Thank God It Finally Happened!!
I started reading the posts here last summer. I kept hoping and praying that I would someday be able to post a success story. I closed my first deal on January 26th. I received a call from a homeowner in Sept. 03. After driving them around in my car to look for apartments, helping them find a storage facility, renting a moving truck and just generally being a resource for them, they finally found a place to move. I had already received a notorized deed but I made it clear to them that I wouldn't pay any arrearages until they left the home. They knew they could no longer afford the mortgage so I took it Subject To. (I order John Locke's manual). Anyway, after rehab, real estate agent's commission, recordation fees, closing costs, and a host of other fees, I made over $53K on my very first deal. I was and still am absolutely amazed. It took a long time from my initial visit to meet the homeowners to actual closing but it was well worth it. I developed a worksheet so that I could track all of my expenses and I have revised it to include almost every cost imaginable. Since January 26th, I have closed two more deals. I closed one today and the other a week and a half ago. I made a little less on each of these deals than I did the first time, but I can not complain. I know this won't last forever so I am working really hard to find deals and make my operation as efficient as possible. I have able to keep the team of contractors I started out with on my first deal busy up until this point. I am now working on my 6th rehab. I should say 5th because I am selling one of the houses as is. Anyway, I am having an amazing run. I want to encourage you guys to never give up. Success will come. I wanted so desperately to be able to say that. Now I can. I thank God for this forum. I learned so much before I got started. I thank you all for the incredible posts and the words of encouragement. We can all do this if we continue to share and encourage each other.
Have faith. It can be done. TMinvestor
sounds like a well earned reward to me, its patience that pays off
John
Congrats!
congrats.....
Helps me fire up my networking and finding my first one.
Awesome!
I love these motivational moments, I hit the dry spell at times and it helps me to keep on going. THen next best thing to doing it yourself is hearing someone else doing it
Way to go
Love to hear those success stories.
John (LV)
Congrats! Keep up the good work!
Ryan J. Schnabel
WTG Dude!!!! As I have been repeatedly on this site, Amazed & Inspired!! Good Work!!
_________________
There are admirable potentialities in every human being. Believe in your strength and your youth. Learn to repeat endlessly to yourself, 'It all depends on me.'
Andre Gide (1869 - 1951)
PS.....you anywhere near Port Tobacco???[ Edited by CQQL on Date 03/31/2004 ]
Great Job!
[addsig]
Well Done!!!
Based on what you say, it sure beats flipping burgers!!
so what were the numbers on the deal?
i would love to know
Congratulations!!
TMinvestor, Did you have any prior RE expirence before you closed this deal? was everything you needed to close this deal included in john lockes manual? any advise you wanna give to one of your newbie brothers? Thanks!!
Congrats!!! That is much to celebrate about. I too am awaiting that day. You're an inspiration to me and despite all the naysayers ( even from those I hold quite dear), your post has given me the courage to keep pressing! Congrats again!
~Hunter 8-)
Excellent! Excellent! Are you willing to share a template of your worksheet of expenses??
Congratulations. I bid you Godsped in your future endeavors. Please keep me in prayer as I try to focus on my start.
What would you like? If you read anything that i might have to offer just ask!