Hey everybody. I just wanted to report in that I have completed my first deal. So here is the story. The house is a HUD home, 4 bed/2 bath, .50 acres, I was going to submit a low offer and I was going to fund it using private funds do a little rehab and then show it to my buyers. My partner providing the funds backed out. My other business partner who was going to help me rehab it backed out because he is currently campaigning for city commisioner which is taking all of his time. AHH!!.... Frustrating!!... So I just started calling of my buyers to see if they were willing to do a finders fee agreement if I just found them a house. Apparently that was the right choice and the only other option for me at this time so I made it work. My buyer happened to be my real estate agent. The thing that made this house unique and not many people know about it is that you can only bid on it electronically and their are only 2 agents out of 40 in my home town that know how to do that. LOL. She happens to be one of them. She hasn't even closed on it yet but plans to live in it herself. She has already given me the check. I ended up making $1,000.00 with only 1 hour of my time into this. That's what I like to call NO RISK and NO MONEY DOWN!! I have another deal that I have located for an investor and if all goes through then I should make anywhere from 3k to 4k. Ill keep you all updated.
Until then, best of success to everyone in real estate investing!!! Godspeed