CONTINUED FROM MY BLOG PAGE:
This new wholesaler's name is Matt. Matt had contacted me through an ad I had posted about looking for cheap properties. He gave me a call and asked if I'd be interested in buying these 2 properties he had recently placed under contract. After I told him that I am doing what he is doing (wholesaling)... We agreed to work together and try selling them together.
Finally, in November (around Thanksgiving) I found my buyer for one of them. Her name is Megan. Megan was a new investor and this would prove to be both of our first deals.
So, after months and months of showing her the property, waiting for her to make decisions and re-negotiating the contract with her and the seller finally closed the deal a few weeks ago.. I got the seller to lower his price from $38K to $34,500. The house appraised at $43K and I sold it to Megan for $35,800...
After all was said and done, I didn't come out rich, and only ended up making about $1K on the whole deal... BUT, This was a GREAT learning experience.. I found out a few things: I do not really need an RE agent to do this (unless I decide to expand to Government owned properties), It is VERY possible to do this with no money out of pocket, I learned how to negotiate a deal to make it a win-win-win deal & how to create the proper contracts to use in the deal, and last I learned how the whole closing process works..
So, all in all it did take a total of about 3 months to close this deal, BUT; I only plan on moving UP and cutting my next deals time frame in half!! With hopefully DOUBLE the profits...!!
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Just figured I'd bump this up....
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
I love your persistence which you had on this deal. If you think about it $1,000 is way much better than a $0.
I'm happy for you. Keep up your good work.
Onto The Next On Now haha..
You will surely succeed!
TC
Miami Florida
"If you are not doing something that help the universe or God or your family, or YOU, is that something you should still be doing?"-Dean Graziosi
"Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!"- Joe Jurek
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SO HAPPY FOR YOU !!!!!!!!!!!!!!!!!!!! great work. persistence taught you alot thats good. on to the next......
IT'S AWSOME TO BE ABLE TO DO THE FIRST DEAL..... ABOUT A WEEK AGO I DID MY FIRST DEAL AND IT WAS THE BEST FEELING EVER. IT'S SO ADDICTING THAT FEELING THAT I CAN'T WAIT TO FIND MY NEXT DEAL.
KEEP THE ENERGY ALIVE MY FRIEND.....
Congrats on your first deal Eric. As Dean stated before, your first deal may not be a home run but its the knowledge and confidence you gain from your first deal, this will make the other deals to come seem more easier. Good luck
Reynold Orozco
Eric!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
the feeling you get with that first deal is priceless!!! Use the momentum that you are experiencing right now to keep moving forward and getting many more deals!
Once you get the first one done, the next ones will come in easier...
Wishing you continued success,
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/...
Yes TC, that's exactly what I said... $1K is definitely MUCH better than nothing.. I just hope my next deal will be even better!!
Thanks for the comment and encouraging words!!
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Walt... Thank you very much for the comment... Persistence is the KEY to make this RE investing work!!..
Good luck to yourself as well...
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Congratulations!!! on your first deal as well!!.. It is very addicting and even more encouraging to go out and do More and More!!
Good luck to you on your next deal... I hope they both come quick for the both of us...
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Thank you very much for taking the time to read about my first deal, and for the encouraging words!! I did definitely learn a great deal with this first deal, and hope that the rest do in fact come and go easier and easier with each one I complete..
Thanks again Reynaldo, and good luck to you as well...
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
****Visit my websites at www.p-rproperties.kwrealty.com and at http://p-rproperties.yourkwagent.com
"Whatever I will become will be what God has chosen for me." –Elvis Presley
Thank you very much for taking the time to read about my first deal and comment on it... I hope all everything is going good for you....
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Valerie, yes I am definitely still feeling the accomplishment of finally getting that first one done.. I am currently working on selling another 2 properties I have, and working on getting some more under contract!!
So, I have not stopped... and will not stop until I can finally play the "buyer" role!! Thank you very much for the encouragement it is very much appreciated!!!!
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
I love the comments all the other investor post on your successes. It is an amazing feeling getting a whole deal done, the a great thing is when all the other investors support and encourage you to do your next deal. you can see why it is so important to keep connected with like minded people. It will help drive you to success.
Great job, look forward to seeing your next deal.
I always say Keep Moving Forward! Never Give Up On Your Dreams!
As Matt Larsen says "Feed the Need" - Edge 2013
Follow my daily investing journal and read about the deals I've done and am working on at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...
Yes Mike it is VERY important to stay connected AND motivated!!! and this site provides both... It provides MORE than both!! haha...
Thanks again... and I am hoping and praying that I will be able to post my next completed deal here in the next few weeks or so....
Keep an eye out!!
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Just in case anyone new wanted to read about it...
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
I like your persistance and attitude. Remember the better deal that you negotiate, the more profit you will make. Start making offers at 65-70% of the asking price until you find a seller who is will to come down to your price. It will take 25 offers to find one motivated seller. But when you do you will have a product that your buyers will want and you will be able to charge a reasonable assignment fee for it. (Like a min. of 5k) That will make your efforts worthwhile. Keep up the good work.
way to go matt nice it feels so great doesn't it, keep going man I have done 4 deals & it does feel awesome, we can do this & make some awesome profits. be well.
Tony
Go faster do more! GFDM!
Hey JC..... Thank you very much for your positive comment on my post.
Unfortunately, I didn't originally get the house under contract.... I "re-negotiated" the lowest price I could, and figured I'd give it a try at this amount...
Recently I have been on the verge of wholesaling his other property to a potential 1st time home buyer (a good friends son). If all goes well with this deal, I should make about the same as this first deal... Hopefully a little more...
Thanks again JC...
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
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"Whatever I will become will be what God has chosen for me." –Elvis Presley
Hey Tony... Thanks for commenting on this and for the encouraging words!!
WE CAN DO THIS... and we WILL DO THIS!!
Congratulations on all of your success so far.. (4) deals are awesome!! My goal is to get 5 or 6 of these deals done by the end of summer, and to have my very first rehab/flip deal sold before the end of the year!!
Keep up your good work, and keep in touch!! I WILL be posting my next deal soon....
**Follow my success in this "30 Days To Real Estate Cash" journey I am on by reading my blog on my profile page....
****Visit my websites at www.p-rproperties.kwrealty.com and at http://p-rproperties.yourkwagent.com
"Whatever I will become will be what God has chosen for me." –Elvis Presley
don't ever EVER give up and "keep moving forward", rob
whether you think you can or you think you can't, you're right.- Henry Ford
keep moving forward, rob
Congrats on your 1st deal. I'm still working toward mine. Continued success and increased earnings.
Greg
soon will be me
i am a beginner and want to be part of a really strong network of people i have done a few guru conferances but decided that dean is still the best . i now just have to get together with people that can help and assist. i can do it determind and broke but have the ability and the go to get this done
Great job Emattp ! I currently am trying to set up my LLC and then I am off on my way, love hearing this and many other stories of my fellow dg family members..... One thing I wanted to mention is how did it go with the transactional funding company I read in another post I saw you made, did the website clear it up for you? If not I have one that not only puts it in writing but gives you a video on it as well..... Lastly did you consider joining I E (insider's elite)......
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
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Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-