OfflineWell I finally have my 1st deal locked up under contract. I had a potential buyer before I locked it up but he backed out as it wasn't close enough to the university. It's a 16 unit apartment building in Jacksonville, FL selling for $450K on the MLS. The owners bought it for $515K in 2004 and put $500K into it in 2007 trying to convert them into condos but they didn't sell enough to convert them so they were stuck with them. The partnership dissolved so the remaining owner just wanted out. The existing mortgage was for $395K; I offered $415K and he accepted. Now all I have to do is find a buyer in 30 days. My buyers list is only 6 strong and no one has shown strong interest to take it off my hands.
My wife hasn't exactly been in my corner regarding real estate so the pressure is really on. I have listed the property on Craigslist and Ebay's classified site plus a few other classified sites. I need a buyer and fast. I overcame my fear and took action and now have my 1st property locked up under contract. Now I have to find a buyer for it. Ahhh boy; I'm a little bit nervous but I've come too far to give up now.
And you will be fine, just when you think it's not going to work, then BAM It explodes! Keep the faith and keep your chin up believe in yourself and it will happen.. Think positive.. Congrats ! Kevin
I just pm'd you.
Lea
Thanks for the encouraging words Kevin. Lea I got your message and will be contacting you.
Eli
a buyer for you. If you are interested pm me. CONGRATS on getting your first property locked up.
Congrats for taking control of your vision? Remember to focus more on the things you want and less on the things you don't. I am new to the site but I have faith in all who are working the vision and living there dreams.
Everybody jumps in to help and encourage...too good for words.
Tomorrow is what you BELIEVE and DO today!
Amen. God is definitely at work. Here it is midnight and I just got a call from someone who saw an ad for an investor looking for properties on craigslist; they called me just to give me the investor's number. I had to get her name and email address to make sure that I compensate them for the info if I close a deal with the investor.
I am glad I ordered Dean's book and even more glad that he gave us this site to network and help one another. There are truly good people here in these forums and I am thankful for each and every one of you as well as these forums. God Bless You All.
I haven't locked up a buyer yet for the apartment building and now I have now I have another property. I called on a for rent sign and asked if he was interested in the apt building; he wasn't, and instead he offered to help me get my feet wet in rei. He has over 300 rental units in the city.
Now I have to get rid of a 4 br 1 bath house. Selling it for only $20K. The after repair value is $82K according to Zillow. He said it would be $73K. It needs less than $15K (I think around $12K) of work. So tonight I'll be emailing the buyers I have so far and hitting other sites. So busy today I haven't called everyone I was supposed to call.
Lea I'll call you tomorrow. Been extremely busy today, not to mention my car broke down on me. I don't have the money to get it fixed but I have faith 1 of these deals are gonna close.
I'm rocking in the same boat with you, at first I wanted to feel the fear, then I was told fear is saying God isn't big enough to handle my prayer. I have lost my fear and replaced it with expectation. I know that the worst case senerio is I loose the contract. Then I just start over, in all my contracts I specify 30 days based on ability to get financing. That's my backdoor, It's not like I have never failed before, but I know you and I both with meet victory.
Keep The Faith, it will happen.
WFaith
Don't worry you will find a buyer or better yet a buyer will find you.I have always been a firm believer that when you get busy and make things happen, well lets just say God (Loves it) and he will reward you for those efforts.What ever the outcome, it is a great learning curve that will take you to great rewards.
Stay strong and stay focused!!!
Brian
I am very new to the real estate world with DG, I just wanted to share a quick story with you. I did a basic bird dog/sellers agreement. I will explain, I don't have any cash to put down on anything and my credit stinks. I had to be creative and come up with a solution to a financial problem. I looked through newspaper adds in several of the towns around where i live. I found a single wide mobile home for sale in one of the classified adds, the asking price was $4,0000. I called up the seller and met with him and offered him $2,500 cash, he accepted,I was extremely nervous, especially knowing I did not have a buyers list. I went around to some of the trailer parks in the area and got the contact information off of the signs at the front office and started calling and telling them about the deal I had on a great home. To make a long story short I found a buyer in two phone calls and sold it withing two days. I did not make a killing but I did pocket $400.00 for about 2 hrs worth of work. I know this is a great way for someone to get there feet wet and make some quick money, this is while trying to find the other good deals, this is a great filler for cash flow.I just wanted to share my first small deal, but I did it and it makes my butterflies in my stomach just a little smaller now.
Keep on keeping on!!!!!!!
Brian
You took action and were rewarded. However big or small it all makes it worth while and GOD is seeing how hard we all work.
Way to go!!
Donna
I'm sure you don't make $ 200 per hour on your job ... keep up the good work.
Congrats
I Love the interaction of this site,we all need a little pick me up. This site and all of you DG family members are like COFFEE and ADRENALINE in my veins to keep all of us going!!! I don't really have much cash laying around so I have to wait for a little while until I can activate a 24 hour phone service, but in the mean time I am working with what I have "creativity".
I have 2 more deals in the working< I found a house FMV $67,000 and locked it up for $18,000 and I am working on a sandwich lease for this one. The other deal is with another single wide mobile home that I am doing a Bird dog or consignment contract on, I hope to pocket about $1,000 on this deal.
Thanks
Brian
so if we have a contact in your area, it makes things alot easier
I live about 1hour south of Atlanta,Ga. I am sorry it took me a while to get back to you, but I am trying to figure out all the things on this website. I got lost a couple of times during the process,but I think I have pretty well got it figured out know. I have a question to ask? If I found a house listed with a real estate agent through a company I am not familiar with,do I try to make a deal with them or envolve my agent. I would like to lock up this deal because there is about $45,000 in equity. I have no money and my credit stinks,for now, I would love to do a sandwich lease on this property, I am not really sure of what paperwork to use. If I don't do a sandwich lease then I would like to assign it, again not really sure of the paper work. This is to good of a deal to pass up, just because I don't have the money. I really feel that if I can do 2 or 3 deals, I will have some funds in my checking account and lots of knowledge gained in order to accomplish the next 10 deals in a month!! I am asking for some help to get me over the hump, I would like to find someone in the DG family that may want to do a deal or 2 that we could split the proceeds. Who knows we could even become partners like Lubertha and Bernadette (I Hope you guys are burning the trail to success). Heck i don't mind working doing real estate, this stuff gets my blood pumping and gets me highly motivated, it just really stinks having no money and no credit to operate with!! SORRY for the Rambling everyone , I am just a little frustrated this morning, I have no money, no credit and out of work as of 2 weeks ago and also just had a wreck yesterday (WOW)just venting !! Any way this site is great and it seems to be helping alot of good people get closer to there dreams, one of the best things I love is to look at the post and points and watch how they grow on everyone, this helps to keep me confident just knowing that you guys are all making something happen, no matter how big or small.
Congratulations, and keep us up to date on your next deal.
Hi everyone,
I've got a problem too. I live in the rural area of the Mississippi Delta,but we really have potential here. We are the main artery of the Southern Flyway for ducks and geese, lots of deer, hunters from all over love it. I live in the middle of three large lakes with dams and state parks. The problem is I can't seem to find investors who are interested in homes in this recreation rich area.
I have a 4 bd/3 ba home that would be great for hunters as a headquarters. Have another home only 1.5 miles from the boatramp at Enid Lake, with Sardis and Grenada Lakes only 45 min. away. I need to do assignment deals as I have no money to purchase myself and my credit is old, therefore weak.
Any ideas for marketing? If any investors are reading this these properties will cash flow nicely.
it blasts your ad out to like 40 different websites