After 9 Months..I completed my first deal! $3000

It has been 9 months of grueling hardwork with this business but I can finally breathe some relief. Here is how it happened..

I ran into an investor/Realtor that I had met at an investor's club (go there). He knew what I was doing and said he had a property under contract that he wanted to flip thorugh a double closing (it was a HUD property). I told him that I would contact my buyers and get some people to look at it. He agreed to pay a fee for $3000 if I did, it was obvious that he was making much more but I didn't care.

First the contest and now I am asked to speak at the EDGE! Will you be there?

Winning the contest was as AWESOME experience and I thought things could not get any better than that... Well it keeps on getting better! I have been asked to speak at this year's Live Event!

I must admit that I am a little nervous as well but I cannot wait to share the very strategy that has enabled me to go on to make over $60,000 wholesaling (assigning) properties this year! (split with my partner of course) I will be sharing the very thing that has kept me holding on long after others have let go! With so much against me when I started out I could have given up or given in but one strategy kept me going. I will be sharing it at the Live Event!

I just locked up my first one!

It feels great to know that if I follow what I'm taught, then it follows that I WILL succeed.

I put the Automated Forecloser Finder into motion.
I set up the 1-800 # and the online survey. then I put out some signs that read...

Don't Let Them Foreclose
I Buy Houses
Fast Fast
1-800-........

Two days later I got a call, he filled out the online survey and the automated system notified me. (Even though I was out of town at the time.)
First thing Monday I called him and he was very pleased with my quick response. Said he had called a few others but I was there to meet his needs.

We looked at the property Monday afternoon, and signed the Purchase Agreement Tuesday morning.

Structured deal for a WIN - WIN - WIN

I own a 3/2/2 nice home in Fl. Due to the economy I have rented the home for the past couple of years. Nothing is selling for retail due to the vast numbers of foreclosures and REOs.

So, I put on my creative thinking cap and came up with this.

I advertised on Craigslist. $25,000 down, owner financing. Gave a brief description of the house with 4 photos.

I got a call !!!!

I showed the house today and looks like we are going to contract!!!

Now, the WIN - WIN - WIN.

I am able to sell the house for what I am asking.
The buyer is able to buy the house because I am offering owner financing. He has good income but not so good credit due to a short sale he went through in another state.
I am going to sell the note to pull my cash out.

Acquire, Acquire, Acquire. Perfect time to buy real estate!

What an unbelievable time to acquire properties. I came across this article on the internet that talked about foreclosures in the near future. Take a look at this:
Foreclosure filings were reported on more than 2.8 million properties in 2009, up 21 percent from the previous year and 120 percent from 2007, according to RealtyTrac. With nearly 10 percent of mortgages now delinquent--which is also a new record--even more homeowners appear headed for foreclosure this year.

Good deal for first Time!!

Amazing how fast things move!! here are the spec's:

Owned financed rehabbed home: $29,000 @ 10%
Apprasial: $43,000.
My monthly payment(due 1Mar): $425
Local rental rate: $500-550
Will refi. day after closing: $39,000 @ 5.25-6%
New monthly payments(hopefully before Mar 1): $350 (give or take a few)

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