2nd, 3rd, 4th, and possibly 5th deals after deal 1 success

49 Replies

A big update, after my first deal about 9 months ago, i've managed to stay busy.  About me:  got my RE license in MD after my first deal, I'm MUCH more tech savy than the 3 agents that I had experience with and better with paperwork (record keeping).  I was also on vacation for roughly a month (more on this later).

(Dec 2014) - 2nd deal- townhouse, purchased off MLS price 62k, rehab costs 38k--all cash, was going to rent this but decided to sell once I got my license (so this took a LOT longer than I expected) under contract at 146k (I'm the listing agent so i'll save some $$ here)

(Mar 2015) -3rd deal- townhouse, purchased off MLS 57k, rehab costs est 36k---all cash, should be listing likely by 7/1/15 for 152k

April 2015- Missed opportunity:  While on my 1 full month vaca to Italy/France/Greece, I received an email from a woman looking to sell her house, I obviously didn't answer the email.  3 weeks later after I return, I reply only to find out that she is under contract with one of my good friends (he will make 45k on the wholesale).... kicks myself

May 2015- 4th deal-- neighbor walked into deal 3 jobsite and said he wanted to sell his house for cash...Foreman gave him my number rest is history (its 4 doors down from deal 3), purchase price 54k, est rehab 39k---all cash, will likely sell est 150k or rent for 1450ish

June 2015, 5th deal-- found on mls...--LOC, went in 20% over asking (bank still pending on the offer) (currently residential -which i have a renter lined up at 1800/mo after I dump likely 50k in. I'll keep it as a rent for 5-10 yrs as this street has 29k cars drive down it a day and all three corners are all commercial with a flat lot (sold for 400k) on the corner across the street. So even If i bulldoze the darn place, I look at it as an instant 200k win.... could top off this year... My private investor wanted to bulldoze and put a strip mall on it... I might do that later down the road but until then... its a cash flow king and I get exclusive right to use the 3 car detached (2 story) garage as it has street access... I've been buying in BULK and my house is starting to look like a Home Depot

June 2015--- I'm getting ready to close my first (normal deal) representing a friend of a friend on a condo purchase (easiest 4.5k i've ever earned)

Learning experiences, i've been able to negotiate much much fairer prices for licensed HVAC services, I was going to go with a private lender for deal 5 but we couldn't come to terms- so I pulled out a LOC on my primary, I learned that I'll never do SOD again- leave it to the Pro's-- way too much work, I've changed electricians twice-- lowered cost by almost 1k for the same amount of work, will stick with the guy I have now for the foreseeable future. Talked to the post office mail carrier--- he has a lead on a house that his neighbor wants to sell, hoping it turns out. Talk to everyone and anyone, you never know where your next deal could come from. For all those that work a full time job to pay the bills (I feel you, RE is my part time job for nights and weekends but has quickly morphed to a full time job and i'm sleeping like 4-6 hrs a night), keep fighting!

Things I need to work on:  Possibly reaching out to find different issurers for the flips (prices seem high for the base amount of coverage), Direct Mail (still in the works, as I'm an agent now-I have rules ;/-cost of business), finding time to learn the Tax Sale (Baltimore)- if you are a wizard, i'd love to pick your mind, learning new neighborhoods, networking

@David Kosiorek

Congrats on so many deals David!  Maybe there are things you can delegate so you can free up time and get a little more rest.

Are you building a website to showcase these properties and market your company?

@daniel 

I have not yet had a moment to setup an official website, i have registered all the names on FB/Twitter/IG/Gmail for email accounts in various variations 

PS-- Deal 5 just landed today, I almost had a heart attack.  Thank god for the bank for finally giving the nod on this one!  This will help make my year.

David Kosiorek that is amazing! Congratulations!!

@Valeria Valdes  Thank you!

Originally posted by @David Kosiorek :

@daniel 

I have not yet had a moment to setup an official website, i have registered all the names on FB/Twitter/IG/Gmail for email accounts in various variations 

PS-- Deal 5 just landed today, I almost had a heart attack.  Thank god for the bank for finally giving the nod on this one!  This will help make my year.

 Congrats on your deals!! Make sure to register the domains to match the names you picked on FB/twitter etc. In my spare time I do web design, so let me know if you have any questions. Keep up the good work!

@David Kosiorek Congrats on your success! Love the idea of talking with your post office carrier, I am sure they come across potential sellers all the time!

@David Kosiorek

Congratulations!!  You've done an excellent job!  I love to hear success stories like yours.  Where were all your deals located?

