Finally one under contract

13 Replies

I said I was anxious to post on the "Success" forum. While it is not a complete success story yet, I finally have one under contract; after 18 offers.
It is a FNMA
ARV $130k, rehab $30k, purchase $61600. We were $15k opposite when the negotiating started. We should close around the first of the month.
Don

Congratulations. I hope your rehab number stays under budget, and that your ARV reflects a true sales price in these market conditions - because that means you'll make a tidy profit.

Great job Don,

Look forward to hearing more about your rehab as you go. I'm sure once you get this one under your built you'll be on to the next.

Originally posted by Don Hines:
I said I was anxious to post on the "Success" forum. While it is not a complete success story yet, I finally have one under contract; after 18 offers.
Don

Don,
I'm glad to see that you didn't give up, after so many of your offers were turned down.

Ray

WOW
Thanks for all of the well wishes. I am waiting on a bid from a contractor plus the closing date has not been set yet. I can't complain too much about that.... I chose the title company.
I don't have the means to do more than one project at a time; and don't even want to.
But, I think I am having offer withdrawals. I was not prepared for that. I think I have became addicted to haggeling. Is that possible?
Don

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

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.

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

Start here