Thanks to the EDGE My First deal is locked up!!

Thanks to the EDGE My First deal is locked up!!

After coming back from the EDGE and geting sooo much info and insight from all the great speakers during and after their presentation. I couldnt wait to get on the ground and hit the streets running with all the new things I learned. locked up a deal long distance in FL. Never physically saw the place but had friends down there who went and looked at the property for me and took pictures. They are fellow dgers that I was networking with and we have become good friends during this and before.They have been my eyes and middle people through the whole deal. Lea and Denny.
details: The home is a duplex two 2-bed apt. purchase price 24,500.00 repairs 1500. 26,000 total, the property sold for 160k in 06. Did this deal with no money except to legalize my LLC in FL for 160.00. Used PVT money for dp and have a partner with excellent credit and a lot of equity in his home. He took a home equity line of credit against his home so we can purchase all cash, We close on the 25th of July. We will refi and take a little more cash out to pay back that loan after the date we are allowed so there are no penaltys, and add the extra money to that amount to increase our buying funds while the property still cash flows. Then we will re-invest that money again in another home. My partner is a guy who retired from work.I explained to him what i was doing one day and about how my last 2 partners got scared and backed out before our offers was accepted. He knew me and asked if he could be my partner and that he trusted me 100% even though he didnt know a thing about REI.

you can have anything you want in life, as long as your willing to work for it. Those are the best words my granfather ever told me when I was 12 yrs old. I never forgot them and live by them to this day.

Never EVER give up!
Richie.

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Awesome Richie!

I am happy for you Richie! An a long distance deal no less! WOW

It's a little scary doing a deal so far away! But a deal is a deal, not matter where it is! I have to work on that private $. I have two presentations, just need to get out there and market it.

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... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...


Congrats Richie

That is known as thinking out of the state. With your partners out of state, all you have to do is treat them right and they will be a good fly in you hat. Well done, now on to the next. God Bless.

Sandra

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"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.


Richie,

CONGRATULATIONS!! Smiling Smiling YIPPEE!! You are so deserving of this long distance transaction, Mr. Landlord.

It has been a pleasure for Denny & I to help you on this deal and we look forward to many more. We had fun working with you and learning about the property. It's been a wonderful learning experience for us.

Your Grandfather was a very wise man and was certainly a positive influence in your life then, now and in the future. Thank God for Grandfather's!

I wish you continued and great success!

Your DG Sister,

Lea
SPR Property Solutions, LLC


Richie

Congratulations! how awesome for you. you couldn't have picked better people to work with than Lea and Denny. i love Sandra's comment "thinking out of state". you deserve it. what's next?

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Linda, Army EOD Mom
you can follow my journal at http://www.deangraziosi.com/real-estate-forums/investing-journals/45351/...
IT'S ALL GOOD AND EVERYTHING IS WORKING OUT PERFECTLY FOR ME!
Fear equals:
False
Evidence
Appearing
Real


AWESOME RICHIE !!

CONGRATULATIONS BUD !!!! lets celebrate!! way to go man ..all your hard work has come to fruit!! i am super happy for you you deserve it.keep your hand on the throttle as matt says and on to the next.sounds like a good you have gotten.goes to show also how very important to have such great dg friends/partners as the dg family of lea and denny !!! great job guys!!
jay

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Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
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Great job Richie.

I love that you didn't give up after your other partners got scared and backed out. We have to believe in ourselves and that is part of what understanding our reasons for doing this is about. On to the next deal.

Regina

Keep pushing forward.


Way to Go GET 'EM!!

Great job. All your hard work and effort paid off. It is great to see another DG investor close another deal. Keep knocking them down. Smiling

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To get something you've NEVER HAD
DO something you've NEVER DONE.


Ritchie!!!

Whooooooo booooooo! Go get em tiger!! Great job and keep up thatnpositive attitude. It will get you far

God Bless,
Gorgeous Frazier


Great Job!

You stuck with it and found a partner who believed in you. Now he will reap the rewards right alongside you when you collect your profit from this deal. Keep at it and thank goodness for the wonderful DGers you have met and can now work with.

Kristin


awesome job...I am excited

awesome job...I am excited for you

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~TAKE ACTION AND THINGS WILL HAPPEN~
***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
***"I CAN'T IS NOT A EXCUSE...IT JUST MEANS YOU WON'T"***
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~


Way to go Richie!

I am so happy to hear you made this deal happen Richie. This is greattt. I knew you had it in you. And you made a great deal, there is a ton of equity there for you guys. You rock! Keep us updated, looking forward to hearing when you close. = )

Jeremy

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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


WOW, Thanks for all the

WOW, Thanks for all the great posts everyone!! I truly appreciate all the well wishes.This deal actually originated just from a conversation Lea and I were having about what we had going on. We were currently ivolved in a SS together that I asked her and her partner to work with me on and she just told me about a guy she met at a meeting and this duplex he was selling.The rest is history.
I cant wait to close it on july 25th or maybe sooner, I am just waiting to get my Foreign LLC LIC back from FL since i decided to put the house in my co name.
Really excited about this and cant wait to move on to another.
Thanks Dean, and all the great people I met at the EDGE. I was lucky enough to talk to some of the most successful students there and ask questions as well as listen to what they had to say about making it happen and just stepping off the edge of fear and just doing it.
Oh, I almost forgot, the house is going to cash flow 700 a month, with property management company in place and handling everything.
Never EVER give up.

