Closing first deal

[Michael Shadow]

Well I'm one day from closing my first deal and I got a copy of the HUD settlement statement yesterday and I looked at the bottom line where it says "Cash from borrower" and all I could think was WOW!!! I was shocked by the number, I knew approximately what the number would be, I was only off by about 3%. What I was shocked by was that it was really happening, and the fact that it's a lot of money. It looks different on that sheet than it did on all my spread sheets and calculations. I started thinking about what am I doing this for and why am I doing this again and how much work I was going to have to do over the next two weeks.

So all this stuff was rolling around in my head and I'm driving home from work with nothing on the radio (I usually have a REI podcast or audio book in) just thinking about all that's going to happen and I start dwelling on the what-ifs then it dawns on me as I'm driving down the road that that number on the bottom of the statement is smaller than what most people spend on a car. After that I started feeling a lot better about everything by thinking that person in that car right there paid more for their car than I am for a duplex. That person in that SUV paid over twice what I'm paying for a duplex.

So for me the only fear (so far) was when I saw the settlement statement. I guess those numbers appeared more real to me than everything else I had run on the sheets and done. Even the checks I had written out before to get this deal to this point seemed minuscule.