I got my second house under contract yesterday and have to meet with the buyer for final signing on Monday and send my second deal to title!
Congrats on #2! That was fast! What are the details on this one? Getting a bigger paycheck this time, I hope? :)
For sure I am I had more time to market it but I actually didn't even get the chance to get home and post it before it was sold. Its another small house and is going to another investor in the area as a rental.
Thank you all for the support!
That's Fantastic !!
Nice work! I always feel if they sell too easy I'm not asking enough.
A whole bunch of little deals that are quick and easy are just as good as a few bigger deals, with the added benefit of having you say that you've done X deals -- better reputation among sellers and buyers!
We all have our methods, I've shown mine seem to work.
Awesome @Cameron P. ! Great to hear! Feel free to write up the details and share when it's all finished to help others!
Cameron - Congrats on the deal! Definitely share some details so others can learn from your experiences...
Congrats this is why I prefer having buyers already in your pipeline good show. Not this "4000" buyers list many wholesalers claim they have.
@Cameron P. Great Job! Keep it going.
Thanks @Bryan K. closing is set for Wed with another assignment! Plus I get to learn the gender of the baby me and my girlfriend are expecting! WOOOWHOOO for Wed!!!!
congrats on the addition to your family
Thank you very much @Jenkins Ramon that's why I have no choice but to have success in this since I got laid off (hence why I started this)! Just got to PUSH PUSH PUSH! Success is just around the corner!
I fully understand
Congrats. Its a journey. One step at a time.
Hey @Blake C. that it sure is man and a beautiful one at that. Anyone can do it, they just got to take their first step forward!
@Cameron P. - way to go, Cameron. Good to see you having success.
Congrats!! Keep it up!
Congrats Cameron. If you don't mind me asking. You started investing before you got laid off? The banks allow you to purchase based on your investment income alone? I always wondered how that works. For instance I am in the middle of closing on my townhouse I am getting built and it will be finished mid June. I cannot do anything until closing is completed. While youre in between closings you're not supposed to put a contract on anything else. So during this time you just wait for closing so it doesn't affect score?
Also, say for instance you already have a residential mortgage, then one multi-unit you're closing on. The bank originally bases approval on projected tenant earnings but uses your income only as a qualifying test to see if you can afford the mortgage on your own and then once 100% occupancy its based on the rental income? How do banks allow you to get 1-5 deals in a year if you have 1-5 mortgages? I understand you have income coming in but how do banks judge whether you're maxed out? Or is there no limit?
Thanks Harry M. and Shelby Reed. It was PAYDAY TODAY! Woot Woot haha. Benaiah Grimes I started the day I got laid off from work by wholesaling. I never own the homes and my name never goes on the deed. What type of investments are you doing.
@Joshua Dorkin and @Brandon Turner Ok now the deals done but what should I tell details about? Im not very good at this if you cant tell lol
Hey Cameron -
The numbers and any details would be really helpful.
Sharing things like how you found the deal, how you financed it, your cost basis, your profits, and any details you'd like to share is great. There's no requirement, of course, but as much as you're willing to fill in....
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