Hey all-
Just had to gloat for a minute. My business partner and I just took control of a beautiful rehabbed property near the East Lake Golf Course in Atlanta. We now control a half million dollar appraised property for NO MONEY OUT OF POCKET, NO CREDIT CHECK!
Not bad for our first deal and only working together since Saturday, September 17, 2005.
We are excited.
congrats… ;D ;D ;D would you share what steps you took to get where you are…
thanks, Digg
Well, it is like this. We found an owner with 3 high end properties who is trying to market them all himself and it is killing him. Properties all together range in the $1.3 million appraised value. We structured a deal where we got the property for what he owed, with a bit of an incentive to work with us. He liked our numbers so much, he has asked us to help with his other 2 properties. We just ran across a motivated seller at the right time.
Good for you - congratulations! You’re right, it is all about catching the MOTIVATED SELLER and THE RIGHT TIME
Need to rephrase our subject line to “First Deals in the Works”
Day 2 of motivated sellers - business partner and I now control $1, 275, 000.00 in real property.
We are pumped to be greasing our wheels and getting our machine to the starting gates so well.
For the time and effort we have put into studying, it really is starting to pay off.
OH, still no money out of pocket, no qualifying, and no risk!!!
Still no details…how have you structured the deal? 100% financing? Are you looking to wholesale? Bought it on a promissary note? Enlighten us.
Sounds like the old “too good to be true” deal. Details??? Or is this seller just giving away $1,275,000? Yeah, right…!
Well it is the value of our portfolio from 3 houses. One person’s “too good to be true” may come from assuming it is one house.
My bad for not saying it was our DEALS we have in the works
I hope you get to closing. Try to make it as fast as possible. Then you know it’s a DONE deal.