OfflineI was actually surprised my partner didn't make a post about this! Haha, it's been 2 days since we FINALLY closed on our first deal!
Just a note that I don't remember the numbers EXACTLY, but she does so she will probably post them below 
I will use rough estimates for ARV and Repair costs.
Anyways, my partner investorinmissouri found the property down in Kansas City, and the owner was asking about 13k if I remember correctly. It needed about 10k repairs and was worth about 30k ARV.
We ended up offering 4k, that got accepted pretty fast so we ended up buying it with cash in full. We put it on the market for 12k and found a buyer in 10 days. The only problem was that the buyer we found wanted to borrow against her 401k to purchase the property.
We were okay with it, but our buyer failed to get the money for a deposit on time so we listed it with a Realtor for 15k. After a week or two we got a low offer on the property but we ended up having a counter-offer war on it a few times around and finally settled on 10.5k.
The only thing that could have made this deal better was if we avoided using a Realtor to sell it. They ended up taking 3k of our profits. They had some deal that their fee was 1500 per side or 3%, whichever was larger. And of course 3% of 10.5k would have been a much better deal for us haha.
Long story short we profited about 2300 after its all said and done! Plus the initial investment 
We bought it Oct 22 and sold it Nov 22. GOOD DEAL! 
We also have a wholesale deal in the works currently, we got half of our fee so far but they wont give us the other half until closing!
I also just wanted to say thanks to my partners couldn't have posted this without you
Dominic
Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...
Congratulations on that deal!
I'm supposed to make $1K on my very first deal many months ago, after some mistakes i've made in making an offer and the estimate of repairs. After dealing with a Seasoned buyer/REI who wants to buy my property, I ended up making $600. It was a great lesson in my part. Blessings to all. LA
Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-
Congratulations on your first deal. Wishing you much success.
Lea
Good for you. We'll be making some success posts soon too!!!
Have a Berry Good day with success in abundance to us all!
Good job you two. Sounds like you are moving towards your goals!
Much success!
Donna
Yes we are super excited and Have so much more in the mix we are on our way for sure:) Dom dont forget to take a picture of the check
lol
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com
I cant wait till my first
Thanks you so much you guys:) we appreciate all the support it has been ruff
LOL
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com
How exciting ...I am shocked how inexpensive the property was...keep up the good work.
Happy Investing,
Barbara
You guys have done a good job. We hope to see a lot more deal from you both.
Steve and Veronica.
Steve and Veronica
Steve and Veronica's Journal.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58073/...
http://www.deangraziosi.com/real-estate-forums/totally-fulfilled/72344/d...
I would love deal maker too
hint hint 
wink wink LOL LOL
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com
i'm right with you. I don't know where to start. I guess I'm a little nervous.
Congratulations on your first deal!
Check out my journal:
http://www.deangraziosi.com/real-estate-forums/investing-journals/64065/...
My free website from Dean:
http://paradiseacquisitions.usapropertywholesale.com/
The Sky's the Limit!
The first deal is always the hardest.....and the one you will remember the longest.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
That is so exciting! And very well deserved!
Looking forward to the next one, as are you!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Keep finding the deals and putting them together.
"Don't tell me I can't, Tell me how I can."
Thanks for sharing, your story is inspiring. Sounds like you learned a good lesson about Realtor fees and reading contracts closely. Way to go on getting paid tho. I could definitely use a few $2300 checks. Congrats on your first, my first will be right on the heels of yours.
Best,
Dave
Don't Count the Days, Make the Days Count!!
Congrats to you both on your first deal. Very proud of you. Thanks for sharing the info. God Bless.
Sandra
"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.
Congrats! Good work.
WOOO HOOOO Alrighty deal number 2 done:) we finally got our other half of our assignment fee today. I have to tell you I will never do a deal like this one again LOL. I can see how wonderful assignments are but this one was over the top. But then again It was our first one so I guess I made it complicated.
The sellers were not the owners of the property, they were still in probate. We had to finish up the probate and then sell the house after that was done. The sellers were a handfull in them selves. One was moving to florida before the closing the other was in a totally different state. Anyways with that said its is all finally taken care of just need to record the deed
WOOT WOOT
Done deal even with all the complications we still profited $1,333:) yeah baby!
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com
Great on the deal and just in time for the holidays! I wish you guys all the best and also i am too trying to do my 1st deal like alot of you guys out here on the forums. We just got to keep on doing and never quitting.
Does anyone know if assignment contracts are legal in Massachusetts or can you direct me to where I can find this information.
Lloyd
What a sweet pick up. Its like kinda of like what Dave said you got paid $2300 to learn how to make even more money the next time. Boy I love hearing stories of towns outside of my physical reach in which you can buy a home for $4000 and potentially flip it for $30K.
