OfflineHey everyone,
Well, I realized I better start letting the family know about our progress! After a long and seemingly slow spring and summer, we have now submitted four offers. The first was on a bank REO which was beat out by a cash offer. The agent called me back several days later, though, telling me the offer had fallen through and the bank was again accepting offers. We submitted a second offer but got word that the bank rejected all the offers that had been submitted. We'll be sitting down to decide what we should do next.
We offered on another house that was beat out by an investor's cash offer, but we spoke with the owner and found out that his mother will be selling her house in the future and they will be moving to South Carolina. We gave him our business card and he said he'd keep us in mind.
Finally, we just submitted a $60K offer on a house listed for $104K. It is in a short sale situation and the owner tried to sell the house once before in 2006. Currently, the house has been on the market since April. Comps look like they are at least $100K in this neighborhood.
Fingers crossed!
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
Thansk for sharing the information of your potential deals. Congratulatiosn for taking action. Chances are that some of these potential deals will materialze for you. We wish you luck and please keep the Dg community updated on your progress and how these turn out. 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
I'm in the same boat as we have had (what seemed to have been) a slow start. We submitted many many offers, which all of them had been rejected but one!! So, we will be closing on that property hopefully the second week of November. This will be an assignment, and my very first closing...keeping fingers crossed for you. Hope all goes well.
Destrie
Destrie
Failure Is Not An Option
having trouble getting financed.. keep getting the pre approval letter is needed before an offer is accepted.Am talking with a few hard dollar lenders..
what do I do next.
Destrie,
It's encouraging to hear that we're not the only ones starting slow (although it's been 6 months for us now). I remind myself that we are still making forward progress, and though we will not be one of Dean's stories of someone who cashed the first check in 30 days, I'm still certain that this is the way to go. We may not get our 5 deals in 12 months done (but I'm not saying 'no' yet), but this has still given me a direction to run!
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
Terry,
Talk to mortgage brokers, too. They can help get you a pre-approval letter also. As far as what to do next, keep talking to people and keep looking for good deals! Stay on course and it will pay off.
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53