OfflineI finally gotten one in the bag! Hooray 
3/1 it's truly a 2/1
Acres: 0.2238
Living space:1080
Appraised: $66,700.00 (County Assessors website)
Last brought for $35,000 in 20 Sept. 90 (County Assessors website)
List price $6000
Offered $6000 plus Seller pays portion of closing costs
HUD only pays 3%
Offer was accepted. Now just got to wait on clearance of title (title check) and then we'll close hopefully before the end of the month.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Congratulations on your first deal Atlcamel! Keep it up!
Gerald
VIG Homes
VIG Homes on Twitter
"Far better is it to dare mighty things, to win glorius triumphs, even though checkered by failure... than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat."
-- Theodore Roosevelt
Hey bro thats inspiring. hope the best for you.
"But seek FIRST the kingdom of God and His righteousness, and all these things will be added to you." - Matthew 6:33
Congratulations on your deal, Atlcamel!! Keep up the good work! Can't wait to hear about your 100th deal.
Brian
Atlcamel, that's great that your first deal is in the works! I'm working on finding my first one, hope to be there soon! What are the approximate repairs that you expect to complete on this HUD home? Just curious.
Chris
This is awesome news!
Congratulations!
I love the post from Jason above that says you must be in line with your destiny to find such a great deal - I agree! You deserve this.
Angela
This is awesome news!
Congratulations!
I love the post from Jason above that says you must be in line with your destiny to find such a great deal - I agree! You deserve this.
Angela
I am so happy for you Alana. You are definitely full of determination. Great job!!!
awesome job on deal # 1 i am happy for you. i have not been on for over a week and alot has happened especially for uuuuuuuu!!!!! great job !!
jay
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I recently did my first deal and bought a rehab in PA...great cash flow..only paid $7600...ARV $65k, rents $600-650...I have advertised in Craigslist and other sources, but should I list with a local realtor also?? I am feeling really lost in marketing...I am a newby...got really excited about this deal..now I have it...what to do??can you help? thanks
"No matter who you are it's the simple things in life that lead you to believe that you can achieve anything"...
http://housesold4u.com/
stick a For Rent sign out front? Unless you're talking about selling it? Keep posting it online for a while, or even offer it to any buyers that you have on your buyers list.
Bryant Slade
Good job on your first deal, you did pass the warm up test!
Everyone Can Make A Difference!
John A.
I'm not going to rent or sell it just yet. This property was owner-occupant HUD listing. So I'm going to live in it for a while.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
You will need a POF letter or letter from your financial institution verifying you have funds to make the purchase. The earnest money deposit is assurance to the Seller (whether privat or Bank-owned) that you (the Buyer) will fulfill your obligations on the Purchase and Sales Agreement contract. Now I did submit a different POF letter for each property I bidded on, representing the bid amount that I was willing to pay, for whatever prospective property. I didn't give an earnest money deposit for every bid. Only if, I repeat, only if my bid was accepted by the Seller/bank did I turn over the EMD to my real estate agent.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
exceed $5000 like the appraiser said in their report that they do on each of HUD listings. I'm going to have to replace the shingles they're at the end of their life expectancy, repair the porch, double check plumbing (including replacing the hot water heater because there isn't one in the home)and I have some other minor repairs to make it livable for the time being.
Chris
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
if you're going to list it with a Realtor, after you've made the repairs, negotiate their commission between yourselves. Find out what they're going to do for the amount of commission they're wanting to make (if you need property management or if you're going to sell it). You can also advertise it on postlet and vflyer. These sites syndicate your posting to other sites including Craigslist. As you already know you can advertise it in your local newspaper (online/offline-in print). Word the Ad to appeal to the most Buyers that it meets their needs.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Praise be to Allah! We're finally, finally, actually going to closing (Deal #1) on Oct. 27th. Inshallah, closing time will be confirmed from the attorney within a few days. I requested that my agent forward me the HUD-1 asap after the attorney prepares it(which I will share). Since this transaction is a Cash Deal (using my own funds), my closing costs will be relatively low.
doing cartwheels.
After the closing, I will have less than 4 days to move out of rental I'm in, clean and paint, and turn over the keys to my landlord all before the new Month. I'm
to finally be putting this one behind me and moving on to the next.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Where would I find a real estate club/group in new york city?
You motivate me soo much! im in the process of buying my first property aswell! One question though, i live in centra California and i just got a pre-approval for 80k. Does this mean i could now start making offers on homes that are in my interest and occupy them my self or is it possible to assign them to some one else even though they might be hud homes? ONCE AGAIN CONGRATS ON YOUR SUCCESS!!
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
Just make sure that title is clean, there are no liens, and you have a deal! Does the house need work? What do you plan o ndoing with it, holding? renting?
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
You surely achieved the first goal of acquiring that first deal. I am quite happy for you. Like someone said previously, numero uno in the bag. Looking forward to the details of your next deal(s). All the best and 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.
Here's a link http://reiclub.com/real-estate-clubs/New%20York.html for real estate groups in New York. If those don't pan out, you can look up REIC on meetup.com or join or form a group with fellow DG in New York area.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Those properties were bid is restricted for owner-occupants only, you will have occupy it as your primary residence after you've won the bid. You will acknowledge in their (HUD) addendum that you're NOT buying the property for an investor, you're going to be occuping it as your primary residence. What you do with it after the first year is your own business. Those listings were bids are open to investors, you'll have to be mindful of what the Hud addendum says, to determine whether you can resale to another investor or retail buyer in a 90 day period. You can buy investment properties just be ever aware of what the Lender will say in their addendum once you have an accepted contract on a property. Answer you're first question, yes you can go looking for properties that are in your interest since you have your pre-approval.
Make note: You'll want to ask your Lender, how long (length of time) the pre-approval letter is good for?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
No liens, no demo orders, no pending ligitations!
Yes the old gal does need work. Mainly cosmetic and replacing some amenities (e.g. HVAC) and minor repairs to the home's systems. My long term plans are to hold the property because of the planned development (e.g. Beltline) going into that area and new high school being build which should be completed by 2010 school year. I will eventually turn it into a rental down the road.
Jeremy
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.