Deal #2 REO Duplex for $22,500 in April 2009.....How We Contacted the Bank and Beat the Auction Sale!

Wow... as much I like to spread the front page around with all sorts of posts from everyone you are just streaking right now!

This is wonderful, I am so happy for your success in this game and appreciate you posting the details about how your deals went down so other people can learn from your experiences. Way to pay it forward!

Thanks for posting my threads on the front page. I do feel honored to be sharing my stories with the entire DG family. I appreciate your kind words about our success. Sometimes when you find the write resource (Dean, his books, and the DG website), it can make hard work and a determination/drive to succeed become a reality. I appreciate and value the DG website and the DG family of members because it is something we so desired for such a long time. Good luck with all your current and future deals! Believe and Achieve! Indiana-Joe

Thanks for the congrats and kind words, we really appreciate it. Good luck on all your current and future real estate deals. Believe and Achieve! Indiana-Joe

Hi Joe,
Congratulations on your deals. What ever fever you have. Pass it on!
Continued success to you and family...... Lubertha

Congrats is in order on such a sweet deal you received.

Did you keep the house for yourself. Because I was wondering if the bank finance or did you have to pay cash?

Thanks for the email and the congrats. I believe we are on a small roll and I hope we can get a few more. I also believe you can get the fver too. Good luck on all your deals. Believe and Achieve! - Joe

Thank you for the congrats on this deal. We were fortunate and were able to refinance deal #1 with a local small bank to get some extra cash. With that cash, we were able to pay cash for deal #2. After the property tax credit, we only had to come to closing with around $16,000. We will keep this one as a rental unit too. We are following Dean startegies about keeping the cash flowing rental units until the market changes and becomes a sellers market. At that time we may decide to sell. Good luck on all your deals! Believe and Achieve! Indiana-Joe

WOW!
Nice going!
Another great story!
Congratulaitons again!

Angela

Thanks for the congrats, we appreciate it. Today I found the "Thread-O-Quotes" you started a while back and I thought it was great. I really enjoyed reading everyone's input and inspiration. Keep up the good work and good luck on all those deals. Believe and Achieve! Indiana-Joe

Congratulations on the deal Joe. Wishing you good investing.

Thanks for the congrats. We are trying our best to keep moving forward. Good luck to you on all your real estate deals. Believe and Achieve! Indiana-Joe

Joe,
Great Job! Keep up the success and hopefully pass it around.

I wish I could do that deal, but I'm a teenager with no job and only $1,500.

Thanks for the kind words and congrats. In today's down real estate market I am sure there are even more deals so I am sure one will be coming your way. Keep looking and making a lot of offers and something will come your way. Good luck on all your real estate deals. Believe and Achieve! Indiana-Joe

Thanks for the great job. It does not matter if you are young or have no down payment. Keep looking for a deal and if you find a great deal I am sure you will be able to find a partner in your area. Also, refer to Dean's book about finding deals and then assigning them. This may help you build up some cash. Be sure to meet a lot of people and network. Once you are on your way you may be able to retire before you are 30. So, keep on moving forward and learning as much as you can. Good luck on your future real estate deals. Believe and Achieve! Indiana-Joe

Keep up the good work. I just got my first offer after three monthe so i know how you feel. Good Job. Do not let anybody deter you from your dream gofor it
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Refuse to Lose

Thanks for the congrats and inspiring words. Good luck on your present and future real estate deals. Believe and Achieve! - Joe

This is great - I am so inspired. You are doing great things with real estate and it sounds as if you are having fun as well.
Kat

Thanks for the congrats and positive comments. My wife and I are having a great time with real estate investing. We owe it all to Dean, because after we got his book, "Profit From Real Estate Right Now", and were fortunate enough to be able to attend Deans' live Gain the EDGE event it has given us a new focus and drive to succeed. We are so happy and glad to be a part of the DG website community. We look forward to hearing about your success and good luck on all your deals. Believe and Achieve! Indiana-Joe

Great job guy! Way to go. Smart thinking and a great strategy. You rock.

Thanks so much for the congrats and positive remarks. Good luck on your present and future real estate deals. Believe and Achieve! - Joe

Hey Indiana Joe,

Did the lender provide you with a clear title for the property when you acquired it or did you have to have a title search done prior to closing to assure no liens were placed on the property??

The lender in this case did provide title insurance to ensure clear title for this property. The lender also paid for the cost of the title insurance policy. When you draft the purchase agreement contract, it specifies what type of title or title insurance you will receive when completing the transaction. Thus, this is a very important area of the purchase contract to review and understand. I always want to ensure we get clear title on all properties that we purchase and title insurance is key. A little more work in the beginning saves a lot of headaches down the road. Good luck on all your deals. Believe and Achieve! - Joe