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Updated almost 2 years ago, 12/28/2022
GOT MY FIRST CONTRACT SIGNED!!
Hello all,
I'm so excited. I talked to a seller on Tuesday Nov 29th, went on the appt Thursday Dec 1st and got the contract signed this morning Monday Dec 5th!! I am overjoyed! I'm currently looking for a buyer which shouldn't be a problem because the home is boarded up and definitely needs some TLC. This is the first of many contracts to be signed and I contribute some of my success to the BP forums. All the criticism both good and bad have helped me be a better investor. Thank you!
Wow! Amazing news Tenetrice. All the best on your future endeavors!
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
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#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Congrats, let me know if you need help finding a buyer
Congrats Tenetrice!
So I wholesale 2-4 properties a month.
Advice that I always give newbies is to JV with someone. Have a local dispo house like Keyglee help find you a buyer. It's going to increase your chance of closing the deal.
Sure, you'll give up half a deal. But it increases your chances that you find a buyer at a higher price and actually closing. Things just pop up during the transaction coordinating phase of the deal.
Worth it while you're learning. Learning on your first deal or so is much more important than how much you make. Trust me! But also.. If you don't JV with someone and you don't find a buyer then you'll learn that you should JV withsomeone. Eitherway you learn!
Good luck out there!
- Rental Property Investor
- Boston, Massachusetts (MA)
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@Tenetrice Johnson you wrote looking for a buyer "shouldn't be a problem because the home is boarded up and definitely needs some TLC" Did you mean that? I would think that restricts your buyers pool a bit?
Quote from @Jonathan R McLaughlin:
@Tenetrice Johnson you wrote looking for a buyer "shouldn't be a problem because the home is boarded up and definitely needs some TLC" Did you mean that? I would think that restricts your buyers pool a bit?
Hi Jonathan. In my area, buyers want homes that are boarded up and need TLC, that way they can buy it cheap, fix it up and still get a great return after the home has sold. If you have any buyers looking for these type of homes or lots in Texas, let me know!
Quote from @Tenetrice Johnson:
Hello all,
I'm so excited. I talked to a seller on Tuesday Nov 29th, went on the appt Thursday Dec 1st and got the contract signed this morning Monday Dec 5th!! I am overjoyed! I'm currently looking for a buyer which shouldn't be a problem because the home is boarded up and definitely needs some TLC. This is the first of many contracts to be signed and I contribute some of my success to the BP forums. All the criticism both good and bad have helped me be a better investor. Thank you!
What are the numbers?
Quote from @Jonathan R McLaughlin:
@Tenetrice Johnson you wrote looking for a buyer "shouldn't be a problem because the home is boarded up and definitely needs some TLC" Did you mean that? I would think that restricts your buyers pool a bit?
No, investors want distressed properties. Now her post tells us all nothing, zero info. We have no idea what she paid, how much reno is needed nor the ARV, So none of us can say great job or not as we do not have any info, just that its board up.
Quote from @Tenetrice Johnson:
Quote from @Jonathan R McLaughlin:
@Tenetrice Johnson you wrote looking for a buyer "shouldn't be a problem because the home is boarded up and definitely needs some TLC" Did you mean that? I would think that restricts your buyers pool a bit?
Hi Jonathan. In my area, buyers want homes that are boarded up and need TLC, that way they can buy it cheap, fix it up and still get a great return after the home has sold. If you have any buyers looking for these type of homes or lots in Texas, let me know!
WHAT are the numbers ?
Quote from @Adam Upchurch:
Congrats Tenetrice!
So I wholesale 2-4 properties a month.
Advice that I always give newbies is to JV with someone. Have a local dispo house like Keyglee help find you a buyer. It's going to increase your chance of closing the deal.
Sure, you'll give up half a deal. But it increases your chances that you find a buyer at a higher price and actually closing. Things just pop up during the transaction coordinating phase of the deal.
Worth it while you're learning. Learning on your first deal or so is much more important than how much you make. Trust me! But also.. If you don't JV with someone and you don't find a buyer then you'll learn that you should JV withsomeone. Eitherway you learn!
Good luck out there!
Hi Adam. That is very good advice, I am currently doing a JV with someone now and it's the best decision I could have made (being that it's my first potential deal). When I first started wholesaling, I said "I'm NOT giving up half of my fee, I can do it myself", I quickly changed my mind after I got my contract signed because I had no clue what to do. If I don't find a buyer soon, I will definitely reach out to Keyglee, I've heard so many good things about the company. Thank you for the advice, this is why I love the forums. Do you only wholesale in Georgia?
Quote from @Bob Stevens:
Quote from @Jonathan R McLaughlin:
@Tenetrice Johnson you wrote looking for a buyer "shouldn't be a problem because the home is boarded up and definitely needs some TLC" Did you mean that? I would think that restricts your buyers pool a bit?
No, investors want distressed properties. Now her post tells us all nothing, zero info. We have no idea what she paid, how much reno is needed nor the ARV, So none of us can say great job or not as we do not have any info, just that its board up.
