1st of 3 pending wholesale deals completed!!

[Junior Salters]

Finally!! Last Thursday I closed on my first official wholesale deal!!! It's been a long time coming and honestly wasn't too bad of an experience so I've been blessed so far! I have two more properties set to close (one at the table, waiting on buyer to sign) and another closing this Friday. I'm hoping this is the start of a good thing that will help supplement my income and generate more savings to purchase my first rental property in Spring of 2014! Thank you to all the BPers (countless many) who have helped me reach this point!! @Cameron P. was a great help and was truyl an inspiration to me along with @Sharon Vornholt and @Jerry Puckett . Thank you to all those who also commented on my posts and gave me great insight!

[Junior Salters]

Thanks guys!

And sure no problem @David Ramos . As I'm sure you've heard wholesaling isn't easy, but it is simple. I started out just driving for dollars in neighborhoods that I saw were family oriented and had some houses for sale and did some added research to see that theses houses weren't just for sale, but were being purchased too. I stumbled upon the first house which seemed in fair condition minus the signs of vacancy (overgrown grass, very unkept around the sides). I took list of a few houses and sent out a direct mail marketing piece by going onto my county's tax assesor site and finding the owner. I did this back in June and got a response back from the seller's personal assistant saying that the owner was interested, but also wanted me to look at two other homes he owned in my county!!! I partnered with a more experienced local wholesaler to help me estimate the repairs and ARVs and so I saw we had something here.

I went by and looked at them, saw that they were in poor but good enough shape. The biggest thing was I knew this guy was motivated so I low balled him on the first offer for all three around 24K- being 5, 5 and 14. the house I originall wrote about was a 3/1 while the other two were 2/1s. He agreed, and I got all three under contract and went to work marketing. I did some craiglists, my REIA group and I also looked up houses in the area, owned by investors and LLCs and wrote direct mail pieces to them explaining that I had houses for purchase if they were looking to add to their portfolios. Interestingly, one of my buyers came from our local REIA group, another from craigslist and the last one came from my mailing lists!!

After that I used an investor referred closing attorney for the first two and a different one for the third just to compare businesses and the rest is the present!