Today was the big day that I did my first assignment. I had a seller contact me about selling her property, I went and looked at it, locked the property up for 5K. I marketed the house, found a buyer that wanted it, assigned it to him for 6K. Sounds simple right??
After a few bumps in the road and this question and that form later, we got the call yesterday to close our last deal and that date is November 23rd at 11:30am.I have to admit, it was getting a little crazy, but hey, this is the game we have chosen to play. Anyway, we will walk away from closing with $1408.00 in our pockets.
THIS IS TRULY A NO MONEY DOWN DEAL WITH USDA. All of our up front money will come back to us. The only money we spent was a $300.00 house inspection fee which came thru with flying colors. That was an option, not required.
Just to let all you out there with goals and desires know, it IS possible to do this REI stuff!
FOMAC receives HML pre-approval today for the up coming auction!
Still waiting to hear back on the owner carry property, but very excited about everything at this point! I litteraly can not move fast enough to soak up every opportunity that is being presented to me.
Everybody needs a piece of this pie - now go get em boys!
Failure to plan is planning to fail.......
Hi everyone, Dean,
Today was a very encouraging day! I signed the offer I made on a single family, owner carry property. That was about 3:00 pm this afternoon.
But WAIT..... Tonight about 6:00 pm I got a call from a friend of mine who I told to pass along any potential renters, and she was asked by someone she knows today if there was a place for rent in town!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The offer has not been accepted yet, should hear back in the next 24 to 48 hours. But in any case I have not just this tenant as an option but others as well!!!
Well I am getting closer to my first real deal. I have been a fan of REI for years and never had all the puzzle pieces to make sense of everything. I for some reason really started looking at REI in January of this year. In July I saw Dean on TV. He is the most genuine guy I have seen promoting any information or product. Through all my action I actually became a property manager for a couple who moved out of state and have a huge list of potential renters looking for housing in my area, awesome!
Last week one of my offers was accepted !! I am so happy ! I want to thank Dean and his team , as well as everyone on this site .. This stuff DOES WORK !! You just have to be persistent and flexible ..
The home I will be buying is a short sale -- 3beds, 2 bath with a half acre lot .. The property needs basically 6k to 8k worth of rehab and then I can resell it making around 25k profit .. Not bad for a beginner ..