Keep on posting your success stories because it sure as heck motivates the Sh** out of me!
Regards,
Shane
"People Build People"
that's how you do it. make the deal work!
To get something you've NEVER HAD
DO something you've NEVER DONE.
Denise,
Are you talking about Dean's success academy?
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I'm sorry you are experiencing problems with the programs. Dean's team offers a variety of different things. May I ask which ones you are using? And which books did you read?
He makes it VERY clear that his books and programs don't print money. You have to apply everything they teach within the books and programs. Your ACTIONS are what get you going. I also can't see them having a problem giving you a full refund as long as you didn't wait too long.
They also don't just send you a list of people, they give you the information on how to BUILD lists of people and deals. They tell my partner all the time that shes one of the few students that actually get out there and do work. So maybe you actually need to take it slower, reread the books, the lessons, and take one baby step at a time.
Check out this guide I wrote for people having problems getting started: http://www.deangraziosi.com/real-estate-forums/everything-else/63961/dom...
Can you please go into detail on what your action steps were? Maybe we can all help you out on these forums, it's free with a friendly community.
Best of wishes,
Dominic
Dominic
Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...
Good Job Dominic to you and your partner !!
Just don't stop there.
Randy S.
Elkton , MD
Thanks Dean for staying in touch and truly caring. Got a lot of life going on right now, but we are here and going to make this work. Thanks for your constant support! See you soon!
Have a Berry Good day with success in abundance to us all!
Just a note that I don't remember the numbers EXACTLY, but she does so she will probably post them below
I will use rough estimates for ARV and Repair costs.
Anyways, my partner investorinmissouri found the property down in Kansas City, and the owner was asking about 13k if I remember correctly. It needed about 10k repairs and was worth about 30k ARV.
We ended up offering 4k, that got accepted pretty fast so we ended up buying it with cash in full. We put it on the market for 12k and found a buyer in 10 days. The only problem was that the buyer we found wanted to borrow against her 401k to purchase the property.
We were okay with it, but our buyer failed to get the money for a deposit on time so we listed it with a Realtor for 15k. After a week or two we got a low offer on the property but we ended up having a counter-offer war on it a few times around and finally settled on 10.5k.
The only thing that could have made this deal better was if we avoided using a Realtor to sell it. They ended up taking 3k of our profits. They had some deal that their fee was 1500 per side or 3%, whichever was larger. And of course 3% of 10.5k would have been a much better deal for us haha.
Long story short we profited about 2300 after its all said and done! Plus the initial investment
We bought it Oct 22 and sold it Nov 22. GOOD DEAL! 
We also have a wholesale deal in the works currently, we got half of our fee so far but they wont give us the other half until closing!
I also just wanted to say thanks to my partners
couldn't have posted this without you
Merry Christmas to you, Dean, and your employees. I am new to this and I doing my best to plant seeds and there is a lot of information I am going over.
Thanks,
The Gambler
Wow greg Murphy posted on our thingy:) but I cant read what he posted
Anyways I promised an update for our DG family and here it is.
We currently had 5 properties under contract. As of yesterday we had to cancel out on one because of financing. The numbers just didn't work with the type of loan we could get on it.
The other 4, well they are in the works. It looks like we will be letting go another one tomorrow.
We have 2 possibilities just waiting for confirmation and deposits, and the last and final well that one is up in the air.
I am hopeing by the end of the week we will know for sure on the 2.
I have to say that I am a people person and this week has been super trying on me. I know this is a business but there are some things that I just find my self being a human on. I have had a *buyer* go behind my back and try to renegotiate with my seller and then try to at the same time wholesale my property to another person. I have had people all over call me crazy, yell, scream, curse, and just plan get mad at me.
I have had my Realtor lose it on me, and I have had a lot of people I have been in contact with me just plain not be honest about who they are and what they do.
One of these deals I truely deeply just want to be able to help the seller out on. When you get to know these sellers you can find that your building something more out of it than just buying and selling a home. I know your not supposed to but it happens.
I really hope that things will work out for him.
Then there are the times when you make it all work out. You push forward and you find a solution. This is the time you feel " wow it was all worth it" lol. This is truly a business that you have to be able to take rejection and failure because it is going to happen no matter what.
The best thing is though that after all of the hoots and hollers and crying and screaming, in the end if you keep pushing threw your going to make it. I have been in contact with some amazing people and made some great relationships out of all of this. So I have to say Thank you for this trying week. This makes me all the more stronger and better at what I do.
On a silly note, because of all the negotiating and so forth I am finding my self pretty good at negotiating on a car
LOL
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
www.virtue-investments.com