OfflineJust wanted to contribute to the DG family. I have been trying to wholesale for about 5-6 months. I have just closed 1st deal and this is how it went.
A lady called off a bandit sign. She had a 3/2 2 story home she had lived in for 40 yrs. The lady was a bit older and was having trouble getting up and down stairs. The home was in desperate need of interior rehab as the outside was recently updated 6-7 yrs ago. Like I said the interior was a disaster as she had 6 dogs. Anyways I went to my local REI club and started networking. Got a website and started advertising on that as well with Craigslist. Got about 6 offers and sold it for 31k in about 4 weeks.I had it locked up on contract for 25k. With only $1.00 down. I asked the investor to put down some earnest money of 1k. and they had no problem with it. Had him sign an assignment of contract and it was that easy. Gave him copies and closed 2 weeks later. Having done that 1 deal really gives me the confidence to move forward and get some more deals. The hardest part I run into in doing this deal is finding it. I had put out about 100 bandit signs in the area. All the contracts I used are on this website. Feel free to contact me for help as I know it is hard when you start out to get your feet wet.
"Success equals failure after failure without the loss of enthusiasm"
Buy,Sell,Rent,Invest at www.mwhbuyers.com
For a Free Real Estate Website and other trainings visit...
http://www.realestatepromo.com/cmd.aspx?af=1292675
Great job getting that first deal done! Now you got the confidence to keep the ball rolling. Great story. Hope you continue to do great things.
Thank you for the details, as others have said that is a help and a lift to us all.
Please tell us more about the words on your signs. I have bandits signs that have been working well getting buyers to call (ex. Rent to Own, 3 to 5 br. Low Down & Low Month monthly payments phone #).
What does your seller signs say? Also, Handwritten or printed?
Thank you,
Great Job,
- Dan
Dan
www.danbuyshomesfast.weebly.com
I think my next company will be making and selling bandit signs for DG member lol I am working on my first contract too...
Not Everything Faced Can Be Changed
But Nothing Can Be Changed Until It Is Faced
NW Home Investments LLC
www.nwhomeinvestments.com
Well played sir! Keep it up!
Donny
But see the main problem I'm having is whether or not I can lock up a deal and pass it on to my investor because the state of GA (from the legal info I'm gathering) is illegal for me to do because I do NOT have a realtor's license? This is one big roadblock I am dealing with at this time and trying to find some more hard facts on.....and the funny thing is...I have my coaches telling me to go through with it because they say that it is NOT ILLEGAL.....and on the other hand several different attorneys have told me that would bring up legality questions and could be possibly "stepping on the REALTOR'S toes, and just go with a purchase and sales agreement with a contingency of AND/OR ASSIGNS. Does this sound like a good plan or should I consider getting more hard facts before pursuing the assignment of contract??
You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do things you think you cannot do. Tough times never last, but tough people do.
See Where The Journey Never Ends At: http://www.deangraziosi.com/real-estate-forums/investing-journals/69250/...
Chase Brooks
www.brooks-investments.com
Congratulations!
Did have to find your own title insurance or escrow company to work with, or did the seller provide these resources?
Also, did you have to attend the closing in order to get paid?
Thank you.
Great Job! I am going through that anxious part myself of still getting my first deal. Keep it up. Happy New Year 2011.
I am on a a vision quest to be successful real estate investor...have your own vision quest to conquer the unknown..and you will defeat any obstacle! HIGh FIVE TO ALL DG REAL ESTATE INVESTORS!
Keep on moving forward and you will be successful!
The next one is easier!
... 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 ...
Excellent work . Now on to your next deal !
Randy S.
Elkton MD
That’s the way to do it. That gives you the push you need to get it done during 2011.
It’s out there we just have to find them and work them.
Great job. Keep it going.
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
Congrats on the first deal!! Keep up the good work and best wishes.
Rick
Rick Merritt
Trident Realty, LLC
Weak is he who permits his thoughts to control his actions; Strong is he who forces his actions to control his thoughts. --Og Mandino
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Just wanted to congradulate u on your first deal wish u all the best and many more deals to come. What a great end for 2010
Congrats on your deal
Congratulations on your deal and thank you for posting your experience! I have not yet done my first deal and reading about your's has really inspired and motivated me!
Here's to many more.
Regards,
Angie
"Do not wait; the time will never be 'just right'. Start where you stand and work with whatever tools you may have at your command and better tools will be found as you go along."
Napoleon Hill
1883-1970
congrats on your first deal, i know the next one'll be quicker.
i believe i'm gonna be right behind you.
keep moving forward, rob
whether you think you can or you think you can't, you're right.- Henry Ford
keep moving forward, rob
Great stuff and congrats on your fist deal! I too am on the hunt for that elusive number 1 and stories like yours always motivate - thank you. Here's to bigger things in the year to come!
Best,
Chris
congrats on your first deal
That is great I am so happy for you Dennis. Let us know if you make another deal and don't be suprised if I ask you for some advise.
Take care. and Happy New Year
Congratulations on your first wholesale deal! Great way to start the New Year. Happy New Year to you!
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Hey i'm new to this and I don't really know where or how to begin. Can you help me? Thanks
Congratulations on your first deal. I have a simular but different situation I have a buyer who wants to invest but I need some help with the contracts. How do I write them up so that I can get them assigned and what should I look out for?
Sincerely
Al
CONGRATS ddebrobander and thanks for giving us the details.
In response to TheYungGun: Break it down this way...you are not finding a seller and putting with a buyer...you ARE the buyer. You are buying the property then selling your interest (contract) to an end buyer. You could go to the closing, buy the property (if you have the money), then walk out and find a new buyer for your increased price OR you find YOUR buyer at the same time and save a step by adding "and/or assigns" then sign your contract over to the new buyer. Does that make sense??
You should not say that you are putting a buyer and seller together because then you could be considered acting as a realtor, instead you refer to yourself as the buyer, which you are, a buyer who is finding someone to sign your contract over to.
Lisa
Congrats, now put it in overdrive and dont even think of looking in the rearview mirror!!!
Glassrealestateinvesting.com
GREAT JOB THEY WONT CALL IF THEY DON'T HAVE THE NUMBER KEEP UP THE GREAT JOB AND KEEP LOOKING IT WILL COME AGAIN .
Signs said the following. We Buy
HOUSES
Any condition
cash or terms
xxx-xxx-xxxx
Hope that helps with that bandit sign questions. Red and White
"Success equals failure after failure without the loss of enthusiasm"
Buy,Sell,Rent,Invest at www.mwhbuyers.com
For a Free Real Estate Website and other trainings visit...
http://www.realestatepromo.com/cmd.aspx?af=1292675
Congratulations and thanks for posting not only your success, but the details and how too's. Very generous. Continued success!
ZepInvest
Happy New Year everyone! I am very excited to join DG family group. Just signed up minutes ago and recently purchased Dean's books and await for its arrival at my doorsteps.
My 1st resolution in 2011 is to learn about REI here (perhaps can say looking for a mentor). I congratulate those whom have made their 1st deal and I really hope I am able to do just that!
Kenneth
Congratulations to you Dennis on completing your first deal. I am waiting to receive Dean's book, and am excited to learn all of the how to's to conduct a wholesale home purchase / sell. You've helped me set my intention on building financial freedom with real estate business. Thanks, Sincerely, Neil C.
Keep up the good work and I wish you much success in the future.
Congrats Dennis on your deal hope you have many more in 2011.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10