There’s a STRONG case to be made for simply taking action. You did exactly that, and that’s exactly why you have a killer deal and most newbies frankly never will. Congrats! :beer
A little bit of education + a whole boatload of action = success
SEE this is what I like to see. So many people simply don’t do it, that complain about what does not work and don’t do a single thing. I have been showing people how to use Craigslist to find buyers for a while now, and it works. Cash buyers know how to find deals there and we know how to find their money. lol.
Congrats on taking action, and you get 5 stars for getting a 5K binder deposit :shocked
yESSS!!! i just wrapped up my closing collecting my last part of my fee which was $4,000… i tell ya Real Estate will free your mind and your bank account :beer hahahaha so much to do now that ive finally finished my first deal it was so easy when i look back at it… i feel like a pro :anon joke… i think i cracked the code to success though… im ordering some bandit signs tomorrow and taking the wifey out to dinner…
Congratulations to you. I wish you many years of success with this new found venture. Keep going and never stop. :cool
Can you recommend a good course that walks you thru step by step and gives examples of forms to use. thanks
Lol @ bafeld2010 :rolleyes
:anon
do a few searches on this site for the topics you need answer’s to…its so much free information out here try that first…then decide if you still need a course because really its all about taking the first step…this business is from what i come to find is 80% action 20% knowledge…basically because the knowledge comes from taking action… :beer
Hey REIGUY great job, your story has inspired me tremendously
Nice way to break down the 80 20. You got to love this place. :biggrin
I have to agree, that your success story is motivating for me. It would be nice to have some money for debt relief and the christmas holiday.
Did it take the full 30 days to go from contract to closing?
it actually only took about a week… im still trippin off how money basically came from thin air and into my pocket… i literally learned how to pull money out of houses that arent mine… :beer i tell ya its been crazy around my house in a great way…
You can offer full-time legwork, expertise and proficiency in locating, researching, evaluating and securing profitable investment properties. You can offer a passive income opportunity to individuals who, otherwise, do not have the time and/or experience, but want to earn the higher-than-average return that real estate affords. A partner puts up all the funds, and you do all the work. Personally, I prefer land trusts to structure partnerships. The catch is you need to convey credibility to secure a money partner. Until you have the confidence to gain the trust of those with bigger pockets than yours, hit the streets and find a few more assignable deals. Congrats on the first one!
Hey John whats up? Long time no see. :biggrin
How have things been going with ya.
That is impressive. Is this your first deal? :dance
yep my first one… working on the second now… this one is going to be around 2500 nothing big but still money in my pocket i got my fingers crossed that it will work… :crossfingers
Wow thats awesome, let me ask you this…how much knowledge did you ACTUALLY have before taking action? i know like you said yourself that 80% comes from action and 20% is knowledge but what were your “qualifications” for lack of a better word? Just curious
not that much all i knew and know is find buyers,find out what they want,get them slightly lower than what they want for them,put under contract,then assign for my fee… ofcourse i know i few more tricks now that im actively moving in real estate and still is studying the cross roads that us investors have then find the solution for like exp.(double closes,selling my LLC…and curently right now im trying to partner with one of my buyers on a deal then deed my self off after closing for seansoning issues)
I agree. If you are new in real estate, expecially in these economic times, find a mentor, someone that has experience in wholesaling, if that is what you want to do. It is easy to make costly mistakes (even if you don’t have money, possible lawsuits are not fun.) Books are not going to give you all the possible answers.
Good work! I’m just starting out myself, have a few questions for you:
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What did you post in your craigslist ads to find these investor buyers?
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How did you find this motivated seller?
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For this deal, you got a purchase contract, and then just assigned it to one of your buyers correct? So the money never actually came out of your pocket… It went from Buyer to you to seller? How long did it take from agreeing with the seller to sell to agreeing with the buyer to buy? Did you tell the seller you would need a couple days to find an assignee?
My hat offs for you THATREIGUY! As mentioned before by others, your story is truly an inspiring one for all of us, Newbies. So i guess u’ve graduated to the next level from us…lol.
80% action and 20% knowledge huh, kudos to whoever came up with the phrase/idea, very well said. cheers for sharing ur story and knowledge, and to everybody else who are sharing their knowledge and experience as well!! :beer