OfflineFinally! I became a DG studen at the end of July...I have searched for the great deal, created a blog, website, created an LLC and have tried to get my power team together. Through this process I have ended up with 3 realtors. I put offers out with two of them (about 20 offers, contingent upon inspection and my attorney's approval) I am still waiting on the bank for an offer I put in for less than half of what the property was listed for.
Anyway, as I put in all of the offers, one of the realtors I use called me in the evening about a month ago and said she had a property that was to be listed the following day and asked if I wanted to go see it. My husband and I went to look at it; it was a duplex. We came home and put in an offer. Because the bank was to list it for less than the BPO, they stayed firm on the price...I locked up the property and closed on it November 5, 2009. I purchased it for $11,400.00; I am putting a little over 10 k in rehab (including furnaces, windows, paint, carpet and fixtures)
My exit stategy is...I am talking with the neighbors and listing the property on my website, blog and craigslist and I have printed flyers to take to the RE meetings. I hope to sell it out right and use the profit to purchase another, however if I keep it and rent or do a rent to own...I will have about $1000.00 positive cash flow...So you see --- either way I got a great deal!
I have read a lot of the first deal postings and I am so happy that I finally could contribute to the forum!
Good Luck and God Bless
Christina S
Christina you go girl!!!
It feels awesome when you get that first deal done. It takes determination, and willpower, but it's a great feeling when you get #1 done. I look forward to seeing more of your deals on the DG site.
Destrie
Destrie
Failure Is Not An Option
What an amazing job!! Great 1st deal!! Once you do the 1st the rest will come flying to you! Crongrats once again!
yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the "present."
"Be not afraid of growing slowly; be afraid only of standing still"
That's awesome! Congratulations!
Success and Nothing Less!
You guys are pumping me up to do my first deal!!!
Congratulations to you Christina. Good luck on your number 2nd, 3rd, 4th..........
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-
Christina,
You are motivating me and making me work harder towards my first deal. I must admit it has been very hard but I am making headway. Your first deal is awesome and wish you the best with your next deals. Please keep all of us posted because it motivates all.
Walter Duran
thats an awesome cashflow deal.im in the same boat right now. i found a property (duplex) needs minimal work (5K max). i have 2 days to submit an offer. the only thing is it has to be cash offer to compete with other offers, which is not the problem (was gonna use HML). the problem is they need a bank statement showing that full amount, which is 45K. My partner has great credit I have the 40% down but still stuck. Any suggestions, I was going to ask some people/friends and give 10% interest on top of what we can borrow for 45 days, or any other way? The duplex can rent for $800 each 2br 1ba (i know because I asked the neighbors and the listing broker said they had to evict the little old lady who was staying in one of the units paying $795.) If anyone would like 10% return on their money for a 45 day loan please contact me. I didn't mean to highjack your post but it was so interesting cuz I have almost the same deal cashflow of about $1000 that im trying to get.
Again Congrats,
Ron
Christina. I wish you continued success!
Lea
SPR Property Solutions, LLC
Congratulations on making it happen. This is one of many successes. All the best and 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.
Nice job chris I know it has to feel good to stand in front of a property and know you will make a lot of money from. I wish you well and I can tell you are on a path that will be great for you and your husband. Have fun with it!!!!
"Progression beats any recession"
Good faith on all future ventures guys
Stay Blessed
Calvin
Nice job chris I know it has to feel good to stand in front of a property and know you will make a lot of money from. I wish you well and I can tell you are on a path that will be great for you and your husband. Have fun with it!!!!
"Progression beats any recession"
Good faith on all future ventures guys
Stay Blessed
Calvin
Great job and congrats to completing deal one of many!
Do today what others won't, so you can live tomorrow like others can't!!
Congratulations, now that you have made such a good 1st deal, the next one will come easier. Looking forward to hearing about it. Keep us posted on how everything comes out.----Kolby
Thank you for posting and sharing your story, again congratulations!!!!
Thanks;
Clarence
Clarence E. Grooms
cegrooms@****
316-633-1774
Way to go Christina on your first deal!! Awesome work! I'm on my way to my first and I know its coming soon! Keep up the hard work and you'll soar with eagles instead of flock with pigeons!!
Thanks for the inspiration,
Leo
"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!
Congratulations! You found a killer deal and knew to jump on it fast. YOU BEAT THE PROS TO IT! Woohoo!!
Good luck with your exit strategies, and I know it will work out exactly as you want it to. Thank you for sharing your story!
Many more to come!
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
Congrats to you. That is pretty darn cheap for a house. Seems like you have a great deal, either way. I think it'd be cool to hold onto it for a while and rent that baby out, always a great thing to have cash flow coming in. Keep up the great work, and let us know if you ahve any other deals in the works.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Great job on the first deal! Keep up the great work and you will have much success on all your future deals!
Rick888
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
Get your very own 1-800# at a great rate. Just click here:
http://www.itelecenter.com/COAPhoneSolution?referredby=8662684543
Check it out. Now you can set up your own 24 hour messaging system!
Congrats on your first deal
I wish you continued success!!!
Miyuki
Whether You Think You Can or Can't, You Are Right
~ Henry Ford ~
Great killer deal and price. You are on your way and one of many to come. Good Luck and continued success.....Jan
Congratulations....I can't wait to get my first one going...!! Hope to post mine very soon...!!
Great job on your first deal which I like to call the "icebreaker", I'm sure there will be much more in future time. The possibilities are endless in todays down market with so much real property open for investing.
I wish you all the best on this and future investments.
CAM-
John 14:6
Ron, What is the property listed for? You said you were gonna use HML? What is that? If you are making a cash offer, why does the bank need to see where your money is coming from?
Christina
Rina, I did beat everyone else to it...many have stopped by and said they missed by a day or so! The bad part of this deal is it is in a neighborhood that is iffy at best...There are a few next door neighbors who own and who are excited to see me improving the property...however there are many all around that are vacant. I think I will have it rehabbed in the next couple of weeks. I am then planning on just selling it out right hopefully; so I can get on with the next one. This is not a location I really want to hold it and just rent it. That is my last resort! If you have any suggestions, please feel free to let me know!
Thanks,
Christina
Not bad, but is 1,000 $ worth it? For me it's not such a big profit...
__________________
When you are a student,research paper help is your lifebuoy.