Congratulations Frank. You have shown that it can work. It doesn't happen overnight, it takes a a little time and a lot of work. Also proud of you for not trying to make a 'killing' on one deal. Just keep those $5K and $10K checks rolling in, nothing like it in the world.
Thanks Mike. I am obviously trying to make money, but at the same time I want all parties involved to walk away from the table happy. They cant all be home runs, so I will take what I can get!!!
Way to go Frank - congratulations!!
Awesome to hear that you have completed 2 deals. It gets easier now that you have some experience under your belt.
Thanks Bill and Charles!! It does seem to get a little easier after that 1st deal!!!
It is great to see investors making money. Im sure you will have many interested buyers for your next deal on biggerpocket.
Way to go Frank!! Good for you! :-)
If I may, I would like to ask you the following questions:
1. How did you finance your deal?
Cash, transactional funding, or something else.
2. Did the properties need any work, and if so, did you do the work or sell as is?
3. What formula did you use to determine your offer price?
4. What kind of property was is?
REO, HUD, FSBO, etc.
1. I did not have to finance the deal because I just assigned the contract.
2. They both were fixer uppers and I assigned them as-is.
3. I dont really have a set formula. I just asked what the owner was looking to get and made it a win/win/win situation.
4. I got the leads from bandit signs, so they were deals that were not on the market.
And thanks everyone for the congrats.!!
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