Just wondering how long did it take you guys to close your first deal?
Mine took an entire year. At first the sellers wer trying to keep it, they started cleaning it up. I sent a few letters and made a few phone calls with no replies, 4 months later after returning from vacation I placed ads on Craigs List I buy houses and the owners called and said they lost my number but seen my ad on CL.
Luckily for me, The city code enforcement was threatening to condemn it. Which got the sellers motivated.
I Found a buyer and we went to Escrow and found out they had to do probate which took 6 months.
It finally closed, about 1 year since my bird dog had found it. We split $15,500
Luckily I had also done some Lease Options and sub to deals.
It took about three months for me. After about a month and a half after starting, I met my mentor. He showed me the ropes and let me know what to look for and how to talk to and negotiate with sellers and close the deals.
It wasn’t hard for me to market and find the sellers since I’m an Online Marketer. I just needed the other half of the pie to have a complete one. It felt like forever. But 3 months was what it took! :beer
Ive been dabbling for years in this stuff without completing a deal. First one I completed was from a call on my craigslist ad. Went and looked at it, talked for an hr, signed an option, put the ad on craigslist for it and had it sold to the first looker for 5k more. Total time in the deal, about 2 hrs over 2 days. They called me up and said, I wont take any less than 30k for it, so knowing the area, I was there in 10 minutes, I dont think Ill ever find another deal that was that easy and quick. Should have asked for more but, Im broke lol, 5k is alot to me right now…
My first deal, and I’m in NJ, took about 3 months to complete after I put my head into making it happen.
I got a call from a seller on 9/21/2009 and closed on 12/31/2009 for a $30k profit.
It went smoothly because after finding the seller and my buyer and negotiating all the particulars, I reached out to a Mentor to help me steer through all the red tape the lawyers create in NJ.
I’ve done 7 more deals since then, but I have to stay active and not let myself stray too much. Whenever I take action and keep my marketing going, I always end up with a deal.
Good Luck. Dave