My first deal will be paying off big!

Hello,

I just wanted to give everyone on here positive feedback! I just started into the Real Estate Investing business two months ago, and I just wanted to tell my story, so maybe I can help someone else out.

My first deal I am in the process of making will make me over 25,000 dollars and I am new at this. If I can do this, anyone can do this.

Why is FMV hard to find?

Lately, you as well as I have probably found it hard to find a true FMV (fair market value) on properties. As you know we use the FMV to run an offer formula. Some have turned to places on the web to find a FMV but have quickly found out that comparables are the best way to figure the value.

Then why are the current values so hard to get? And when we do why the values are so much lower that we have seen in the last few months?

Working the market

Here is a PM I received that I wanted to make note of. I believe we can all learn from this:

I need help getting started. I have several challenges I'm having difficulty solving. Will you help?
First is no money. I mean none. My husband is a commercial fisherman currently scalloping in MD right now (we're in CT) to scrape together LAST months' mort. payment. Talking of cashing in our daughters' (we have 3) savings bond to make this month;s pymt.

Hoorah....finally a done deal in May! :)

Hello DG Members,

I got some great news on another offer after I was slightly upset about a broker shopping my offer on another home. I had been watching a small brick ranch REO home for 2 months and the price dropped from $69k to $49k. I made an intial offer of $15k and the bank Asset Manager rejected it and countered at $40k. A week later I offered $16k and the Bank Asset Manager countered at $30k. I waited one more week and then stated my best and final offer is $17,500 and the Bank Asset Manager.....accepted the offer!

The little house that got away.....Do not give Brokers too much time to shop your offer!

Hello DG Members,

I quick note to update you on a deal I have been working on. I had a small ranch home on may radar for over 6 months. The property was a "boomerrang" and ended up with 3 different brokers during the past 6 months. The price dropped from an original $59k to $19k. I moved in on 05-11-2009 to make my offer the day the broker received the new listing and before the home was put on the MLS. The Broker put the home on the MLS and sat on my offer for over a week to shop for several offers.

Dean Graziosi Weekly Video Blog #25 - How Are You Moving?

Could the Way You Learn, Succeed, Even Your Very Life Purpose...Depend On How You're Moving?

There's a school of thought that divides people into two groups. Those of us that move away from conflict or pain, and those of us that move towards comfort or peace.

A first that might seem silly... "Don't most of us try to avoid pain and seek comfort?"

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