I JUST CLOSED MY FIRST DEAL !!!!!!!

Wholesaling
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I JUST CLOSED MY FIRST DEAL !!!!!!!

Dwaun Elam
Investor · Wilson, NC · Member since 2011 · 34 posts · 11 votes

I just closed on my first deal today!!! I can't believe I did it. I would like to thank all of investors on biggerpockets that helped me when I had questions. Picking up the check in the morning and then picking up my bandit signs. Gotta Keep it going. :D

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David Beard
Investor · Cincinnati, OH · Member since 2010 · 1k+ posts · 928 votes
14y

Fantastic, Dwaun, you should definitely be commended on multiple fronts:

* You did research initially that cost you NOTHING.
* When you wanted to dive a little deeper, you went to Ebay to purchase some info at pennies on the dollar.
* You figured out how to use Postlets, create a nice ad, market effectively through CL, etc.
* You didn't give up when you hit some setbacks on your deal. You kept your wits and determination, got creative, went back to the seller, pushed through. Just awesome.

I predict........ you will do well, my friend!

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  • Chris ClothierBusiness Member
    Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
    14y

    Dwaun -

    THAT IS ONE OF THE BEST POSTS I HAVE EVER READ! Way to go man - keep us informed as you keep going my man.

    Best of luck!

    Chris

    Podcast Guest on Show #224
    REI Nation4.576 Reviews
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    0Reply
  • John Jackson
    Investor · North Richland Hills, TX · Member since 2011 · 789 posts · 403 votes
    14y

    It's that first one that makes you realize you can do it...now...rinse, repeat.

    0Reply
  • Michelle M.
    Investor · Hephzibah, GA · Member since 2011 · 44 posts · 1 vote
    14y

    Congratulations Dwaun, doesn't it feel great!

    0Reply
  • Tim G.
    Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
    14y

    Congrats! Nice work! Thanks for sharing with us too!

    0Reply
  • Greg P.
    Los Angeles, CA · Member since 2009 · 717 posts · 50 votes
    14y

    Congratulations! Tell us about the deal please.

    0Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    14y
    2Reply
  • Dwaun Elam
    OP
    Investor · Wilson, NC · Member since 2011 · 34 posts · 11 votes
    14y

    I sent out some direct mail letters about a month ago and only one owner replied. Turns out he has two properties that he was looking to unload, both of these properties are historic homes in need of repairs one more than the other.

    So I get the properties under contract run some comps and start marketing. I get alot of looks but know one bites Turns out as a newbie my comps weren't as accurate as I thought. So I go back and renegotiate the contracts with the seller and start marketing again.

    A week later with more accurate comps I have a buyer he gives me a 2,000 dollar earnest money deposit signs the assignment clause and then...BANG!!! Title problems, seems the lot description was recorded improperly three different times during the last closing in 2008.

    The deal was dead in the water because no title company would touch this thing. Then my prayers were answered and the owner found the original title insurance policy. So a week later the deal was back on and we closed today.

    This has to be the greatest feeling in the world. I can't wait to do the next one. Thanks again to all those that helped me.

    1Reply
  • John Forbes
    Involved In Real Estate · Tampa, FL · Member since 2009 · 2 posts · 0 votes
    14y

    Congrats!!! when you get a chance please share the details.

    0Reply
  • David Martin
    Wholesaler · Chicago, IL · Member since 2011 · 10 posts · 3 votes
    14y

    Congratulations!

    Keep it up :)

    0Reply
  • Danny R.
    Real Estate Investor · Tampa Bay, FL · Member since 2010 · 12 posts · 2 votes
    14y

    Nicely done. Keep us posted :-)

    0Reply
  • Carl Randal
    Real Estate Agent · Huntsville, AL · Member since 2010 · 41 posts · 5 votes
    14y

    Congratulations Dwaun.....keep pushing forward!!!!

    0Reply
  • James Martin
    Property Management · Memphis, TN · Member since 2009 · 667 posts · 362 votes
    14y

    Congratulations Dwaun!

    0Reply
  • Joe Delia
    Involved In Real Estate · Rochester Hills, MI · Member since 2010 · 812 posts · 178 votes
    14y

    Congrats!!! Keep grinding!!!

    0Reply
  • Dwaun Elam
    OP
    Investor · Wilson, NC · Member since 2011 · 34 posts · 11 votes
    14y

    Picked up the check today!!!

    0Reply
  • Mike Currie
    Real Estate Investor · Columbia, MD · Member since 2011 · 24 posts · 2 votes
    14y

    Congrats Man!

    0Reply
  • Sharon Schroeder
    Residential Landlord · Covington, GA · Member since 2011 · 2 posts · 0 votes
    14y

    Congratulations! Nice to hear.. I am working on not my first deal but the first one in two years.. It's a total rehab.. Wish me luck

    0Reply
  • Dwaun Elam
    OP
    Investor · Wilson, NC · Member since 2011 · 34 posts · 11 votes
    14y

    Thanks again to everyone
    @Sharon good luck with your rehab

    0Reply
  • Philip Bourdon
    Pittsburgh, PA · Member since 2010 · 87 posts · 14 votes
    14y

    How wonderfully excited and satisfied you must be. Now, you are an inspiration to others to stay at it, think creatively and then win. You role here is forever changed. You are no longer a Newbie looking for advice; now you're someone with success and experience. Keep it up!

    0Reply
  • Danny Day
    Developer · Houston, TX · Member since 2008 · 488 posts · 121 votes
    14y

    Congrats Dwaun!

    0Reply
  • Brian K.
    Rental Property Investor · Buffalo, MN · Member since 2010 · 511 posts · 92 votes
    14y

    Congrats Dwaun, yes keeping it going and don't let the road blocks get you down. :clap:

    0Reply
  • James Vasquez
    Wholesaler · san antonio, TX · Member since 2008 · 7 posts · 0 votes
    14y

    Congrats...I just recently closed my first wholesale deal as well. Keep it going. San Antonio Homes for Sale?

    0Reply
  • Dwaun Elam
    OP
    Investor · Wilson, NC · Member since 2011 · 34 posts · 11 votes
    14y

    Congrats as well James

    0Reply
  • Heir Jordan
    Real Estate Investor · Member since 2010 · 5 posts · 2 votes
    14y

    How did you get started & what education or program did you follow outside of this forum ?

    0Reply
  • Dwaun Elam
    OP
    Investor · Wilson, NC · Member since 2011 · 34 posts · 11 votes
    14y

    @Heir Jordan

    One day I was browsing Youtube and somehow I came across a very attractive young lady named Steph Davis speaking about flipping properties. I must admit the I had to watch the videos a couple times because I didn't really grasp the content so to speak(I was kinda distracted). But anyway I just started watching videos From all the gurus' Steve Cook,Steph Davis, Marcell Umphrey Preston Ely, and some others. I also read a couple of books ordered a course off of ebay. And went out and made offers.I will probably pick up another course or two and keep the knowledge coming. Hope this helps.

    0Reply
  • Mark D.
    Architect · Los Angeles, CA · Member since 2011 · 17 posts · 3 votes
    14y

    Congrats Dwaun. Thanks for sharing the info in the last post as well. I'm just starting out and this thread is definitely an inspiration.

    0Reply
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