BOOYAH!!!...FREE at LAST!!!….FINALLLLY….Deal #1 Closed!!!!

And “they” said that I would never do it! That it was just another one of those things that I started, and just never finished. A pie in the sky dream that would never ever, ever come true!! “They” never told me to my face, but you can read the eyes; if you know what I mean….

One night about 6 months ago; my wife came to me in the office asking if I was gonna stay up all night. I told her that if that’s what it takes; then that’s what it takes! That I was determined to finally make this work. That I was going to set/make my Daily Goals/To-Do list diligently, re-writing them each day; over and over again to ensure that I did not get off-track! She bends over and kisses me on the forehead and says, “Baby, you’re my horse; even if you never win a race”. I never let her know…. that did NOTHING but **** ME OFF and lit the fire that’s burning at this very moment!!!!

Of course, I wasn’t mad at her, but at myself for letting things get to that state of disbelief and contentment; of trying gallantly, but….. Honestly; she has been the one Rock that I’ve needed by giving unfaltering love, support and CONSTANT encouragement which actually pushed me to carry on….even when I felt I couldn’t! Believe me; I’ve had my share of disappointments and properties under contract that I could NOT move! The number’s probably at least 6-8, and for various reasons. What I have found is that they were ALL just plainly NOT DEALS!!! Many lessons learned in the process!

Anyway; about this deal…..

This is actually deal #2, but #1 is delayed in closing due to an out of state Seller, etc.

This was a bandit sign lead from a sign that has actually been in place for over 3-4 weeks! A lady called and said she and her husband bought a foreclosure about a 1 ½ years ago. Fixed it up with paint and new carpet, but really didn’t like the area and wanted to move back “home”. They are from a rural community just south of Birmingham.

It is a small 3/2 around 1300SF in one of the hottest Buy & Hold areas in town. Note that I have at least 10 Buyers screaming for properties there!! When questioning her motivation further; I find out that her mother is in the early stages of dementia and she wants to move closer to home. Her initial asking price was $25K, but made it clear that she was serious about being open to less and would not be offended.

Made the appt for the next day and took my new partner; a very experienced “struggling” wholesaler that’s been in the business since ’98….more on that another time. Man, this house was more than Rent/Move-In ready! All it needed was a roof fairly soon and gutters!!! They had done an excellent job fixing it up!

While inspecting the outside, the only other thing we could find “wrong” was the AC unit was fairly old, but still working fine and a fuse box that needed upgrading in the storage room. I asked my partner if he thought that she would accept $18K. He told me to offer $15K and I said “There’s no way she’ll take that; look at the condition of the house; it’s great”! He told me to trust him, so in I went; alone.

I told her the roof and gutters needed replacing, electrical upgrade, and the old vinyl and tile flooring in the kitchen/DR and LR would have to be replaced before we put tenants in. I offered the $15K with a 7-14 day CASH closing so they could be on their way back “home”! She told me that she would discuss with her husband when he got home from work and let me know later that evening.

We took off to go look at a few vacant properties in the area. We had gotten about 3-4 blocks away and my phone rang. It was her saying that she just got off the phone with her husband and they would accept the offer; as long as we would give them 14 days after closing to move! What a feeling!!!....I almost hollered before I got the phone hung up!! lol

Forgot the vacant house hunting and immediately went home to do my email blast!. Decided to market it at $23,900….should be easy to get! Only one issue though; I did not want them to know I was not the end buyer and knew I’d have to try and cut down on the “traffic” with prospective buyers.

I called a guy I’ve been trying to find a Rental for about a year and offered it to him at $22.5K….lesson learned; a bad move! He did his walk-thru the next day and ended up offering $17K. I told him there was no way, as I had a partner, etc. Guess he also, knew there wouldn’t be much competition due to the situation with Sellers still living there!  I got him up to $18K and ended up renegotiating with the Sellers at $14K. Closing was this past Friday afternoon (total of 10 days) and total assignment fee was $4K; split 50/50 w/partner.

I know $2K’s not a lot, but to me was the AIR that I needed in the worst way!!!! I’ve been unemployed since early September and living “on the dole” is not something I’ve ever done before! I have to thank God as my ‘Co-Pilot’, as ALL glory must go to Him. There is just NO WAY we would have been able to make it (or this deal) without His grace!!

So, on to the next and it should close the end of next week, if all goes well. I’ll post details when complete. I’ve got a lot of irons in the fire, but I don’t want to jinx anything. If all works out; #3 could be by the end of the month!?!?

Sorry to ramble on, but I couldn’t help myself. I’m so abso’FREAKIN’lutley stoked! My efforts are finally starting to pay-off. Those of you “old timers” that know me; know that I’ve been at this a very long time and I just had to get serious about success and quit drifting in and out!!! I got backed into a corner and knew I had to fight my way out! Give up~~~~~NEVER!!!!!!!!!

A personal big ‘Thank You’ to Michael Mangham, Karen Griffin, Jen Gray, and several others who have listened, advised, mentored, motivated, supported and inspired me to keep PUSHing! know I’ve been a pain in the a__; asking too many questions, making too many calls, or sending too many emails! Your ‘giving back’ efforts are SO much appreciated, and I just can’t thank you enough!!!! How can I NOT pay it forward?!