I sit here tonight in a hotel room in Minneapolis. No, I'm not on a vacation. I find myself tonight in realization of a dream. A dream that started in July 2009. I was up late watching an infomercial when that cute little Italian dude told me I could make a fortune investing in real estate. There was something undeniably real about him. I bought the books; I joined the Success Academy. I so remember the guy from the Success Academy using such lines as: "Maybe one day you will be in the infomercial." "Maybe one day, you will be the one who goes around the country teaching others." Ya right. I didn't care much, at that time, for the thought of being in an infomercial. I mean, how embarressing would that be if someone I knew saw me?
I had my realtor send me properties that were on the market for 90 days or more.I looked for as-is,vacant,and needs rehab.So I put 25 offers in and 2 got accepted.So I said wait,this isn't right,if i got 2 offers accepted then I must have bid to high.I offered higher then what my gut felt.One of the deals I backed out during inspection,because I knew I was too high.The other offer I went with and sold it in 2 days.
3/1bth 2 car garage.
Renter in Place at 1200/month
No work needed!
My price 45k
Wholesale price 46.5
The seller was so motivated to sell,I know I could have got it for 35k.Always go with your 1st instinct.
But I just love the fact of doing a deal!
An article at seekingalpha.com, an investing site, this week is titled “Private REITs Backfire on Investors Again.” A REIT is a Real Estate Investment Trust. Investors buy shares and the REIT invests in properties in one type of REIT. Another type invests only in mortgages, not owning the properties involved. There are publicly traded and private REITS, and the principal draw for investors is a nice dividend and possible appreciation in value as well.
Hi DG Fam
Just want to keep u posted on 2012 progres, So far im averaging 1 - 2 deals a month. All of them have been through mls reo. I just got one today that the bank is giving me a 30 day inspection period. Now that is what I call a motivated seller
Never give up. Keep pushing forward, I promise you that it gets so easy after a while
Just closed on a L/O and the seller gave us a check for $24,000 to take over the property. We are L/Oing it for 10 years and when we exercise our option we will pay whatever is owed on the house only.
We are planning to option it with a $4K option fee and should cash flow $175/mo.
Out of the $24,000 we will paint, put in new carpet, landscape and do a few repairs that should all come to about $5,000.
This is really FUN!!!
At the Edge Event, Dean said that he had noticed that there are a lot of women getting deals done... and went on to say that 'the girls are kicking butt'!
Sooo, I thought maybe us Ladies could start a thread to see how many active women the DG family has, who following in the footsteps of Carol, Rina, Laura, Gena, Andrea, Jen, Tammy, are out there, taking action!
Come on Girls, let's continue getting those deals done!