AFTER 2 YEARS IT'S FINALLY OFFICIAL MY FIRST DEAL!!!

Congratulations, Ron! I am so excited for you! Keep up the good work!

Here in Southern CA it is a different animal, but DGers like you show us it CAN be done!

Karen

CONGRATULATIONS on your first "awesome" deal! I'm happy for you and wish you much continued success!

Lea

It's good to know that other investors keep going UNTIL it happens and not give up. Ca is a tough market. Jason and I have been at it for over 18 months.

Congrats! Wishing you many more success stories! How did you go about getting this deal & did you use transactional funding by chance?

I am on week three and working hard with the success academy... Can't wait!!

Great deal! I have a question, you said you were going to get your license and make more money. Is it legal in California to list your own investment property, sell it, make the net profit and get the commissions? You can't do that in Colorado, if you do an investment deal here you must disclose you have a license but are not acting as a realtor. In many ways having a license can be a negative. The benefit is the access to the MLS. I am not a realtor so I have only heard this stuff from investor/realtors here in Colorado.

Lenee, I can tell you Rich2000 did not use transactional funds on a deal he rehabbed and sold to the end buyer. This was not a double closing flip. Transactional funds are not used for financing a deal. They cover the a to b purchase of a double close, usually 24 hours or less.

Good job Rich, on to the next!!
Michael Mangham
MD Home Acquisitions LLC

Yes, you can collect a commission on any investments, but it must be disclosed on the contract. Example, I purchase a house from a listing agent. I can collect my 3% commission for representing myself. I think Rich wants to be an agent so he only has to pay out 3% commission instead of 6%. He would be able to list the property on the MLS and get great exposure and only have to pay the buyer's agent the 3% commission.

Thanks Kimmy, I'll bet its the same in Colorado too, going to do some checking with my attorney!

Michael Mangham
MD Home Acquisitions LLC

It is never late for that first deal. As long as the deal is sealed, that is what is important. Congrats again.

Sandra

Congrats, that is a hefty profit for your first deal. I bet that paycheck will drive the motivation for quite some time.

So happy to here that you closed an REO deal.

I am currently submitting offers on REO Properties but some get rejected and others simply dont reply to my offers. Im trying to see what Im doing wrong here. I can say this. Just like you Rich2000, I will not give up until I close that deal. And I ask that all of you that have not closed a deal yet, not to give up.

Keep closing those REO deals buddy. I wish you the best.

John

for the congrats and warm wishes, I hope everyone in this family the same wishes of success.

-msthomas317: michael was right about not using transactional funding, I have not been able to go this route in acquiring a deal. I actually sold my car to get the down payment(which was kinda of embarrassing at first...but not no more;) I'm now happy that I did.) My credit sucks so I had to find a credit partner (Mom) who not only introduced me to Dean Graziosi via infomercial but also my REI partner. BTW now my other family members wants in on things not like before they were my good ole "naysayers."

Matt Larson- if your story about selling your truck to get you started was not around , I would have never even considered it, so kudos!

Michael- KimmyJ answered your question and my purpose. I swear Kimmy you got all the answers which is why I want to go to your meetings to pick your brain a little. Will be joining you and Jason there soon enough.

Learned new things from the 2010 Edge VIP DVD that I will be trying out. The information in that 1 DVD is so priceless...I was saying, "So that's how they do it." to everything.

Daniel R- Thanks for the calls here and there about your deals buddy. You don't know how much it pushed me to go forward. Like I told you..it's full steam ahead from now on. Thanks and let's partner up on one soon.

Dean "The Real Deal" Graziosi- Happy Birthday again...Thanks for doing what you do!!!BTW no more fakin it cuz i'm makin it...or atleast less fakin it LOL!!! Your videos are awesome!

Congrats on your first of many deals. Way to stay in there and push ahead. My best to you...Jan

...Congratulations on your first deal. Keep up the good work, the first one can sometimes be the hardest one. Believe and Achieve! - Joe

Congrats on that Deal. I am glad you didn't give, you are an inspiration to others now. Have a GREAT THANKSGIVING..........

Your ability to discount your side of the commission for representing yourself may depend on your broker's rules. They each have their own guidelines on how they handle commission splits on property that is a personal residence or property that is an investment. Mine does.

Congrats Ron! I can't wait for my first big check.

Great to hear that you made your first deal .

Nice profit too .

I've been a member of DG.com for a little over 2 years now myself and am just about to close my first deal as well !!

How sweet it is !!

Randy S.
Elkton , MD

Wow!!! Great job, $39+ That's about a years worth of working a regular job all in one shot! Very happy for you, now that you're sure it works do it again!

Go with Keller Williams. They are the most investor friendly real estate company. I have to have 3 transactions under my belt and then I don't get charged at all. If I don't have 3 transactions then I pay 20% of what ever my commission would have been. Example: Sold house for 100k and would have received 3k commission based on 3%. 20% of 3k is $600.00. I can do 3 of these types of transactions and never have to pay for the rest of the year. Not to mention KW has incredible training, I don't have to pay desk fees. I pay $125 every 3 mos for E&O insurance or $400 for the year which ever you prefer. It's a great company.