I have to say that im excited to have finished my first full transaction thanks to all of you.
I made up my own signs yellow paper and black ink. For about one month i kept putting them out. My first call was from the sign police telling me i couldnt do that. My second call was from a seller who i bought the property with no $ down gave it some TLC and now its pos cash flow. And the best part of it is that i got two extra lots with the deal that i now own free and clear. I have a seller for them and will soon be pos cash flow from them as well. I love Real Estate.
Not a question here just want to say thanks. REICLUB.
Congrats! That’s very exciting.
Would you mind providing some more details? Especially for those of us just starting out looking for the inspiration and ideas.
What kind of property?
What are you doing with it?
What did your signs say?
How did you work out the deal?
The hard part was the bandit signs. Getting past the what if i get in trouble part was killing me. Glad i did. The signs were simple, Sell or Lease Your Home Today with my # at the bottom. With dollar store material. Nice easy and basic.
The home is a two bed one bath that was showing wear from the owner living there for 10 years. Paint, flooring and a redone shower stall totalling $1,000 of my money and time to do do it myself priceless. My pmts are $350.00 PITI to the seller and i rent it for $650.00 will sell in two years as my exit plan.
I told the seller to take what he wanted and i would deal with the rest to make it easy for him to make his move to Michigan. Now looking for another one or two.
Obviously this seller contacted you through your signs.
How did you handle the deal? Was he struggling, trying to get out or did you present something to him that seemed profitable?
The best lesson for other new investors is: SOLVE THE SELLER’S PROBLEMS FOR HIM AND YOU HAVE A DEAL.
You let the seller leave his extra junk for you to clean up. You figured out how to get him to where he was going. Now he will get a monthly payment from you. The seller is happy. Way to go!
Yes Furnishdowner is exactly right. I solved the sellers problem. When i talk to all sellers i have to listen to why they are selling. Problem solving is a huge key to getting deals done as an investor. I cant solve all the problems but the ones i can i proceed with my offer. Im proud of this deal but still learning from this site and looking for my next one.