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Updated over 4 years ago on . Most recent reply

How did you find your first Deal?
This is the question I hear the most. Everyone has a story to tell and I would love to hear yours.
Once you share perhaps someone else could have an "ah-ha" moment in order to find their first deal.
Most Popular Reply

Was living in manhattan, searching FSBOs within a 3 hour radius of the city. Saw a 6 unit building in scranton pa. called the owner, asked him if he would carry paper, he said he would consider it, turns out he lived in the city too, we met for a beer that night, talked terms, drove to PA that weekend, shook hands on the deal, wrote up the note and mortgage and transferred title, hired a property manager... LEARNED A LOT. terms were sweet too. 90k purchase, 10% down, 30 year amortization, 6% interest, 24 month balloon. Property pulls in $4500 per month and the tenants pay all utilities.. he was motivated to get rid of it because he was self managing and had to move overseas to be with an ailing family member. I still laugh when i think about how it all happened and the timeline.
- Victor Steffen
- Podcast Guest on Show #790