Richie.


YAY Richie!!!!

First deal and its front page news lol!!! I am SO happy for you - I knew you had it in you from the very start! My first investment property was long distance too - and its still cash flowing me very nicely. So it just goes to show successful deals can be made anywhere, anytime. When you learn how to run the numbers, and have someone to be your eyes like Lea and Denny - well, you've shown what can happen Smiling I am especially proud of you for breaking through the first deal fears that arose....I've seen them paralyze people from making deals - but now that you've done it - watch out!!!! And wait till you get your first rent check in the mail! Fun, fun, fun! Again, super happy for you, and on closing day we are going to each pop a cold one and make a long distance toast over the phone!!


Laura, your on! I'll ship

Yea front page news lol. I was shocked and very excited to see that.
Laura, your on! I'll ship you a drink of your choice Smiling
Thank you for all you have done for me. The calls were really helpful when I was stuck on a few things.
I found a broker that will do a small loan and that should be done in 2 weeks.You were right, everything is just falling into place. I had a problem where i could not find my EIN#. So I went to the bank where i opened my checking acct and told them I think they didnt give it back to me when I opended my acct. SO the Lady pulled it up and wrote it on a piece of paper for me. Tomorrow I will overnight the paperwork and should hear from them in 5 business days.
I will call ya tomorrow.
Thanks again for everything.
Richie.


Richie

LOL at Laura and her comment about front page news, but YES INDEED my friend! Congratulation on your first deal and now your on your way of becoming another one of Dean success student. I know you have worked so hard to get your first deal under your belt and you finally did it. I'm so proud of you Richie and now just keep that fire buring and keep feeding it with fuel!

Lloyd


Great Job

Iam so proud of you and to know you are a DG family member! Just shows that all the nay sayers out there, there are ways to get things done! Persistence is the key to success! Keep um coming! Congratulations! Kevin


Ritchie

Congrats!!!! That is such awesome news. What does your wife think about it?
You are rolling now. Can't wait to hear more.

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Richie..

Way to go man!!I'm working on my "first" & it's a DUPLEX also & I'm excited for the both of us! :-)Screw the NA SAYERS!!!ha,ha


Hey Cathy, thanks. My wife

Hey Cathy, thanks. My wife is still sceptical lol, she is scared I am going to get sued for something. She will see soon enough.

good luck on your bank deal.
Richie


Hey Dan, good luck with the

Hey Dan, good luck with the duplex, I hope to see you closing on it soon.
thanks for the good wishes.
Richie


See you next year

Wow that was great. Can't wait to meet you at the next Edge event. It sounds great.

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StaceySep


Thank you Stacy, looking

Thank you Stacy, looking forward to meeting you at the EDGE next yr.
Give it 100% honest effort and you will succeed.
best of luck
Richie


I would like to thank all

I would like to thank all the people that networked with me on this deal.
Laura Johnson who is not only a great friend but my PML on this deal whom without I would not have been able to make this happen so quickly.
Lea and Denny who were vital to the whole operation, they not only told me about the deal but have done so much for me by taking their time and looking at the house for me and taking pictures and sending me info as well as acting as a middle between me and the seller.
Thank you all for your part in making this happen.
Looking forward to doing many more together.
I think I am going to do more deals in FL just so Denny and Lea have to keep in touch Eye-wink

Words dont tell how grateful I really am inside.
Thank you my friends.


Congratulations

For sticking with it and making it happen! It's hard to wait, but your story is inspiring and encouraging to the rest of us. Keep it going.


Thank you for the nice

Thank you for the nice comments Ronnie. Yea it was a journey to say the least, I had a lot of ups and downs but NEVER ever gave up. I knew what i wanted and stuck the course no matter what obsticals I came across, and there were many.
Dean and Matts(cbrpower) words were stuck in my head all along.
Dean said if you dont take action, in a year from now where will you be > In the same situation you were before.
Matt said, Some people quit when they dont realize how close they were to success.

Thanks again and good luck on your REI journey.

Richie


richie

exactly some dont know how close to success they are or were and i dont say this to put anyone down but u know and i do how many times we almost gave up, but went that extra step to take action in the face of fear or worry and only to beat the obstacle or break through it!! if we dont face fear of failure head on and learn how\ to become financialy secure now then WHEN as dean says. ITS not easy to press on but when has anything EASY pushed us to the brink of accomplishment ?????????????
GREAT JOB RICHIE you broke through the ice and now have access to the fish !!!!!!!!!
i am celebrating with you !!!
jay

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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/...


Congratulation you worked

Congratulation you worked hard for it I look forward to more deals from you.

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Stop thinking just DO IT!


Richie

Big congrats to you brother on your first deal. I am glad that you never gave up and stayed on course. With all this $$ you are going to make, you can buy breakfast at Randy's next year!!! Way to go Richie....Jan


RICHIE

WAY TO GO great job on your fla deal, cant wait for the next one, send me a pm i will hook you up with some other great deals. and once again great job and much success to you.


Congratulations Richie

I just got the chance to read your blog (Front Page!)and I am really happy for you. Sometimes is seems forever to get that first deal but when it comes it is really great. I am glad I had a chance to meet you at the EDGE. I hope I can get something closed real soon too. Great job and really gutsy doing it long distance.

Tim

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Tim
Keep on Keeping On !!! Expect it, God has already given it to you. You just need to get out there and grab it!
If you want to follow my journal:
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Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10