OfflineDEAL DONE!!!!
Yesterday our latest wholesale deal was completed. We assigned it for 8500.00 CASH!!! I think we make wholesaling harder than it is. We got this property under contract on 8/22 and sold it on 8/28. DEAL DONE!!! Now I have other people says now why did you let me have the deal!! LOL
It was a win/win/win deal it was a estate. I negotiated an awesome deal. Smiling The home needed cosmetic repairs only! floor paint and minor repairs. It was a 3 bedroom 2.5 bathroom 2000sqft in an upper end neighborhood. ARV is a strong 200k I got is under contract for 120K. I had thought we would assign it to a flipper so I set the price at 128500.00 and I created a Postlets ads and published it at 9:30 pm on 8/22 and had a phone call for the buyer at 10:30pm. They went to the house then , in the dark, and looked it over. They called me again at 0730am and we had a pending deal at 10:00am. They buyers are a young family that had cash (verified). and they wanted to pay for a home inspection. So Dan and I agreed to that.I knew this was a steal of a deal so I wasnt worried if they backed out. Dan had negotiated a 35 day inspection period and an extension if needed. We technically had control til October 11th.
Yesterday, we all met with the inspector. After he was finished with the inspection we collected our cashiers check for 8500.00!!
The seller was so excited and surprised we closed so fast. The buyer is extremely happy because they got a nice house in a nice neighborhood for a steal of a deal. The inspector made money and We walked away with money in our pockets!!!
In hind sight we could have made more money but you know what they say......."Hogs get slaughtered and Pigs get fed, I'd rather be a Pig."
__________________
"Don't tell me I can't, Tell me how I can."
"Don't tell me I can't, Tell me how I can."
Congrats to you on this!
~NickandGen
~Blessed beyond measure and enjoying life to its fullest!~
And thank you for sharing!
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.
Thank you for sharing, very inspirational.
how did you find your buyer?
Donna that is awesome...... CONGRATULATIONS KEEP THE SUCCESS STORIES COMING I LOVE'EM
Congrats on the deal Donna... this post is awesome and very motivating.. but, I had one question... You said you created a "postlets" ad... what exactly is this??
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Are you saying you got your fee before the close of escrow ????
I just bought Dean's book "30 days to Real Estate Cash" This testimonial is a great inspiration to someone like me who is completely new to wholesaling. I can't wait to make my first deal!
Bless you!
Mary Ann O.
Walt,Yes,we were paid our fee when we signed the assignment addendum, before closing. That is how we do it all the time otherwise they might back out and that I made my money even if they back out.
"Don't tell me I can't, Tell me how I can."
Eric Postlets is a free marketing tool that allows you to upload pictures and enter data about any property your trying to sale. Postlets.com. check it out
"Don't tell me I can't, Tell me how I can."
Congrats Donna!! Thanks for posting!
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!"
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ya, Walt had sent me a message of what it is... I checked it out yesterday and it looks like a very helpful/good tool for wholesaling...
So Donna, this deal you just finished... IF you don't mind me asking... Did you do it with no "out of pocket" money?? or did it require some kind of earnest money..??
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
****Visit my websites at www.p-rproperties.kwrealty.com and at http://p-rproperties.yourkwagent.com
"Whatever I will become will be what God has chosen for me." –Elvis Presley
Thanks Donna,when your just starting out you like to hear deals like this.
aaron-n-suzy
What was your lead source for finding the seller on this one?
Thank you
Kevin
Congrats on another great deal! You are right! It is so easy that people often think there must be a catch! There ISN'T!
HAHAHAHAHAHA! That is the sound of laughing all the way to the bank!
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!"
Walt and Eric,
we put 500.00 down. We normally put down 25.00 but the 500.00 earnest money was a deal breaker for her so we went ahead and did it because there was so much margin. So we netted 8000.00. Great question.
Teresa,Aaron and Susie and Kevin. Thank you for commenting. When I first started, reading other successful students really helped me so if think it is great to share with you guys.
Karen I think I'm getting the hang of it. I still haven't been unsuccessful with the 25:1 off the mls but the FSBOs are awesome bandit signs and ghost ads..
.
"Don't tell me I can't, Tell me how I can."
hey I say pig is great.
whether you think you can or you think you can't, you're right.- Henry Ford
keep moving forward, rob
Thank you for sharing. Is this your first deal? Congrat to you. Thanks for the push out of my rut.
Sucess
Also thank you for sharing Postlet.com
hi Ms.Donna my name Edna Boyd i need you to show me how i can do some deals i read your article just lost my job and its hard to find someone to take me by the hand and show me how to wholesale some deals i wnat to learn how to do co-wholesaling but theres nothing on co-wholesaling i really need your help please help me. thanks edna you can email me at boydedna@****
Thank you for follow up
Kevin
NICE one Donna! People truly do over think wholesaling and that over thinking leaves them afraid and paralyzed. It's actually a very simple process indeed
I like the pig reference...lol
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
I am working on my first deal, I didn't really understand at first, you know the (money, buyers)but I haven't given up.
Donna,
Thank you for sharing your results with us. I really enjoyed reading your inspirational post.
Jason
Donna,
This really is an inspirational story! Thank you for posting and letting us know the specifics of your deal! I hope to one day be able to accomplish such an amazing feat! Pardon the bother, but how does one calculate their assignment fee? Is there a percentage that you usually accept per the equity in a a given deal, or is there another means of calculating your fee? Also, if you don't mind me asking, are you doing this alone, or with help from the Success Academy or Workshops?
Best of luck on your continually growing your business,
Jonathan Charles Atom
Keep it coming Donna! How did you get the leads for your estate deal this time?
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew
Congrats that is awesome Estate sales are so cool, we are working on my 2nd deal my partners & I in KC MO & we are so close again, we had some prop's under contract but had to rebuild our buyers list they were too picky oh well a suuuper learning experience & it is all research & development right and Edna I have only done one deal but have learned a ton of stuff and I can tell you how to get your first deal of course
msg me & I will do what I can ok God bless.
Tony
Go faster do more! GFDM!
Wow Donna~ Good on you and thanks so much for this very inspiring post!~Wonderful quote about the Hog versus the Pig! Very visual! Keep it up, I know I soon will be posting the details of my successes and my deals too!
Yay! Yay!
I think that has been my problem from day 1.. I'm back on track.. I let everything possible get in my way. No more!!! Time to feed this pig!!!
Josh
"The best is yet to come."
"Never let someones opinion become your reality"
Great job, congratulations! I think you are so right about over complicating wholesaling. It's not hard once you take action and start making offers!
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