OfflineSo I finally did it. Got my first rehab deal under contract. I am working with an investment company to get the deal but it is a good way to get my feet wet. My father is my financial backer and the company I am working with is helping with the acquisition, rehab, and sale of the property. The property was listed for $55,000. We are getting it for $51,000. Comps in the area are around the $120,000 + range. We will need to put approx. $29,000 worth of work into it and then put it on the market for $115,000. After all is said and done (within 6 months) and after splitting the profits with the company we are partnering with, we will walk away with about $11,000.
Let me tell ya, a lot of the work is not being done by me, but the guy I am working with is taking me under his wing and showing me the tools of the trade which I am estatic about because this is how I am going to learn. It has taken me about 6 months to finally do my first deal, but I did it and we close in about 2-3 weeks.
HEY IF I CAN DO IT, ANYBODY CAN!!!!!!
Thanks to all for your continued support and helpful information. And to those who are still seeking out thier first deal, keep to it and the right one will come along soon enough.
I DID IT!!!!!! FIRST DEAL IN THE BAG
Posted on: Thu, 07/23/2009 - 19:44
I DID IT!!!!!! FIRST DEAL IN THE BAG
__________________
-
- by southpaw025
- Login to post comments
congrats! thats awesome!
Success and Nothing Less!
This is awesome news!
Congratulations!
Angela
Thank you all for the support. Its people like you and everyone in Deans family that keep our hopes alive and helpus through the tough times.
Thanks again for all your support.
Tim
Congrats on learning the trade and making it happen, and yes, anyone can do it!!! Great job!! Keep us posted and let us know when you close.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
congrats! I hope the rehab and sale workout. Good job
Tim, as Jeremy said, "learning the trade and making it happen" added to that is, taking action and making it happen. Congrats for a job well done. God Bless.
Sandra
"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.
Tim, I'm so excited for you. You are on your way, keep it going and make the next one even better!
Dosen't it feel GREAT? Why to go!!!
Its a long way to go...this is a scenario of your dealing. I would like to hear from you when everything is finalized and as to how much you actually made from the transaction. Anyway...its a good start...dom
We can feel your excitement! Keep to momentum & get ready to bag another great deal.
Joshua 1: 8-9
"Study this Book of Instruction continually. Meditate on it day and night so you will be sure to obey everything written in it. Only then will you prosper and succeed in all you do. This is my command—be strong and courageous! Do not be afraid or discouraged. For the Lord your God is with you wherever you go.”
congrats man! that is really awesome!
God always make a way for us.
God Bless man
Thanks to all who have responded so far....I feel almost like a celebrity LOL
But in all seriouslness, I appreciate the support I've been getting from everyone. I am actually in the process of re-reading Dean's Profit From Real Estate Right Now and the next thing I will be doing is setting up the pre-recorded message and begin marketing so I can sccop up my next deal. This has gotten me extremely excited and has given me the hope that I just might be able to pay for my wedding next year (Aug. 20, 2010).
Thanks again to all.
Tim
Keep making offers and you will do alot more deals.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Thank you for the motivational activity you have completed!
Lynne M. Keller
Congratulations on your first deal. Way to go! Keep up the good work. Good luck on this deal and your future deals. Believe and Achieve!
- Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Always glad to hear someone making their first deal. It is an inspiration to me as I am working on my first deal as well. Correction -- looking for my first deal !! lol!
Congrats to you for making it work ....
than the excitement of getting your first deal! Congrats and I'll look forward to following how it all works out for you! The really good thing is - that same rush of excitement just keeps coming with your next deals too!
www.adeptpropertiesllc.com
my story:
http://www.deangraziosi.com/node/10404
You bet the excitement is over the top right now. I will definitely keep everyone posted about the status of the deal. Thanks again to all for the continued support.
You bet the excitement is over the top right now. I will definitely keep everyone posted about the status of the deal. Thanks again to all for the continued support.
Hello,
southpaw025 the news of your deal,Is really great. You stated about a company that is helping you thru...Start to finish! The reason why i ask is,You said your team player is the backer.There are no goofy questions(i do not like the term stupid). Thanks for keeping the faith.
Invest in yourself!
Never quit, and never give up. Success is only a deal away. Congrats!
I've tried and failed, tried and failed, and again I try. Why don't I give up? I'm hard headed and I Will Succeed or Die Trying!
We are excited for you and we hope to join you in sharing that same feeling soon. Congrats again - be blessed.
Teddy & Crystal G
P.S. - Dean successfully guides another. It's amazing - The Power Of Action.
Teddy Galang - Think A Little Different!
OfferBot® by Freedom$oft. The Lowdown 25:1 Offer strategy, just
became 1000:1,2,3, or 4 automated. Save Massive Time and Energy.
Watch Video Tutorial >> http://teddygalang.com/real-estate/offerbot/
I am very excited and happy for you. Keep on making deals southpaw025. God Bless you and many more success for you. Tom Hayward
This will be a fantastic catalyst for you if you learn from the experience and then work to find more and even better deals. Happy investing!
Regards,
Tony Tomasek
I'm happy to hear that you've done your first deal. It makes me excited and even more motivated to go out there and make it happen. Best of luck to you.
Alister
That's absolutely incredible! I'm happy for you. First one in the bag...Keep baggin' em!
When you don't have more, you have to create more. - Cre8mour
It's inspiring to hear stories like this. I am new to DG and trying to contract some property in Norfolk, Virginia.
One in particular is a 3bdrm, 1.5 bth FSBO selling for 137,000 and city assessed at 206,000. Needs no work but I have zero dollars to invest. Still looking for ways to do the deal.
Any advise would be appreciated.
Does anybody know if assignment of contracts are legal in Virginia?
Whatever the mind of man or woman can conceive and believe, he can achieve. Life is 10% what happens to you and 90% how you react to it.
Congratulations!! I bet you finally feel such a great relief. I know I will thank the heavens once my first deal is done. God bless and keep it up. One done deal can be the last done deal so stay inspired!
Take care,
Robert M. Burkett CPA
Stay Active & "WORK IT OUT!!"
Get your "Daily Dose" & check out my journal at the link below!! I would love to hear from you as well!
http://www.deangraziosi.com/real-estate-forums/investing-journals/27368/...
I am very happy for you. Keep it up this only the beginning.
Dedicated & Motivated
great job my man !! very excited for you!! keep that fire burning good things are happening for you because you are getting out there and making it HAPPEN!!now go get the next one!!
Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...