2 Deals and $15,000 Profit in 30 days!

2 Deals and $15,000 Profit in 30 days!

Hi fellow DG family!!!
I haven't posted in a while, but I have to post these last 2 deals I just did, they are my 14th and 15th deal since I started wholesaling 3 years ago, part time...I post my deals as proof that anyone can do this. I post for newbies to see it CAN be done, but you can NOT quit and you have to keep at it.

So my 14th deal which closed on June 25th was for a profit of $7,100 (assignment fee). I got this lead from a bandit sign, yes a BANDIT SIGN! They still work and they always will in my opinion. It was a fire damaged property on an acre of land in a good area and the seller just wanted to sell because he didn't have the funds or time to repair it. I offered him a price and he had to notify the insurance company because they were getting the proceeds, not the seller. My initial offer was 50,000 and they accepted but it was too high because I couldn't find a buyer, so I went back to the insurance company and asked for a price reduction and they gave it to me, so I was now at 40,000 purchase price and I had a buyer in 2 days who said he'd pay 42,000. So, I was already going to make a 2,000 profit, but I wanted more on this one so I actually went BACK to the insurance company and asked for ANOTHER price reduction knowing the worst they would say is no (this made me very nervous but I did it anyways). So he said they were going to talk it over and let me know and about 7 LONG days later, the guy called me and said YES to my request so now we were at 35,000 purchase price!!!! So we closed the deal with my buyer about 11 days later and I received a check at closing for $7,000!!!! Amazing right...

So while that deal was working itself out, I had a guy call me from my craigslist ad that simply says "Im an investor looking to buy houses in any condition etc". He said he had his dads house that was an estate/probate house that was a mess and he was just looking for someone to take it off his hands. I looked at it and it was in a pretty good area but it did need about 20K in repairs and there was mold in the kitchen. I made the offer of 8K and he accepted it (he was just happy to get an offer he said) and I put it under contract. The very next day, the first buyer I showed it to said he'd take it since I was only asking 16K for it and ARV was around 60K so it was a great deal for an investor. So we just closed on it on Monday and I received a check at closing for $8,000!!!!!! That was my most profitable deal yet!

So that's $15,000 in only 30 days!!!! I cant believe I'm even doing these deals, its crazy. I'm telling you, ANYBODY can do this. I've seen a lot of wanna be wholesalers come and go in my market over the past 2 years. Yes it takes WORK but its EASY work.
Thanks Dean for continuing to contribute to this great site and for all of your motivation and enthusiasm. One of these years I WILL be at the EDGE. (maybe I'll even be on stage speaking one year!!!)
Thanks for reading everyone and keep doing great things!! Hey Michael M, I'm still trying to catch up to you buddy! Hopefully one day SOON!!

__________________


JOSEPH FANTASTIC - CONGRATULATIONS MAN

that is awesome !!!!

WALT


Congratulations and Thanks

Congratulations! Thanks for sharing that.
It's so encouraging. I just got a copy of
"30 Days To Real Estate Cash" and I am looking forward to following your lead.
Thanks again and best of luck!


Congrats

Thanks for sharing.

__________________

"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.


Syndicate content