Real Estate Deal Analysis & Advice

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30
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Anthony Bostic
  • Flipper/Rehabber
  • North Augusta, SC
49
Votes |
30
Posts

First Wholesale Deal Closed!

Anthony Bostic
  • Flipper/Rehabber
  • North Augusta, SC
Posted Dec 8 2014, 06:52

We finally got our first deal closed. ARV on the house was about $125K We got it under contract for $79,400 and assigned the contract for 5,600! With this being our first deal we know that it is possible and there will be more to come. I want to thank Bigger Pockets for providing the wealth of knowledge. And we already have a second house under contract! Look out Augusta here we come. My partner @Andre Elston and I are going to be on the podcast one day hopefully. LOL

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37
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7
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Veronica Paez
  • Rental Property Investor
  • Kansas City, MO
7
Votes |
37
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Veronica Paez
  • Rental Property Investor
  • Kansas City, MO
Replied Dec 22 2014, 07:41

On the 4plex I am at a standstill we and invited 3 investors reps and 2 construction groups/company and ....they have all passed i totally understand. it needs over 80-100,000 of repairs needed. the owner has thrown out a number of 150,000 Any suggestions the owner is eager and willing to negotiate..

on the homes...ready to sign and move three properties..

#1 is occupied and has a renter ready to sign, $2,000 down from rents balance due 43,000 fsbo..

#2 2 bedroom 1 bath ready to move in nice long concrete driveway, touch up paint and final clean. - what contract do i use to secure the deal and should i get this listed with a Realtor

#3 2 bedroom 1 bathroom needs lots of work cabinets, furnace stolen guy only wants - what contract do i use to secure the deal and should i list with a Realtor

Can someone send me a sample contract and how a purchase agreements is filled out for Missouri that is available in the BP File Place. I down loaded one and it has TX. How or where do i include "assignment of interest/position" clause in the agreement, so I can wholesale it to another Buyer.

are these buy ugly houses or buy house for cash good places to start

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42
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3
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Jay Luke
  • Sacramento, CA
3
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42
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Jay Luke
  • Sacramento, CA
Replied Feb 11 2015, 06:56
Originally posted by @Anthony Bostic:

We finally got our first deal closed. ARV on the house was about $125K We got it under contract for $79,400 and assigned the contract for 5,600! With this being our first deal we know that it is possible and there will be more to come. I want to thank Bigger Pockets for providing the wealth of knowledge. And we already have a second house under contract! Look out Augusta here we come. My partner @Andre Elston and I are going to be on the podcast one day hopefully. LOL

 Congrats. I just started out a couple weeks ago and your post is encouraging. Can I ask what you did to attract buyers? And long did it take to close once you got under contract? 

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42
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3
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Jay Luke
  • Sacramento, CA
3
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42
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Jay Luke
  • Sacramento, CA
Replied Feb 11 2015, 07:01
 @Anthony Bostic
*I meant attract sellers:-)

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30
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Anthony Bostic
  • Flipper/Rehabber
  • North Augusta, SC
49
Votes |
30
Posts
Anthony Bostic
  • Flipper/Rehabber
  • North Augusta, SC
Replied Feb 11 2015, 11:37

@Jay Luke Thanks man Glad to help. Our Buyer came from someone we met through our Local REIA. Get plugged in to yours and find out who buys, who holds, and who has a buyers list themselves. We had it under contract for a couple weeks before we found a buyer they closed on the property before the date on our original contract though.

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42
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3
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Jay Luke
  • Sacramento, CA
3
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42
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Jay Luke
  • Sacramento, CA
Replied Feb 11 2015, 12:54
Originally posted by @Anthony Bostic:

@Jay Luke Thanks man Glad to help. Our Buyer came from someone we met through our Local REIA. Get plugged in to yours and find out who buys, who holds, and who has a buyers list themselves. We had it under contract for a couple weeks before we found a buyer they closed on the property before the date on our original contract though.

 I'm curious on what you and your partner use for marketing for sellers? And do you get alot of traffic?

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40
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6
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Account Closed
  • Investor
6
Votes |
40
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Account Closed
  • Investor
Replied Feb 12 2015, 06:05

Haha Congrats, I'm working towards my first too!

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34
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3
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Justin Wragg
  • Real Estate Investor
  • Redondo Beach, CA
3
Votes |
34
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Justin Wragg
  • Real Estate Investor
  • Redondo Beach, CA
Replied Feb 12 2015, 10:01

Congratulations!!!
Happy for you!
Keep up the good work!

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94
Posts
12
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Amanda Keller
  • sales
  • indianapolis, IN
12
Votes |
94
Posts
Amanda Keller
  • sales
  • indianapolis, IN
Replied Sep 15 2015, 05:37
Nicccce.

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44
Posts
18
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Cory Baker
  • Real Estate Investor
  • Phoenix, AZ
18
Votes |
44
Posts
Cory Baker
  • Real Estate Investor
  • Phoenix, AZ
Replied Oct 25 2015, 22:27

Why does the Amanda Keller link bring us here?

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1
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0
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Greg Anderson
  • Wholesaler
  • Plano, TX
0
Votes |
1
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Greg Anderson
  • Wholesaler
  • Plano, TX
Replied Oct 25 2015, 23:25
Originally posted by @Anthony Bostic:

We finally got our first deal closed. ARV on the house was about $125K We got it under contract for $79,400 and assigned the contract for 5,600! With this being our first deal we know that it is possible and there will be more to come. I want to thank Bigger Pockets for providing the wealth of knowledge. And we already have a second house under contract! Look out Augusta here we come. My partner @Andre Elston and I are going to be on the podcast one day hopefully. LOL

 Super job Anthony!! Congratulations. I just got my first one under contract and looking for that buyer now. So ... did you assign it or double close it at the end? 

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57
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11
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Malik Welch
  • Augusta, GA
11
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57
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Malik Welch
  • Augusta, GA
Replied Oct 26 2015, 02:07

Awsome Job ! Hope to see you at the next REIA meeting !!

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6
Posts
0
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Alex Rector
  • Wholesaler
  • Grovetown, GA
0
Votes |
6
Posts
Alex Rector
  • Wholesaler
  • Grovetown, GA
Replied Oct 27 2015, 07:35
Originally posted by @Malik Welch:

Awsome Job ! Hope to see you at the next REIA meeting !!

 Can you send me info in regards to this?

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17
Posts
3
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Robert Gill
  • Randallstown, MD
3
Votes |
17
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Robert Gill
  • Randallstown, MD
Replied Oct 27 2015, 07:42

Congrats fellas! I'm looking forward to following in the footsteps of folks who are being successful and getting results like this one!!

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12
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2
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Louis Muse
  • Wholesaler
  • Washington, DC
2
Votes |
12
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Louis Muse
  • Wholesaler
  • Washington, DC
Replied Sep 18 2016, 18:22

congrats and much mire success

Louis