Finally Got My First Property Under Contract After 6 Months...Yeah Baby

way to go man!!!!!

It is such a great feeling when you finally hear the words " Your offer has been accepted!!"

How are you funding this deal? HML, private investor, or your own mortgage?

Good for you!!

4thdayprojects, i'll be assigning the property to a cash investor/buyer and those are the exact words i'll like to hear pretty soon..."Your offer has been accepted". Thanks.

D'Angelo,

Where'd you find this prop? Congratulations!

Vincent

Thanks Vincent. I found this prop on CL.

D'Angelo,

That's great! I've heard some people say that you get swamped by other investors who are fighting for those very same deals on CL.

Vincent

Good job, stay at it and focused.

That's so true...that's why I visit CL at least 3 times per day so as soon as a new listing is posted that i'm interested in, I start e-mailing or calling right away...time is money.

You just proved "the early bird gets the worm" Semper Fi! D-LO!

Thanks jmblydenburgh and I hope you do the same.

Best of Luck with your deal.

Numbers look good and pic looks great !!

Keep going !!

Randy S.
Elkton , MD

Thanks D-LO, DanandAnna, and xbolikl4577...I really do hope that this deal goes to closing.

Ah, makes sense! So this one was near the very top that you jumped on quick?

Vincent

D'Angelo,

I just thought of this: was the property fairly close to you? Is it one that you went and looked at in person or is it a "virtual" wholesale like Carol does?

Vincent

Can't wait to hear deal accepted. Way to go, God Bless.

Sandra

congrats. hope it all works out well for you. nice-looking property. i hear ATL is a great place to invest.

hey don i see a realtors sign on the front porch. so you were able to work this ASSIGNMENT with a realtor involved.

good looking house. i wish you the best.

WALT

I had been negotiating with the owner for 2 weeks on the asking price until we finally came to an agreement on 50K...he came down 10K.

I live in Canada and had spoken to at-least 6 RE Attorneys and 4 RE agents who were all telling me that wholesaling is illegal here and that the laws in the states are different. That just made me wanted to succeed even more because I know it can be done. After about 2 months of getting all these negative feedbacks, I started to think if I should move to the states lol that's how desperate I was, but my wife wasn't having it and then a light bulb went off in my head.

I started thinking about it real hard, how could I make this happen. The more I thought about it, the clearer it became. I said I should can do this by phone, e-mail, fax, text and pictures. I started to post ads on CL for RE attorneys and agents in Atlanta and that's how it all started for me - wholesaling internationally.

My agent is the 1 who went to check out the property for me and took some pics. To be honest with you, I didn't even know what you were talking about when you said "virtual wholesale" lol. You made me go and read Carol's journal, which is amazing, and YES - that's exactly what it is that i'm doing...virtual wholesaling. God Bless and good luck.

D'Angelo

Thanks SanBern. I can't way to hear those magic words too. I'm going to keep praying because I know God answers prayers. Take care.

Thanks Linda...I truly hope so too. That's what I heard too that's why I started to focus on properties over there. I need to build up my buyers list though, now that I have this property under contract. At the moment, I have only 10 investors on my list and i'm plugging away daily in search for more. I want to have at-least 30 buyers on my ATL list. God Bless.

Hey Walt, there is no realtor involved. The owner had it listed with a realtor before but didn't have no luck getting it sold...so he fired him, which made it much easier for to get it under contract.

Thanks for the compliment and God Bless.

Well, so far I've gained 2 interest about the deal who wants more info about the repairs and 1 of them even said that they can pay cash but wants me to lower the asking price. I've just sent the owner an e-mail and left him a message on his phone to see what he has to say about that, which I think I already know the answer because he has already came down 10K but I still have to run by him regardless. Now I just have to wait for his reply to see what he has to say.

I have had the same stuff said to me by many realtors and attorneys. They all say " you are brokering the deal and that is illegal unless you are an agent". If you have a cash buyer you can just do a double close to get around it. I also spoke with a very established investor in town and this is what he said, " when you have a property under contract, it gives you the option position just like in stocks. you have the option to buy it considering everything checks out ok, or you have the right to sell your option to another buyer, just like on wall street". There are people doing this everywhere, find the people that will show you how, then prove it can be done to the people that say you can't. Sorry, I really don't have any patience for naysayers!

Hey Don,

Wouldn't you be able to go to the house and pull down the realtor's sign since are working directly with the seller?

When I had a house under contract the realtor that I was working through allowed me to take down her sign and put my FSBO sign up until we got it sold.

Tammy

Here in Canada they want you to actually buy the property first before I can turn around and flip it. I'm not in the position right now to buy any property because I have no money and poor credit and then again, there are way, way more better wholesale deals in the U.S. than here, trust me, that's why I started looking in the U.S. because I know for a fact that wholesaling is permitted over there. Maybe in the future when i'm in a better position I will try the lease option here. Thanks for your input and happy investing.

Hi Tammy...the sign is already down. The pic of the house that you saw was a pic when he had it listed with a realtor couple months ago.

Hey DG fam,

I haven't gotten no strong leads as yet on this deal but i'm still plugging away by submitting to free classified ads online and on CL. I've sent it out to my buyers list, that's about 10 investors, and I have gotten back 4 replies all wanted a reduction on the asking price but the owner is not budging. I'm still trying to build my buyers list but I think i've to try another strategy than craigslist...any suggestions? ~ remember I live in Canada. I'm still staying the course because giving up is not an option. God Bless.

D'Angelo

This deal doesn't look like it's going to closing. I have 2 more weeks to find a buyer before the contract goes null. I'm not giving up though...i'm still plugging away daily to find a buyer. Lets see what happens.