OfflineFINALLY!!! After months of hard work, I finally completed my first wholesale deal! And, it ended up being a three property deal!
Through my marketing efforts, I found an investor who had properties in my area, but he lives in another state. His properties were vacant, and had been vandalized. He was ready to sell.
I had already located a buyer who was interested in the type of properties that the seller had. So, it just came down to finding a price that we could agree on.
Ultimately, I bought all three properties for a total price of $90K, and sold them for a price of $102K. And, since I did a same day closing, I made a $12K profit without using any of my own money!
Now, I'm off to do it again!
Happy investing everyone!
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
Congrats to to Steven! As they so, "rinse and repeat"
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.~
As they say "rinse and repeat"!
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.~
Congratulations! Now like you said, on to the next one! Good Job!
Michael
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
I know that you have been working very hard for a long time! You are proof of what we always preach, if you don't quit and just keep doing it, you will WIN!!!
I am thrilled for you! The next ones will be easier!
Best of luck!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Now you have it down, hopefully the next will be faster!
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.
Good on you, Stephen!! That is just great. How you got up the courage to do 3 first time deals all at once!--well that is just so inspiring to me! Onward and upward! Fly with the Eagles!
Great job! Knowing that there are other "first timers" out there that are succeeding helps me "keep on keeping on." Onward!
There you go Stephan! Way T Go! Keep Up The Momentum!!
Romaluv22
Signing Out,
Ronda
I have finally made up my mind to take control of my own Mind and Destiny. I am confident with the Faith in My Higher Power, I will Achieve what I Believe., In His Mighty Name, AMEN!
FOLLOW//LIKE ME AT:
http://www.wholesalemnhomes.com/
http://www.sellyourmnhomefast.com/
www.linkedin.com/pub/ronda-love/52/525/655
https://www.facebook.com/minnesotawholesalehomes?ref=bookmarks
https://twitter.com/lovr_l
Well I have to say that this is my first time blogging. " Ever" It is also my first time in a lot of things. I'm brand new to REI and I'm excited. I've been reading Deans books and trying to get as much knowledge as I can before making the plunge. I am currently getting my real estate investing team together. I secured a lawyer and a real estate agent so far and the rest of the team hopefully by next week. I am also getting bandit signs made and working on flyer to start working on my buyers list. I will say this I am a little nervous and anxious. I know I will make this happen.( thanks kareng) I know if I have a question the DG family will help me figure it out and I thank you for this.
JMart68
=======================================================
LOSE YOURSELF IN THE MOTION
Congradulations Stephan,
I am a maotivated 3 day old student of the program, yet I am interested in how many months did it actually take you to make the first deal.
Again, I know it must feel great to get a check for 12k invest wisely.
Success!
I Exist. I Am That I Am. I Know That I Know.
Now on to the next one ..
Congratulations!! Inspiring!! Keep it up!
mIcHeLLe
THOUGHTS--->WORDS--->ACTIONS
SUCCESS STORY COMING SOON!!
that's great, congrats on to the next
JMart68
=======================================================
LOSE YOURSELF IN THE MOTION
Being nervous is natural. Believe me, it happens to all of us! You will get past this.
Good luck!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
3 homes for one price? Wow! That's at I call a pkg deal. Way to go, Stephan! On to the next deal.
Many congrats for your perseverance! Like Karen said; the next ones get easier.
John
Quitters NEVER win - Winners NEVER quit!
"P.U.S.H. = Persevere Until Something Happens" Dean
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas A. Edison
Check out my Road to Redemption journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/88171/...
www.windfall-properties.com
Hi Stephan,
Congratulations on your first deal. Great work and thanks for sharing.
Laura
Hey Kevin,
The short answer to your question is that it took me 1 year and 9 months. This may seem like a long time (and it is [smile]), but there is more information you should know.
1) During that time, I've also done some bird dogging where I've just advertised using bandit signs and forwarded the leads to other wholesalers and gotten paid a couple hundred bucks once they actually closed on the deal. This helped to put a few dollars in my pocket while I continued to educate myself on the business.
2) I did have other deals that I got under contract before this one, but either the seller wanted too much or the buyer wasn't willing to offer enough, so the deals fell through.
