OfflineI finally gotten one in the bag! Hooray 
3/1 it's truly a 2/1
Acres: 0.2238
Living space:1080
Appraised: $66,700.00 (County Assessors website)
Last brought for $35,000 in 20 Sept. 90 (County Assessors website)
List price $6000
Offered $6000 plus Seller pays portion of closing costs
HUD only pays 3%
Offer was accepted. Now just got to wait on clearance of title (title check) and then we'll close hopefully before the end of the month.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Way to go on your first deal. This just lets me know that if someone else can do it so can I. Hopefully, I'll be posting about my first deal soon.
"Your ability to succeed is only limited by your ability to conceive that success in your mind. Believe and it shall be."
Money flows EASILY to me!
I am a money MAGNET!
I CREATE money!
I have enough money for ALL of my wants and needs!
But I thought that you had already made deals before now? goes to show how much I'm paying attention huh? lol. Well again, I congratulate you buddy!
Bryant Slade
Congratulations on your first deal. Way to Go! This must be such an exciting time for you. Are you going to hold the property for a rental or resell it? Either way it sounds like the numbers should have plenty of profit margin. Keep up the good work. Good luck on all your future deals! Believe and Achieve!
- Joe
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Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Congrats on your first deal
Good goin. After all the misses, I'm happy for you. I just started sending out letters on 4 Sept. In my county alone there are over 1,800 foreclosures. Now it's a waiting game. The best of luck.
Happy Hunting
charlie-d
on your first deal. You must be so happy and excited about this. Wish you many more.
Lea
SPR Property Solutions, LLC
I was either outbid or the lender rejected my initial offer or they counter with an offer that was unaccepted that didn't meet my criteria to continue the negotiations (?sp). This one I went for it and my initial offer got accepted. It goes to show others, you have to keep making multiple offers before that one offer of yours is said "Yes" too.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
You are the definition of perseverance!
I am very happy for you, and thank you for sharing your journey along the way.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Since I have to commit to residing in it, as my primary residence, for 12 months (HUD home for owner occupants). I'm going to fix it up in the mean time and in about 9 months out, start marketing the heck out of it to get it sold to another investor. Or retain it for positive monthly cash flow. Thanks Joe, this is only the beginning.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Thats Great ATlcamel
God Bless
Congratulations!
Hi Atlcamel, I want to ask, Did you use a Real Estate Agent to give an offer and close this deal? Do you have any company like LLC etc. that you used or represent for this deal?
Job well done. 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-
Great job. Makes me a believer. I hope soon I will also be telling all about my first deal.
Way to go Atlcamel keep going...
Lisa
Congratulations on your first deal!!! Is the second one in the works yet?
Brian
Answer your questions, yes I did use a REA. With HUD you have to go through one of the approved agents to submit your bids whether you're an investor or owner occupant. No I don't have an LLC yet.
Hi Atlcamel, I want to ask, Did you use a Real Estate Agent to give an offer and close this deal? Do you have any company like LLC etc. that you used or represent for this deal?
Job well done. LA.
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
That's awesome, you know you are in line with your destiny if you were able to find an amazing deal like that. Wow Congrats
Jason King
Great, Thanks a lot. I'm in the process of finding the right REA to do the work for me. Thanks for the info.
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-
Great to hear of "Deal Number One". You are on a roll now. Good luck on all of your future deals. Johnny D.
"If You Think You Can, You Can. And If You Think You Can't, Your Right."
***---Henry Ford---***
Alana,
I am very happy for you,On your accepted offer!!! If you would explain the closing costs and was this a cash deal?
Other than that,I feel really good reading about your first deal.I have learned alot from you!
Randall
Invest in yourself!
I love your Scripture reference, Rina!
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
I love that fact the you say you will not be broke anymore and you will not b/c you are taking the proper steps to prepare yourself for your future.
I am so excited for you and your journey. Many More.
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
that is great news let us all use this as motivation
so who's next to add another one to the DG family?
Congratulations on your first deal. Keep up the good work. I want to be like you when I grow up. LOL
Looks like you've got a lot of equity on your hands.
"People Build People"
I'm in the midst right now of trying to make those offers and would be lying if I said I wasn't very apprehensive. Your success gives me renewed confidence to keep on, keeping on! Keep us posted of any new details!
Suzi : )
Check out my journal at: http://www.deangraziosi.com/real-estate-forums/investing-journals/29155/...
CONGRATS, you did it, I know you would. Hats off to you. You were determined, you stayed the course, you have won the prize, now lets see a bow. Okay, now get ready for the next deal. Alana, I am really happy for you. To our other DG members, let's see how many deals we could get by the end of next week. 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.
Great job persevering. I am looking forward to posting my first deal too. There is a lot of learning and obstacles.
Newest lesson learned yesterday.
Had a counter offer in, removed it to bid on a property that I thought might fit my needs, found out that bank will only finance that with a ARM because I am an investor (It is a nice looking manufactured) and I am leary of doing that. Going to meet with banker to solidify what I can finance Tuesday. May re-offer on my first counter offer, unless something better comes up in my area.
I want to have something before snow flies! Working on finding something since Easter. Happy hunting to all.
P.
“The one who has hope lives differently;
The one who hopes has been granted the gift of a new life.”
Pope Benedict, Spe Salvi,2
It's a cash deal! Waiting on the Seller/bank to sign off on documents and also the closing attorney, who has to run title, when we get the docs back from the Seller/bank. I'm hoping to close by or before the end of this month.
I will post those numbers asap when this deal is sign, seal and delivered. The net to the seller is $5320 (I do know that much), I promise I will post further details when they come available.
I am/will be working on deal #2, I have to find out the seller's "magic buttons" to lock it up with lease option w/purchase contract. I feel that will be the way that I go for all my future deals. Everybody keep on working finding those deals! God Bless with you REI endeavors. Also God Bless to everyone cheering me on too! your day and deal will happen soon also!
Other than that,I feel really good reading about your first deal.I have learned alot from you!
Randall
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Congrads on your 1st deal!! Keep it going! I'm working on my 1st one ,too, will keep all posted.
God bless!!
You are on your way to posting your first deal. It is those who feels it knows it. Keep vigilant and things will happen. 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.
Hello everyone, i'm a newbee in the business. Can anyone shed some lights for me. My Real Estate Agent told me that everytime we submmit an offer, along with it is the Earnest Money Deposite and a Pre-approval Letter from the lender. He said that it does'nt matter if we assign the property but those are the most important things that needs to be considered in the beginning of the transaction.
I would agree with the Earnest Money because it was clearly stated in Dean's book. However on the pre approval letter, it's not very clear to me if this is needed cosidering that you will assign the property to another buyer as long as you have the proper documentations signed by all parties concerned.
Anybody who can briefly clarify this things to me I would deeply appreciate.
Another thing, he told me that if you make an offer to an REO, you also need a pre approval letter or if you're a cash buyer, you need some proof of assets.
Thank you very to anyone who could explain this. Thank you also for reading.
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-
Realtors can make offers with only earnest money but will not waste their time regardless of intent to assign, double close or buy and hold if the seller will not consider offers that are not bank qualified or cash verified.