Updated over 11 years ago on . Most recent reply
First deal closed this morning!
Alright guys I wanted to share with you about our first deal! We used @Jerry Puckett and did a mail drop of 1k yellow letters to high equity home owners. Given the fact that my business partner and I both work full time and work had been slower I will admit some of the cost for our leads went onto a credit card. We dropped 667 pieces and had enough calls and leads that we had to hold off because we didn't want to get overwhelmed. We had a seller contact us stating that she had a property she needed to sell. After speaking with her we find out that the property is owned free and clear and costing her 700.00 a month just sitting there. She was a widow and her mortgage just doubled. (didn't know husband did an interest only) We were pre approved with our HML and could buy the property out right if we couldn't wholesale it. We had listed the property on CL and within 2 weeks it was sold to an all cash investor looking to flip the property. We set up closing and everything went smooth as butter. We utilized the purchase and sale contracts found in the fileplace. I can honestly say that if it weren't for BP we wouldn't have accomplished this deal.
Everyone says to take action so that is what we did. It feels absolutely wonderful knowing how the process works and how to accomplish a deal from start to finish. We bought the property for $18,500.00 and sold it for 30k with end buyer covering closing costs. How did we do for our first deal and 3 weeks worth of time? No more marketing money coming out of our pockets!
We dropped the last 300 from our batch and have had 12 calls already this week.
Disclaimer****I will caution though that from my understanding it's not normal to necessarily get a deal on your first drop. So I wouldn't recommend putting yourself in debt if you can't afford the cost of leads.
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that is downright awesome stuff to hear Ryan. this might sound weird but I am very proud of you. I love to hear stories like this and it makes me hopeful and excited.
you did what so many can't - you took action. way to go buddy! keep it coming
As Alec Baldwin's character in Glen Garry Glen Rose said, "Always Be Closing."
"Coffee's for closers' is another good one :)