was approved in less than an hour and we will be putting our earnest money down on the property tomorrow morning as it will be my (and her) first buy and hold deal!! (Talk about a one day turn around!)
Taking it one step at a time and making BIG leaps of progress.
Thanks again Michael!
-Eddie M.
P.S. - Sounds like I'll have to set my team, number crunching, and negotiating skill to Denver!
www.MoreKeyHoldings.com
I am a Local Investor and Wholesaler here in Chester County.
Would like to talk to you about your Properties.
And see what business we can do together.
I do have buyers in that area.
Pm me back and see what we can do with your properties.
Thanks
Jay C
Jay C
how the possible deal goes, or if you can hook up locally with Jay and get er done!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.