3) The market was a little different in my area a year ago. Property prices were still falling and there was a lot of inventory. So, if I didn't get a property for a giant discount, then a buyer would just pass on mine and go to the next house that was probably even cheaper. Don't get me wrong, investors were still wholesaling, I just wasn't savvy enough to find the best deals in order to move them. My knowledge and confidence levels are a lot higher now, for me to know that I know what I'm doing (plus, during this time, I've built relationships with people who know a lot more than I do, and are willing to work with me).
So, even though it took me awhile to do my first complete wholesale deal, I HAVE been making money in real estate over the past year. And, there is nothing stopping you from making money (even in a wholesale deal)over the next couple of weeks. The key thing is that you've got to be serious about this.
When I first started a little over a year ago, I was nervous just calling a real estate agent. Now, I could stand up in front of a room of people and talk about real estate all day. It's all about "balance". Learn your craft and your industry. Become an expert. But, don't stand still while you are learning. Make sure you are moving and taking action. But, don't stop asking questions and gaining a better understanding of what you are doing. Balance is the key.
Bottom line, lets say that it takes you two years to do your first deal. Two years is going to pass regardless. So, wouldn't it be nice if two years from now you are an expert in investing in real estate, and you have it as a revenue stream whenever you want? This journey is yours to take. It won't always be easy, but life in general isn't always easy. So, just know that as with most things, you'll get out of it what you put into it.
Happy Investing!
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
Congrats! Now go do it again
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
http://realwholesaling.com FREE wholesaling tips and resources!
To your success,
Carol Stinson
Stephen,
What a great deal for your first wholesale deal. I see that you've done some bird dogging but still this is terrific. I'm curious though, unless you've already answered this, did you use an Assignment of Contract strategy or did you have to Double close it? Either way is fine just curious.
Again, this is great. Glad to see you moving forward!
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich
Wow, that is great. I look forward to hearing about your next deal and so on. Keep up the great work. Wisdom is knowlege at work. Once again congrats on your first deal.
Sucess
Well Stephen now your off the runway and in the sky and it will keep getting better, Jim
jbischoff
Hi your doing very well your team is coming around, thats the ground work the rest is just talking to people which you probly do every day and put a deals together, being nervious is better than doing nothing now your on edge and back in school again and oh what a future you have ahead of you, get up every morning and be thankful count your blessing for each day and keep working, you will get there, much success, Jim ( cant sit in the nest if you want to fly with the eagles, isnt life so much fun)
jbischoff
Congratulations!
The first step is always the steepest.
Your efforts have been rewarded, now it is time to move forward with the next deal.
Keep us posted.
Happy Wholesaling!
Stay Focused
RER
Big Congrats, especially for your perseverance and hard work! That's what it takes to make it as a real estate investor! Now you can sit back and enjoy the moment!!!... Ok, enough rest...time to get up and go out there and get another deal!
Wishing you continued success!
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/...
Your hard work has paid off. Good luck with your future investing!
Thanks for the inspiration and congratulations on your success!!
"Miracles R Achieved When Believed"
'And the Lord Thy God Will Bring Thee into the Land Thy Fathers Possessed, and Thou Shall Possess it; and He Will do Thee Good, and Multiply Thee Above Thy Fathers," (Deuteronomy 30:5, King James Version)
'I can do ALL things through Christ which strengthens me!' (Philippians 4:13, King James Version)
Good things come to those who take action!!! Your story is inspiring and thank you for sharing. You are an inspiration and I am next in line for greatness and success!!! Happy Investing to you as well!
"Miracles R Achieved When Believed"
'And the Lord Thy God Will Bring Thee into the Land Thy Fathers Possessed, and Thou Shall Possess it; and He Will do Thee Good, and Multiply Thee Above Thy Fathers," (Deuteronomy 30:5, King James Version)
'I can do ALL things through Christ which strengthens me!' (Philippians 4:13, King James Version)
Stephan,
I loved reading about your experience.
You have such a great attitude and philosophy!
Building confidence is so important and I think it's so cool that you recognized the pace you were comfortable with and followed your own path as you continued to educate yourself. Way to go!
You will go far, I have no doubt about that!
Thanks for sharing such an inspiring story
Julie Wakefield
John and Julie Wakefield
JCW Properties, LLC