OfflineClosed today on my 4th deal for $3K profit, no money out of my pocket! Details: DOM 383 when I found it on MLS after price reduction to like $47K from around $65K; initial offer was $25,900 and held to that to $39 or $42K then $30. I then countered $28K (listening to that quiet voice that for me is the Lord). To my realtor's amazement more than mine it was accepted! Then I emailed to a buyer and he was interested; it was a process but I learned a lot as well as the realtors. I was successful in the assignment for $3,000.00 profit. Oh goodness I didn't give the property details: it's an up/down duplex 2 BR 1 BA. 1 occupied at $420 and the other upper unit vacant for a year and was $375 I think. Vacant unit mostly requires updating, bathroom was good though! I hope I included enough details! Yeah! Randy's right; anyone can do this! A very special thanks to Greg Harmon as he guided me through this one! He's a great man! Another thank you to Matt! Thanks to Jesus for opening the doors and building my faith that this is my path to Freedom!
Cathy L
Closed 4th Deal!
Posted on: Thu, 11/10/2011 - 03:55
Closed 4th Deal!
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Congrats Cathy!!! Did your realtor know that you was going to assign it?
Great job! Hope to hear of more successful stories
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
great job on your 4th deal!!
celebrate your achievement!
Wishing you many more,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Nice to hear your success.
Happy Investing!
Think Less ~ Do More
Take Action = Results!
If it is to be, it is up to me.
You must be feeling pretty confident huh after 4 deals huh? That is AWESOME!
Great job very happy for you.
Steve.
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...
Thank you to you all. Lenee my realtor did know I may be assigning it and this was my 2nd assignment deal using the same realtor for me.
Cathy L
I was just looking at the response....I think the guy before me asked that question. Threw me off for a minute
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Very proud of you, well done.
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.
Persistence pays off! Congratulations!
2 good units for less than $20k a door. What is the projected ROI for the buyer?
Give thanks to the Lord for He is good!
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT
Thanks for posting these for us Cathy. CONGRATS on the 4th! Can't wait to hear about #5 and beyond!
SEMPER FI
GET SOME!
Congrats!
Keep them coming!
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!"
Hello Cathy I was curious what city did you do your deal in? I am talking to a few realtors now. I think being new to this the hardest part so far is getting it under contract or the right contract and then getting your cash buyers together. Is anyone else at the beginning stages as me right now? Cathy your awesome and your success inspires me. Is there anyone else on here from Los Angeles California. God Bless All
Eric V
Cheers!!
On to the next
To get something you've NEVER HAD
DO something you've NEVER DONE.
I'm really proud of you and excited to go forward.
Like you said anyone can do it!
- Truly believe in yourself! -
Dennis
Hey girl! Long time no speak....popped on to listen to the blog and saw your post. Hoorah! I am SO very excited to see you are on your 4th deal!! Looks like all your hard work is paying off and you've hit your stride. Great going
www.adeptpropertiesllc.com
my story:
http://www.deangraziosi.com/node/10404
On to the next!
I am right behind you!
Click Here To Buy Deans New Book!!! http://www.lanemccaw.bookimentioned.com/b/
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
Congratulations... keep on keeping on.
shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Congratulations... keep on keeping on.
shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
For those curious this property was in the quad cities. This building is 100 years old and had some slanting floors that was a concern. The lower unit has a long time tenant in place which actually made it difficult to get my buyer in there to look at it. The buyer I assigned it to was actually fixing it then selling to another buyer who wanted to see it so we scheduled that at the same time as the pest inspection. It took a while to close too as this was under contract at end of Sept.
Just know taking action is key and not backing down. I had to tell my realtor the deal is off if I can't get my 'partner' in there to view it. I had a clause 'upon partner's approval' (highly recommend everyone use this clause).
Cathy
Keep on truckin'!
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
Congratulations on your 4th deal!
I have a question for you: I'm a beginning investor,and I'd like to know what you would have done if none of your buyers wanted that property? Had you already submitted earnest money?
Thanks for responding!
It's not over 'til you quit!!!
Great job on your 4th deal. Keep going!
Hi Cathy,
Congratulations! Can you please explain how you might have handled this if it was an REO and you could not do an assignment of contract? Would you have been able to profit with the extra cost of a double closing, or would you have done something differently?
Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
Great job Cathy! It sounds like a great deal. I can't wait to hear about your next deal!