MY FIRST DEAL WAS AWESOME :)

I have not posted about my first deal yet so here it is!!!

One day while jogging in my neighbor hood with puppy in tow, I noticed a Rent sign in front yard of a house, the only one at the time, this was in late September. Everyday I ran my rout I noticed it, after about 10 days I thought I just have to call the number. When I called I spoke to a lady who had bought it from a friend by paying the delinquent taxes she owed on it, long story short, she didn’t live nearby and wanted to rent it as soon as possible and she had a few prospects coming in from the sign she had out. I asked if I could see it and she sd she could meet me there in 15 minutes, I would say she was very motivated!! I walked through it and wow it was in very prestine condition, no one had lived in it in over 8 yrs. Although it was dated inside the only repairs would be cosmetic, some tile in the entry and light and fan fixtures changed out.

She didn’t owe a mortgage so I asked her if she would consider selling it, I would be interested. She first said she would think about it but since she had an interested couple to rent it already she would have to think about my offer to buy at a later date. Okay, I went home right away and looked up Rents in the area she was asking 1475.00 and she was right in line and could even get more if she had put some 3k to update it a little but she couldn’t afford any more she said since she used all her cash to pay off the owed taxes (18k) There was no mortgage owed. So I planted the seed and told her if her renter didn’t plan out call me…..

I called my Realtor, she gave me some sold comps for that type of home which was a Duplex style (high end) but pretty large. It was a 3bd-4ba (two-level) Stucco santa fe style, 2019 sqft
Sold Comps= 200,546.00 I entered this in my little composition book with all the info we had talked about. So about 4wks later I get that magic call from the owner her renters have backed out she was ready to sell. We went back a few times ending my final offer at 85,500.00 she was silent for a week. I finally, called her back she talked some more about what she needed and I met her close to her asking price, locked it at 90,000 for 35 days. I assigned it to my most recent buyer I had just added to my buyer’s list; for 98,000.00—Yep, I made 8k on just putting buyer and seller together with no money out of my pocket. OH Happy day! I did it it worked and the gate was opened and I was running, this was just what I needed to get me out of the starting gate!

I told myself I would start my Journal when I got my first deal done. Well I should have started it two years ago and I would probably have done my deal sooner! I could have used the help from all the support of the DG family on here and the coaches on the Advisory Line especially most recently form Mike Kessler and many others!

I like to call this my “Sign-Deal” like the song says: ‘…a sign, sign, everywhere a sign…can’t you READ the sign…’ Heeymmmm, well y’all know the one by Five Man Electric Band!

I Can Do All Things Through Christ Who Strengthens Me – Philippians 4:13