There is a gal that is buying one of our properties who has really caught my attention. In my mind, she has embodied the word “determined“. Let me tell you why.
She and her fiance and girls had looked at this country home about 3 months ago and fallen in love with it. But at the time, they did not qualify for financing. She had just lost her part-time job, she had no money, poor credit, and her fiance had been injured and was waiting to go back to work. They had asked about seller-financing (as so many others had), but we really wanted to cash out on this property and didn‘t have a problem holding it for a bit. So, although I did feel bad, I figured that was the last we would hear from them. She said if they were meant to have it, God would hold it for them.
About a month passed, and we hadn’t had any decent offers. Then I got a call. Little did I know this gal and her family had been back out to the place several times to walk around and talk about their dreams for the property. But not only dream. For that month she had been doing all the steps necessary to get financing. By the time she called me back, she had applied everywhere and pushed until she got another job. She had researched every resource there was for a first-time homebuyer. She was persistent until she found a bank that was willing to work with her. She tried to get the down-payment by putting a lien on her van. She even found a friend that would lend her the money the bank wanted up-front for the appraisal and credit check. PLUS she took advantage of every program she found for first-time homebuyers:
Not only will she be getting the tax credit. She also found a HOOP loan that will pay up to $25,000, at 0% interest, and no payments until they sell the property! There is also a $4000 grant that she will get through the bank (The bank belongs to an association that has a “pool” of money allocated for this). This lady has such a meek disposition I never dreamed she would be one so strong in her will to get a home for her family. Well, let me tell you, after hearing all that, I became a motivated seller for this woman, for her sheer determination. I got in contact with her lender and told them that I was willing to work with them to do whatever it took to close this sale, and SOON. First we drew up the purchase agreement with a closing date that would “encourage” expedited service from the bank. Then I took the proactive approach, got a checklist from the HOOP program office and had the electrician and plumber go out and make sure everything was up to par according to their checklist, so it is ready to go when he does go out there. And she already has her homeowners insurance lined up.
While she is getting a steal at $49,500 on this 3-bedroom ranch on 5.5 acres, we are willing to pay any closing costs that may not be covered by her financing, plus give them some cash back for new carpet or to buy new appliances. And if she took her tax credit and sets it aside in a self-made “escrow”, she could use that to make her mortgage payments for a couple of YEARS.
I may have to get this girl into Real Estate Investing with me!
Anyway, I hope you enjoyed this story as much as I have being a part of it. And for those of you with no money, bad credit, I hope it was encouraging/motivating. You can do anything if you just set your mind to it.
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249