OfflineHello DG family,
Now there's the BIGGEST lie I've ever HEARD! YES, ITS WORK! BUT... The title of this message is NOT TRUE in the LEAST bit! TEAMWORK. Build your network. I always trained my intern, now assistant by the way, that your NETWORK = your NET WORTH. Well GUESS WHAT? I have now officially completed DEAL #4 of the year IN SOUTHERN CALIFORNIA where it supposedly CAN'T BE DONE! 
This one was a short sale. Used NONE of my own money... AGAIN. Didn't even use transaction funding... and buyer pays ALL closing costs... as usual. This one was NOT by any means a knock it out of the park deal like my last one; not 49% of ARV with over 1/2 million of profit. NOO Siree! This was a really small deal. But, remember, you are buying for your BUYERS, NOT your criteria, and they have different needs and goals they aim to get on their profits. My buyer is only looking to make $35K on a deal, so this one was great for them!
WIN for the sellers (no foreclosure and they get $3K)
WIN for the agent ($15K)
WIN for the bank (the government subsidizes these short sales...)
WIN for the buyer (they'll make a nice profit)
WIN for my partners (they'll make a nice portion!)
WIN for ME (I get a payday too!)
So, here're the numbers:
My Contract: $330K
OUR FEE: $ 11K
Buying Costs $ 2K
Rehab: $ 25K
Holding Costs$ 19K for 6 months with a loan **OR**
3K for 6 months with all cash.
Selling Costs$ 25K
ARV: $430K (or $460K (in 6 months))
----------------------------------------------
PROFIT: $46,000 to 65,000 ROI 18% cash on cash to buyer based on speculative ARV of $460K
Our fee is being distributed like this. I tell you this to show you different ways YOU can make money!
Referral Fee: Paid to a guy who called me off craigslist. He didn't have a buyer. He just hooked me up with the people who did bring in the buyer
Buyer's side (they brought in the buyer on this one. All my buyers passed as I'm still building up my SPECULATIVE buyer's list
My side: $6000
Less referral fee: $1000
---TOTAL-----------$5000.00
Buyer's side: $5000
Less referral fee: $ 500
---TOTAL-----------$4500
WAAALLAA! There is money for everyone!
Now for the fun stuff! This one, although not as complicated as some of my deals, had a strange caveat happen. I've got to share, as there is always SOMETHING that happens.
On this one, when they went to do the extension on the short sale for me, the bank ACCIDENTALLY took my name off all the records in the system and lost it completely. So, we had to wait over a month for the bank to rectify that error. It was worth the wait, don't you think so?
I will say, there are many things that go on that I fail at that take time in between these deals. I'm still ironing out things, but the deal flow is getting better and better! ON TO THE NEXT!!!
MY HEART IS SINGING FOR YOU TAMMY!
I KNOW YOUR DEALS WILL GET EASIER AND EASIER!
THANK YOU FOR INSPIRING US ALL!
XOXO!
I Exist. I Am That I Am. I Know That I Know.
Your energy jumps out from your words. Bless you ... onward and up ward.
Marie-Buffalo/Ontario, Canada
Good for you, you always find a way to get it done. Way to go!
Cathy B
Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...
Congrats on your deal Tammy! You have always proven that if there is a will, there is a way
God bless and keep up the great work!
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Congrats Tammy, I admire your perseverance.
Well done.
Kevin
Kevin
You go girl!!
Teresa
College Station, TX
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"Declare that you will prosper despite every difficulty that may come your way. Don't just survive; thrive!"
-Joel Osteen
Now I just have to get that first out if state one complete. We've come close. Just haven't closed one yet.
This can be done everywhere! Do not be afraid to fail! Keep working it and never give up!
Tammy, I sent you a PM but never received a reply. Are you still looking for So Cal investors?
P.S. - Everything else is immaterial, irrelevant, and unnecessary.
Paul, please email me, I did not get an email from you. I have 2 properties in N Hollywood right now. Interested? I am not so good at messages here because I can't flag them to get back to them.
I love it, you prove it can be done here in So Cal as you know i am from San Diego so love it. question? so you made 10k on it? you got a fee from the buyer and the seller? if so sweet.
Tony
Go faster do more! GFDM!
I would love if someone in San Diego would partner up with me or be a mentor.
You show them Tammy!!! When someone says it cant be done, that makes me work harder to prove them wrong.
Reynold Orozco
Tony, and yes Reynold, it puts a fire under my butt when someone says "IT CAN'T BE DONE'. Its especially liberating when someone says they won't wholesale somewhere because its either too hard or too much work.
Kyla, I am looking for birddogs in San Diego too. Contact Tony above; I work with him in San DIego.
Pretty soon all of the naysayers around you are just going to quit talking. You are proving them wrong too many times. Keep it up. You are an inspiration to more people than you realize.
Bruce
"Success is overcoming obstacles on the way to achieving your dreams"
- Karl Mecklenburg(former linebacker for the Denver Broncos)
always looking forward to hear about your deals, especially here in Cali!... never a dull moment!
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/...
Tammy,
Thanks for the post. I remember you mentioned this during the EDGE 2013 event. Glad it finally went through. You're always an inspiration for all of us wholesaling in SoCal. Keep it up.
Dennil
Dennil
I've heard THIS Stuff doesn't work ANYWHERE. from ALOT of ppl.
HA HA HA... yeah Right.
IT has worked EVERYWHERE when ppl USE IT...Bottom Line.
MOST ppl are TOO lazy and do NOT have the Committment to Learn, go out in the field and do What it Takes to SUCCEED...but
They ALL have EXCUSES....for failing to Change their Life!!
Oh well.
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
And Mike, yes, it is true. It is NOT easy; it is NOT get rich quick; and it is NOT make money and do nothing.
But if someone takes the initiative, is prepared to fail (learning experiences) and get up after them; persist, persevere, tweak, and keep going.
Although at times people may get discouraged during their journey, as we all certainly do, it is a CHOICE and a PERCEPTION, about what to do with that discouragement and what destiny it has for one. Too many people stop 3 feet short of gold.
NEVER GIVE UP!
Now, I have to deal with 10 rejections for something else. I'm all over and on it though, and as I always have, I WILL SUCCEED!!!!