My first deal!!

That some serious movement you have there. I wish you much sccess. Dont forget to come back to this same post and post your numbers here. Let us know how you did and congratulations

That some serious movement you have there. I wish you much sccess. Dont forget to come back to this same post and post your numbers here. Let us know how you did and congratulations

.

Congratulations on your first deal. It shows that persistence and hard work can pay off. Good luck with this deal and on all your future deals! Believe and Achieve! - Joe

how exciting is that??? congrats to you! You've encouraged me to pick it up and just jump on the phone and take action. I have a list of fsbo's but haven't picked up to call 'em yet.

Please keep us posted.

Please let us know how this ends up.

Lea
SPR Property Solutions, LLC

Good job on your first deal hope everithing goes smooth

Congratulations Cathy! You made this happen!!

Good for you!!

Myriam

congrats! That is awesome to hear! Keep up the good work!

Sounds like a great deal, but did you check to see if the property is in probate? Depending on what state the property is in, the court will be involved in the sale and transfer of title. This can delay your plans of selling or renting. You can check with the brother or the local county court records for details on any liens, judgements, etc. that may be attached to the property. Make sure you are purchasing a property with a "clean title".

Good Luck!

Great advice Suzy, thanks.

Cathy

That's the way to go. You took action, and you got results. Just make sure and follow through and get that PA in hand. Congrats and God Bless.

Sandra

You have inspired me !!!!!

Teresa

Great job for taking action. Making that call took guts and seems like it will pay off big time. Please keep us updated when all the dust settles. Again, Congrats!!!

wow that sounds like you found a hidden gem!! Good job on having a few backup plans!! Best of luck my friend!

As newcomer, I'm looking for all these good outcomes. I'm coming along, and this helps. Good job.

Do you have investor's lined up to flip to? If so, please share how you built your investor list. If not, how do you plan to find the investor?

Did you do this deal without investing your own $$$? Do you have good credit and is this how you got the financing? Pls. elaborate with the details.

Thanks so much and CONGRATULATIONS!!!

I am having the inspection done on Sat. the inspector came highly recommended by my REA, who says the inspector is an investor himself. I am looking forward to learning from him. In the meantime I have talked to several other investors, all of them found selling their homes on craigslist, and offered them my property. Hoping to hear from one of them. After the inspection I can get the bids from contractors to help with the fixing up. I have the keys to the house. So it's just a matter of me driving over there.

Cathy

Thank you, I am very excited. I do have a HELOC that I am working with, so technically it's not my money. My credit is excellent but that won't come into play until I refinance. As I said above, I have been checking craigslist for people who are investors selling homes, (there are many of them outthere), and contacting them about my house. I originally was going to hold and rent, so if no one wants to buy it, I'll go with the original plan.

Cathy

This is in response to Cathy's journal. I hope you will post here the rest of your transaction. For me, that's just the beginning. You have a lot of scenario yet to come before you can actually put money into your pocket. I am interested to know what comes after your first attempt. Thanks...dom

Good your brought this up Suzy. This is a very important issue to take up especially on that kind of situation...if not you'll regret it. Imagine tying up your finances if the court is invlove in disposing the property....dom

Congratulations! You did it! Perseverance, a good eye, and following through paid off.
I hope the deal will go very smoothly for you, but even if you have to wait some, good things ARE worth the wait, and there are always ways to hurry them along.
Good luck on the inspection. You will learn a lot from him. I was amazed at what I learned the first time I followed an inspector through a house.

Looking forward to hearing about your deal in person next month!

Rina

Thanks Rina, me too! My husband talks to alot of people in the course of the day and he got a business card for a REI group. I just emailed him and am trying to set up meeting to compare strategies and build a relationship. I know that this particular couple follow Robert Kyosaki school of thought, and although I've read Rich Dad/Poor Dad, I'm interested in hearing about their theories. Maybe they can come to the meeting too.

Cathy

If you can dream it you can do it!!! And you are. Good Work!!

read your book , or in the middle of it I found my first deal , got a contract , found a buyer , done assignment to buyer, went to closing walked away with 22,000.00 thats 22 thousand dollars. Put my taxes in the bank , gave my church 10% . The seller saved her credit and walked away with 2500.00 the buyer got a real deal and everyone is happy.I think Dean he is for real , but I give GOD the most credit , but you can make money in real estate if you get off the sofa. Thanks again Dean. Sam

You need to repost your post under the My Deals forum, for everyone to see. Right now it's stuck in my post. Great job on your deal, I think it's important for everyone to see your deal try and repost.

Cathy

I was at the house with the inspector today, it took him ten minutes of walking around and looking in the basement to tell me that the house foundation is crumbling on one side. It is one good rain from being major problems. Option are jacking up the house and fixing or tearing down the house and fixing. I'm opting for opting out of the deal. I'm disappointed but know there are more deals to be had. On this deal I learned about dealing with an out of state owner, talking with the powers that be with the city, to get the ball rolling, and I met a great inspector, who is also an investor and someone who's on my team. Thanks everyone for all your support and encouragement. Hope to have a new deal posted soon

Cathy

You did great and you should be proud of yourself! You are doing all the right things. You took action, ran the numbers, made an offer and was close to a deal. You then made sure the deal made sense from an inspection standpoint and found out the issues with the property. It is great you found out the issues before your purchased the home.

Success in real estate investing is not only closing deals but what you learn along the way! You learned on this deal and that information and knowledge is priceless for your future real estate deals. Keep the faith and keep looking for that next deal! Believe and Achieve! - Joe

When ever you made your offer did you make a verbal one or an official one?

sorry the deal didnt happen. but it was a good thing you found out about the issues b4 buying. keep on moving on. who's next!
Serena