Great Story David!  One question... with everyone having access to Zillow and seeing what you paid for the properties, did you have any issues negotiating with buyers?  I've heard folks grumbling about this...  Thanks Tom G

Hi-- Congrats!! I am just starting to explore this website and others and to get ideas by reading a lot and beginning to explore markets.  I have been thinking about studying to get my RE license, as I do have free time this summer- but I really don't want to sell full time- just want to learn from the inside. I recently came into a little money and want it to work for me so I can create passive incoe and get out of the rat race. What do you think are the advantages to getting a real estate license?

How did you finance your first couple of deals?

Congrats!  (I'm so jealous) ....and motivated!

WOW! You're killing it! Good job!!!

Originally posted by @David Kosiorek :

A big update, after my first deal about 9 months ago, i've managed to stay busy.  About me:  got my RE license in MD after my first deal, I'm MUCH more tech savy than the 3 agents that I had experience with and better with paperwork (record keeping).  I was also on vacation for roughly a month (more on this later).

(Dec 2014) - 2nd deal- townhouse, purchased off MLS price 62k, rehab costs 38k--all cash, was going to rent this but decided to sell once I got my license (so this took a LOT longer than I expected) under contract at 146k (I'm the listing agent so i'll save some $$ here)

(Mar 2015) -3rd deal- townhouse, purchased off MLS 57k, rehab costs est 36k---all cash, should be listing likely by 7/1/15 for 152k

April 2015- Missed opportunity:  While on my 1 full month vaca to Italy/France/Greece, I received an email from a woman looking to sell her house, I obviously didn't answer the email.  3 weeks later after I return, I reply only to find out that she is under contract with one of my good friends (he will make 45k on the wholesale).... kicks myself

May 2015- 4th deal-- neighbor walked into deal 3 jobsite and said he wanted to sell his house for cash...Foreman gave him my number rest is history (its 4 doors down from deal 3), purchase price 54k, est rehab 39k---all cash, will likely sell est 150k or rent for 1450ish

June 2015, 5th deal-- found on mls...--LOC, went in 20% over asking (bank still pending on the offer) (currently residential -which i have a renter lined up at 1800/mo after I dump likely 50k in. I'll keep it as a rent for 5-10 yrs as this street has 29k cars drive down it a day and all three corners are all commercial with a flat lot (sold for 400k) on the corner across the street. So even If i bulldoze the darn place, I look at it as an instant 200k win.... could top off this year... My private investor wanted to bulldoze and put a strip mall on it... I might do that later down the road but until then... its a cash flow king and I get exclusive right to use the 3 car detached (2 story) garage as it has street access... I've been buying in BULK and my house is starting to look like a Home Depot

June 2015--- I'm getting ready to close my first (normal deal) representing a friend of a friend on a condo purchase (easiest 4.5k i've ever earned)

Learning experiences, i've been able to negotiate much much fairer prices for licensed HVAC services, I was going to go with a private lender for deal 5 but we couldn't come to terms- so I pulled out a LOC on my primary, I learned that I'll never do SOD again- leave it to the Pro's-- way too much work, I've changed electricians twice-- lowered cost by almost 1k for the same amount of work, will stick with the guy I have now for the foreseeable future. Talked to the post office mail carrier--- he has a lead on a house that his neighbor wants to sell, hoping it turns out. Talk to everyone and anyone, you never know where your next deal could come from. For all those that work a full time job to pay the bills (I feel you, RE is my part time job for nights and weekends but has quickly morphed to a full time job and i'm sleeping like 4-6 hrs a night), keep fighting!

 Congrats, way to hit the ground running! What's SOD? 

@David Kosiorek

Congrats, way to make the plunge and dive right in.  Happy hunting for your next deals.

Great job, so motivating. Like it was already said, work on automating your workload, like your begining to do, so you can go back to the EU.

 Love the way you are working hard and all in, every update helps someone. Keep us posted

Congrats on your very inspiring success! Keep it up!

Love this! You're on a freaking roll, man. Congrats and I hope for your continued success.

awesome job, I know someone that can help with your website if interested. Let me know... And keep up the good work.

Congrats David! That is awesome.

Originally posted by @Mikisha Simms :

How did you finance your first couple of deals?

To all the disbelievers, I took out a TSP 5 yr loan... years ago but it was my first 60k. I've made a lpt more in housing than the 29% that my account has gone up.

congratulations!  super motivating success story

HI, David,

How do you find the motivated sellers? Could you share the details?

thanks

daniel

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