OfflineHey guys just wanted to share this awesome deal I just did and hopefully inspire a few to keep pushing. I think this is my 12th or 13th deal and prior to this my biggest profit was $20,000.
This happened to be of a lead I got of my newspaper ad and it was a seller in financial struggles that own a house free and clear. It was a raised ranch worth somewhere around $200K ARV , needed about 30K in work. I locked it up for $105K and about 30 days later, I found a cash buyer who offered me $135K and we closed Monday. I still can't believe how much I made here.
I never imagined about 2 1/2 years ago when I quit my dreaded job that I would be here today. It truly is a dream come true for me. The money is great but the best is that real estate gave me hope when I was living a not so pleasant life. So you all can do it , if you keep at it and learn every day.
Dean I can't thank you enough for changing my life and I hope to meet you someday to shake your hand and tell you how much of a difference you made in my life.
Ok guys , now is your turn!Take care.
MARTIN
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!
Can you walk us through the process of this particular deal?
1. Seller agreed to price and you put into contract....? What was the length of the contract? and How much in Earnest $?
2. Did you have a buyers list set up or did you run ads to sell the property?
Any detail would help just to clear up doubts or questions I have....
Thanks ahead of time and keep going you are doing great...
Joel
my contract is 1 page very straighforward for wholesaling. I put down $10 thats not a typo I said $10 dollars. I never had a problem with any sellers saying that's not enough. If a seller is motivated he doesnt care as long as he gets all his money at closing. I have buyers list but I sold it to a new guy who found my ad on craigslist. most of my deals I sold on Craigslist believe it or not , depending on your area it maybe the same for you
MARTIN
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!
Just keep pushing and adjust your strategies.Try to find yourself a local mentor if you can that's something I did. Hope to read your story next.
MARTIN
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!
Thanks for sharing your great deal with us.
It gives everyone hope and what an inspiration!
It is great to hear about another DG member.
On to the next one!
Congrats!
Laura
BMW Investment Properties LLC
www.bmwinvestproperties.com
Congratulations on your first $30,000 deal. I am sure you will have many more to follow. Wow $10 earnest money huh. Great job.
and cheers again!
To get something you've NEVER HAD
DO something you've NEVER DONE.
Great deal, but it sounds more like a buy - sell , rather that an assignment. "he gave me 135k" does not describe someone that has purchased the contract. That would be described as," he took my position for 35k fee"
No matter -nice pay day. I have made 65000, in May alone, so I am qualified(2deals)
Joe
Martin keep it up! You are doing great. Keep updating us on your success!
Martin Thats great! Hope to be there soon.....
Joel
Hey Martin!
Meeting with a homeowner tomorrow morning who's constantly calling me.
He has a property that he owns FREE AND CLEAR and empty that's worth about $124K.
From what he's telling me it needs cosmetic repairs only. TBD!
Think he's motivated? Maybe not, I am!
Rodney
Start Where You Are! Use What You Have! Do What You Can!
Never let failure dominate you. Never let the mistates of your past Lord over you.
Go Confidently in the Direction of Your Dreams. Live the Life You Have Imagined.
- Henry David Thoreau
Website that get's results: www.jracrealestateinvestments.com