Hi Bob, I hope you're having a good day. When I posted this I was just excited that I got my first contract signed. The BP forums have helped me become more confident because of the positive and negative feedback I received on my previous posts and other posts here in the forums. I did not post numbers because I wasn't trying to market the property I just wanted to share my victory because I'm sure there are others who are trying to get their first contract signed and/or pick up the phone to call these type of sellers. Hopefully this clears up my intention with the original post. Thank you for reading.
Quote from @Tenetrice Johnson:
Quote from @Bob Stevens:
Quote from @Jonathan R McLaughlin:
@Tenetrice Johnson you wrote looking for a buyer "shouldn't be a problem because the home is boarded up and definitely needs some TLC" Did you mean that? I would think that restricts your buyers pool a bit?
No, investors want distressed properties. Now her post tells us all nothing, zero info. We have no idea what she paid, how much reno is needed nor the ARV, So none of us can say great job or not as we do not have any info, just that its board up.
Hi Bob, I hope you're having a good day. When I posted this I was just excited that I got my first contract signed. The BP forums have helped me become more confident because of the positive and negative feedback I received on my previous posts and other posts here in the forums. I did not post numbers because I wasn't trying to market the property I just wanted to share my victory because I'm sure there are others who are trying to get their first contract signed and/or pick up the phone to call these type of sellers. Hopefully this clears up my intention with the original post. Thank you for reading.
ITS OK, I am not interested in buying, I just want to ( as I am sure others do as well ) say congrats but we do not know if we should, we have no idea if it's a good deal or not. We want to make sure you did not make a mistake, Also, you are saying it should sell fast as its boarded up, well how do you know? What are the numbers?
Hey @Tenetrice Johnson - congrats on your progress, I remember your earlier posts!
I don't think you should have any problems with finding a buyer if the deal has enough meat on the bones :)
If you are having trouble finding a buyer, my first recommendation would be to attend a few real estate meetups and let people know you have a deal on hand that you need to offload. RE events are often frequented by buyers, lenders, private money, etc. and everyone's looking for a deal.
- Mohammed Rahman
- [email protected]
- 929-349-8042
Quote from @Tenetrice Johnson:
Hello all,
I'm so excited. I talked to a seller on Tuesday Nov 29th, went on the appt Thursday Dec 1st and got the contract signed this morning Monday Dec 5th!! I am overjoyed! I'm currently looking for a buyer which shouldn't be a problem because the home is boarded up and definitely needs some TLC. This is the first of many contracts to be signed and I contribute some of my success to the BP forums. All the criticism both good and bad have helped me be a better investor. Thank you!
Congratulations on getting that deal Tenetrice. Your first deal will usually be your worst deal since you're still learning the ropes but it will get better. Reach out whenever you need help. I wish you the best results on your real estate journey!
@Tenetrice Johnson That's great! Congrats...!!
Congratulations!
Amazing @Tenetrice Johnson! I love seeing a post like this and your professional responses to some push back too! I think you’ll have bright times ahead of you. You’re taking massive imperfect action and that’s more than so many can say. Keep grinding, keep humble, keep learning, and you’ll go far!
@Tenetrice Johnson
Congratulations, I’m an agent and investor in the area. If I can help with anything let me know.
Congrats! This is a huge accomplishment. As a new agent myself I can feel your excitement. Seems like you have been working really hard to get this first one!
Quote from @Mohammed Rahman:
Hey @Tenetrice Johnson - congrats on your progress, I remember your earlier posts!
I don't think you should have any problems with finding a buyer if the deal has enough meat on the bones :)
If you are having trouble finding a buyer, my first recommendation would be to attend a few real estate meetups and let people know you have a deal on hand that you need to offload. RE events are often frequented by buyers, lenders, private money, etc. and everyone's looking for a deal.
Hi Mohammed! Thank you!! I agree, the meetups are great for finding a buyer and everyone is always looking for a deal.
Quote from @Steven Foster Wilson:
Quote from @Tenetrice Johnson:
Hello all,
I'm so excited. I talked to a seller on Tuesday Nov 29th, went on the appt Thursday Dec 1st and got the contract signed this morning Monday Dec 5th!! I am overjoyed! I'm currently looking for a buyer which shouldn't be a problem because the home is boarded up and definitely needs some TLC. This is the first of many contracts to be signed and I contribute some of my success to the BP forums. All the criticism both good and bad have helped me be a better investor. Thank you!
Congratulations on getting that deal Tenetrice. Your first deal will usually be your worst deal since you're still learning the ropes but it will get better. Reach out whenever you need help. I wish you the best results on your real estate journey!
Thank you Steven, I appreciate it. I keep hearing that about the first deal - even from the most experienced wholesalers so I know it's true. I'm ready for it, the whole experience, good and bad! If I ever need assistance I will definitely reach out :)
Quote from @Christopher Mooney:
Amazing @Tenetrice Johnson! I love seeing a post like this and your professional responses to some push back too! I think you’ll have bright times ahead of you. You’re taking massive imperfect action and that’s more than so many can say. Keep grinding, keep humble, keep learning, and you’ll go far!
Thank you! Thank you!! I've been told when people give you pushback to never take it personal. It's no different than getting pushback from sellers/buyers, you learn to adapt, and that's what I'm doing, adapting. I appreciate the kind words, thank you again.
@Tenetrice Johnson Way to go! Congrats!
- Sarita Scherpereel
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- 773-456-4644
