OfflineHey everyone. The name is Stan and I just wanted to share my first deal with anyone that cares to read it..
Well, this is how it started.
How it started.
I knew a good friend that had a property that they were not doing nothing with, so I offered to help him move it.
The property was a burned down shell that he originally purchased from a sheriff sale in a somewhat suspect neighborhood.
Here is what I did. 1st, I got the address and placed it on Craigslist and then within minutes someone called my cell and ask to see it.
So I met him the next day, but after we went inside they didn't want to purchase it but he offered to help me sell it to one of his buyers.
After a few weeks, he found a buyer and a month and half later, after all the title searches, water meter installations and all the research was done on the property it sold finally today.
I didn't charge the seller nothing since it was a friend, but they person that eventually assigned the property to the end buyer had a deal with me for $500.
Well, it was my first deal and now, I am looking for the next one that I actually get to assign myself so I can make more of the ca$H.
by the way...
My friend wanted 11k for it, He sold it for 6k ( however, after all the taxes (3 years worth), liens, water bill and other fees that came up on the title search, he ended up with about $3,110.
Stan
Entrepreneurship - Is living a few years of your life like most people WON'T, so that you can live the rest of your Life like most people CANT!
You have to start somewhere. I hope you learned some things on this deal so the next will be more profitable for you but alot better than just sitting here on this site and learning without getting out there. Looking forward to hearing more from you in the future!
Moving forward daily will get you to your goals!
"You become what you study" - RTK Rich Dad Poor Dad
http://bulkassets.com
Money is money. It all pays the bills. Congratulations. You really need to fill out your profile. It helps us to help you when you ask questions. We can give you better information based on where you live.
Deal, it's a deal! You made $500 from thin air! You didn't use your money or even your own credit. Keep moving forward.
Cathy B
Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...
Getting 500.00 is a nice check but the learning experience is priceless!! keep going.
best of luck.
Richie
Even though you didn't make as much as you wanted....You earned some experience and got some cashola in your pocket!!! A win is a win!!!
Kim
Congrats Stan,
not only did you create a deal out of nothing, but you also helped a friend get rid of a problem; and through it all, you learned how to wholesale a property and communicate with other investors which will serve you to wholesale many more properties in the future!
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/...
Yes, I did learn a a lot from this deal. It took a long time, so I got to learn the do's and don't of the business.
Thanks for the comment appreciated.
Entrepreneurship - Is living a few years of your life like most people WON'T, so that you can live the rest of your Life like most people CANT!
Walt,
I updated my profile today. It's short but it says what I think is important to me.
Thanks again Walt for your comment.
Stan
Entrepreneurship - Is living a few years of your life like most people WON'T, so that you can live the rest of your Life like most people CANT!
Thank you to everyone for taking the time to comment, I really luv how people give advices as well as motivation on this site. That's why DG my favorite RE investment related site online.
I do have a update to report. My friend that I sold the house for gave my 100 dollars, so the total profit is now $600.
I am sorry I took so long to reply but I was having serious issues with logging in, could not remember the password nor the email address that I used to sign up for this site.
I am trying to work on deal #2 now, I have a few leads on some houses that people are looking to move and now I am trying to find buyers for. I'll keep everyone updated.
I love the chase that's involved in finding these new properties. Dean has a networking RE event happening on the 25th-30 of September in Philly, so I plan on going there to meet some future buyers or sellers.
Entrepreneurship - Is living a few years of your life like most people WON'T, so that you can live the rest of your Life like most people CANT!
nice congrats feels good huh? that's how i felt when i got my 1st deal, makes you want more huh, im sure youll have something soon
Tony
Go faster do more! GFDM!
Good Job Stan,
Nice going. I'm going to tell you that the deal you did it is a good deal. Nothing to be embarrassed about. I bought a property when I was very young and always felt bad about it. I didn't do another one for 10 years. One day I attended a seminar and I learned how to calculate my return on investment and learned that I made a lot of money in actuality.
EJ
I'm jealous! Good job on your first deal! Don't worry about how you perceive the size of the deal: a deal is a deal! I'd be stoked! Congrats, man. I wish you the best of luck!
Jonathan Atom
Way to go Stan! Maybe a baby deal, but it's a deal! Way to make it happen and the bigger deals will come!!
Maurice
In order to lead, you must first learn how to follow!
What are you talking about BABY DEAL????
To Me That Would Be A SLAM DUNK DEAL,,being that it is your First, I'm Proud of You Big Guy. Now, go out and Get Her Done Again..!!$$
CONGRATS STAN,,
Romaluv22
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!
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500.00 is good deal I don't know what your saying you jumped in there and did it. Way to go Stan