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."
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"Don't tell me I can't, Tell me how I can."
"Don't tell me I can't, Tell me how I can."
Thanks everyone for you kind comments
I got this lead from a ghost ads that I continually keep running in our local nickle ads paper and I found the buy by making a Postlets ad and posting it on craigslist..... It was an awesome deal.
"Don't tell me I can't, Tell me how I can."
congrats Ms. Piggy!!!
as you say, don't overthink it, just do it, and leave enough meat on the bone for your buyer!!!
Nice one!!!
Val
Valerie
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Great job Donna! Knowing the ARV and your negotiating that buying price made it such a steal. Thanks for sharing about the ghost ads and postlets. I learned about postlets at my local rei group it definitely works well!
Moving forward daily will get you to your goals!
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Hi Donna. Just wondered...what was the seller's motivation to sell so quickly?
Also, how did you verify that the buyer's had the cash?
Just trying to learn...thanks.
Teresa
College Station, TX
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Hi Val you are too funny!!!! thank you
John also thank you that feedback I have gotten regarding postlets is that they look so professional.
Teresa, This was an estate and I was dealing with the POA who was the deceases friend who had being caring for her. The POA had been away from home for 3 months caring for her dying friend. while she was caring her friend her friends druggy adult children were living there too and were hard to deal with...She just wanted to go home. She called me off of my ad "I buy houses"
We certified the buyer by having him bring a bank statement dated the day met.
I hope that helps
"Don't tell me I can't, Tell me how I can."
Nice payday Donna!!!! You are kickin butt n takin names!!!!
))
Every deal is compounding confidence, experience and $$$$
Keep the momentum rolling !! Congrats
Jay
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Hi Donna! Congratulations! How did you find your buyer? Did he/she come to you? Or did you cold call or something?
Blessings & much continued success
Jay,
you know I love ya!!! thank you for the kind words. We have got to keep rocking it!!!!!
investa.ga I'm not sure of your name... The buyer called me off of my ghost ad of ......I buy houses
"Don't tell me I can't, Tell me how I can."
Congrats Donna on your Great Deal now I need to get off my behind and do one too!
"With God All Things Are Possible Matt. 19:26"
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He's Rich For Life" - T. Grant
That's the way to do it DonnA! Way to go! Congrats.
Thanks Carol... I'm not sure where I heard that saying but it has stuck with me. Tammy thank you for you encouragement
"Don't tell me I can't, Tell me how I can."
Thanks Carol... I'm not sure where I heard that saying but it has stuck with me. Tammy thank you for you encouragement. Woo Hoo!
"Don't tell me I can't, Tell me how I can."
Donna: Thanks for sharing, that was excellent advice, education, Carol in Texas
You do make it happen girl!!
What a great deal!!
I like the extended inspection period, very good idea, especially for the higher end homes.
And yes, I would rather be a pig too.
You are such an inspiration.
Hugs
Julie
John and Julie Wakefield
JCW Properties, LLC
Hey Donna... after reading this post again, had a couple of more questions for you..
You said you got the property under contract for $120K and the ARV of it was $200K... What was the asking price of the property??
Also, and (you may have answered this before) but, did you have to pay anything out of pocket in order to get it under contract?? and if so.. how much?? if you don't mind...
Thank you very much for the info and for your knowledge & experience.. You are awesome!!
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You Guys are Rockin it up there
We Have to Make It a win-Win for Everybody
Love Our Bandit Signs
Like Val Said Let's Leave Enough meat On the Bone For Everybody LOL
Darren
And that's how you do it. I think you're right sometimes we do over complicate things. You show through this example how things really can be done. Thanks for bringing us back down to Earth.
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
Donna ,
Thanks so much for sharing ... I just enjoy reading of your success ..
You have a bright future in front of you .
Randy Sherman
Elkton MD
I couldn't agree with you more Donna. We do often make wholesaling too difficult. In the end all it really amounts to is finding a great deal and getting someone interested that is willing to pay slightly more than you. People do it all the time in other industries.
In real estate we let our minds get in the way. We say things like "why would anyone pay me $5,000 more when they could have gotten the property for the lower price themselves?" This is completely the wrong way to be thinking. We should have a mindset that says "I found them a great deal. Of course they will like it because I have provided them with a great way to make more money."
This is a great one Donna. Congrats on another successful wholesale deal.
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
Had to bring it back Donna, its true don't over think it just work the deal..
Aaron
thx donna