Persistance Pays

I want to give you a short and dirty background on my story:
I live in NYC
In 2005 I bought a house in NJ using a "mentoring" program from a washed up investor who did not know how to change with the market. He was teaching old techniques and I paid for a $10,000 mentorship where they basically said "make more bids" "find a buyer".
This was the height of the flip business and I got a loan for 103% of the price I paid for the house. I fixed it up. Cleaned it up and put it on the market. We wanted make a "quick $15k" like the mentor said. Buy it. Mortgage it. Fix it and sell it before the first payment is due.
It didn't happen!
So we moved in to our smallish house and stopped paying rent to start paying mortgage, insurance, taxes, interest, flood insurance, car insurance.....
We lost the house in 2008.
In 2011 my wife filed for divorce and kicked me out. Honestly I do not know why: I didn't hit her. I didn't cheat on her. I treated her well but I didn't make much money. She also told me she was moving to TN with our son. My Son.
So I started searching the market in Nashville where my son is. I found a deal in the first month and funded it with a friends money that I paying back at hefty interest, but I have rental income.
I continued to look for deals and to work with brokers in Nashville while I was living in NYC!!
Next week I close on my first assignment! The buyer saw the house yesterday.
I got a contract for $22,500. My investor friend in Nashville called a buyer he knew and told him $30,000. I'm giving my friend $1000 for his work. I will make $6500 for finding the deal.
By the way this deal is helping to fund another deal i found that I want to keep for income.
Deal 3! And I'm making income every month.


kareng's picture

I am so glad that you are making it work! And that soon you will be living closer to your son.

Maybe you can connect with Louisa down there. She is amazing and can probably help you set up your team and connect you at her REIA.


Congrats Andrew!

Valuni's picture

so happy for you that you are making it happen!! keep up your perseverance, and keep us posted to your coming deals!

Andrew - you have true grit

Best wishes on your accomplishments and for your future success.

Thank you DG Community

I have been building this business as well as another one at the same time.
It has been a struggle but my "Why" is more important than my "I can't".
I have more deals in the works instead of suffering from "One Deal Itis"

You can't keep a good man matter how hard you try

Great job! Keep up the positive energy. Love the fact that you were able to kick it into gear when life threw something unexpected your way.


Kudos, Andrew!

Liberty Kat's picture

Kudos to you, Andrew, for your persistence!
Great to hear you turned lemons into lemonade!
Keep on persistin'! Laughing out loud

Best wishes and Congratulations on the deals

femailceo's picture

and monthly income from investing. HOpe all is going well now and you have moved or will move soon to be with your son!

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