Splash! 1st Deal!
Splash!
I nailed out a contract for my first preforeclosure. I spend most of my time in the marketing forum, adjusting and tweaking my marketing campaign. I used a direct mail campaign to pre-foreclosures.
There were some legal issues that had to be worked out over the past month. We were able to get the mortgage company to postphone the auction until the legal issues were cleared up. The attorney gave me the A-Ok yesterday. I signed the contract today and dropped it off at the title company. We had to negotiate the price lower in order to make it work for the 70%-repairs formula.
For the new people, just remember that rehab and renovation only makes up a small of investing. Legal issues will scare off owner occupants. They will make you money. 
Congratulations! Hopefully this one works out well for you. Then its’ on to deal number 2 for you.
: )
Feels great, huh? Congratulations!!!!
Congrats from this end as well!
How did you get to postpone the auction?
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