I have to say ( and no offense intended to Josh), that this forum is a big disappointment to me. Dosen't anybody have a success to announce?
I have been chasing REO's and am finding that the banks are hoarding them for some reason. I need to hear about what is working People.
Come On with it!!!
No offense taken, Don. That said, I'm confused why you think BiggerPockets is a big disappointment because you're not having success with the banks? How are the two connected?
I read that as Don being disappointed with the "Success Stories" forum, and not all of the forums ...
Aha . . . makes sense, Steve. That makes two of us, actually.
I have been waiting to share the success of my first commercial purchase, but it is not final yet.
But come to think about it success takes on many forms. There are many milestones along the way as we build a real estate career. There are new contacts that enhance our ability to be more successful. There are transactions that create win-win scenarios that leave everyone feeling successful. Completing an outstanding instruction program or mentorship that enhances ones ability to be successful.
The more I think about it, there are many more events that I could share and many others could share.
Don thanks for reminding us to review where we are at and look at the successes we have and how they might encourage others as well.
Steve nailed my intent with this topic. I have been making about three offers a week for the last few weeks.
When I hit on one, I will be a big blabber mouth on this forum.
Here ya go. My partner and I got busy sending out direct mail to absentee owners, about 2,000 or so pieces in a month. We got a call from a lady that lived in Gainesville that owned a house here in Tampa free & clear. It was her and her hubby's first house, and they had to move to Gainesville so her in laws rented from them for 15 years. The mother in law passed away and the father in law had to go into a nursing home. The owner said the house was in need of repairs and they were too busy to do them and meet people to show the house. You get the idea, they wanted to be done with it. Any way the house 2 doors down all shined up & pretty sold 2 months ago for $237K and it was smaller than ours. Let's say market is $235K to $245K. The owner wanted $130K cash, I offered $120K cash and got the contract. I had 3 rehabbers wanting the deal for $135K, sold it for $139K all cash quick close to a rehabber on my buyer's list.
I used to love to read success stories in forums when I was first starting out. I'll bet others do too. A word of advice if you don't mind. Increase your offers to 10 good ones a week. Find out who the top REO agents are using to close their deals with and put money in escrow with that company. Then tell the agent you have money in escrow with their title co. Tell the agent to call you when his/her next deal falls through and you'll see if you can help out.
It's worth a try.
Hope this helps...
Congratulations on a fantastic deal, Joe!
Regarding success stories...got one cookin' - will post more info in a couple of weeks when it is done.
Congrats Joe, and thanks for the escrow tip!!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing