First 5 Calls, 3 Are Free And Clear!
Hi, i find this interesting. Im just starting out and i put my signs out and within 3 days i probably had a total of about 15 calls. In one day, 3 out of 5 calls people owned their house free and clear. One lady i structured a deal with and this is how it went. Women owns house free and clear, shes got 3,500 in back taxes, house is a 3200 sqft 2 family, she was asking 80k the FMV it about 170k. there are tenants in one half paying 650 per month, i offer her a promissory note of 70k when i sell the house and i also give her 350 per month until i sell the house. so now im actually profiting 300 per month becasue of her tenants, with no mortgage to pay. she signed a memorandom of agreement and i call the lawyer today. I will try and sell as quickly as possible. This real estate thing really works!!!Thanks Creative investor and John Locke P.S. Not to mention the 2 meeting with people that i have in 2 days who desparetly want out.
Congrats, Its a great feeling walking out of a closing with a check with your name on it. Good luck with the attorney, and the two other meetings you have!!
why to go!........kenmax
I-N-H
So is your out of pocket expense for her the $3,500 back taxes?
Marv
I_Need_Help,
You are certainly welcome, so this real estate thing really works.
I think it works to as long as the person doing it does too. There are plenty more deals out there, so keep rolling.
John $Cash$ Locke
yes you are correct, my out of the pocket expenses are 3500.00 but also some lawyer fee's etc. so i would say more like 4000.00.. thanks Ryan
You do realize, of course, that at this rate your username is going to be utterly obsolete by year's end!
Ryan,
Thank you for sharing. and you helped out someone that wanted out. many more to you.
Happy investing,
Marv
thanks guys. yeah i know my screen is the only thing that need help now. i will keep you guys posted and if a 19 year old can do it, anybody can. good luck, Ryan
what signs did you put out to have people call you?
"We Buy Houses
860-822-8172
Fa$t Ca$h"
I_Need_Help,
I vote we change your name to I_Give_$_And_Help -if the Cash man doesn't mind.
Thanks,
OnTheWater :-D
that fine with me ..lol...wait..why do i give me $??ha[ Edited by I_Need_Help on Date 08/18/2004 ]
Love to see it. I'm 19 as well, and a real estate agent. My partner and I are negotiating our first subj-2 deal today. I will order Lockes book but it will not get here before we negotiate our first deal. I just need forms that need to be signed. I will only be taking a cut of the subj-2 but it is none of my money or negotiations. Just me doing the paperwork and bringing the know-how to the table.
Hi, I had a question for I_Need_Help:
It is so awesome that you are 19!!!!! That is very inspiring, I am 19 also and doing research/educating myself on REI. Do you have any advice about starting, out? And also where did you put these signs at?? In the paper??? On the street???
Awesome job Ryan! You went in motion. Now stay in motion. If only I had started this when I was 19. -- Unbelievable!
19! Great job man. I really need to get going......... You youngsters are out there making things happen. I definitely need to hurry up. Shoot, it won' t be long until i' m 22..lol
This business is amazing!
I_need_help,
Congrats.
I am kind of starting myself.
Was it basically buying a house with 3500, giving a note of 70K, 350/mo, plus closing cost? How did you convince your seller to take the note, what were some hudles you had to cross during negociation?
Again more success to you and other members!
[ Edited by jamesCA on Date 09/09/2004 ]
hey guys, This is "I_Need_Help" well the first thing i did was set up my LLC hence the names JBR_Consultants. okay well im going to try to answer some questions as i havnt been on here in a little while. Ive been in the short sale forum
because im negotiating two more deal that are almost http://www.closed.lol. OKay Hybrid. yes i put the signs EVERYWHERE. you know what? i put them in so many places that ive been threatened about being arrested about 5 times already. i have had 3 different towns call me and yelling at me and even the STATE of CT!...lol...becasue i put them everywhere, i have had over 40 calls since i started (a month ago) 3 deals going on at this time. i cant wait to order my new signs with a prepaid cell phone number on them so I cant be traced 
. (because i am a criminal)also the advice that i would give other 19-25 year olds is just have the confidence and do it. you know what? ill be honest with you guys. i dont do much of anything. i play golf EVERY single day and watch tv and stuff. i do about 10 min. of actual work per day. sad but true. i need to get my butt in gear though. i will be honest with you though. i have had a few people not return my calls and whatnot after seeing me and realizing im so young. these first deals are hard but as soon as they are done i will have them under my belt and its all over form there. ..okay sorry for going on and on but let me explain the 70k promissory note deal. currently i have already found a buyer and still have not recorded the deed. I signed the sale purchase agreement found a buyer for 100k and i now have a closing set up for a double closing in a couple weeks where i will make 30k for not doing anything. well i did a little bit i guess. i had to put up signs and make a few phone calls and even make a flyer in order to sell it. and that is about it. sorry for the long response and if you have any questions please write and i will get back. thanks, Ryan[ Edited by JBR_Consultants on Date 09/11/2004 ]
Congratulations! It's great to hear about someone's success story. I'm so happy for you!
Are you dealing with the sellers completely on your own, or are you partnering with someone?
Must be nice to have time to play golf! It would be nice to get out of my cubicle. Perhaps this will help me FINALLY just DO this!
This question is for the investor formerly known as "I Need Help?"
Q: How many signs were you able to buy for $350?
100 signs and stakes. www.webuyhousessigns.com i believe . they have the best prices