All Forum Posts by: Brian Feltz

Well, I just got off the phone with the end buyer. He is nervous and doesnt understand how an assignment agreement works. He claims he was not aware I already had a contract with the seller, which I explained to him several times in the process of trying to explain to him what an assignment of contract was. So, now he is going to talk to a lawyer to make sure it is all legit, which it is. Im not concerned about that. Im concerned about the time that it is going to take! I told him no problem, the lawyer will tell him there is nothing wrong with an assignment agreement and to proceed. I also told him there are other people interested in the property and that the first person to escrow gets the deal. I had even sent him my purchase contract yesterday and explained each part and the parts that explain my right to assign and explained the parts in the assignment agreement that states he will take my position on the contract. I guess thats the joys of selling to someone outside of the investing circles. I just wish he wouldve decided to do this yesterday. Still hoping he goes through with it once his lawyer explains to him this is not something new.

Byron K. I will share the numbers once the deal closes, I do not want to jinx anything. :)

Thank you everyone who has been following my experience! It has been a fun adventure so far. Now I just want to close this deal! Feel free to ask any questions and I will try to answer them.

Well, the buyer called me around lunch time letting me know he wasn't going to make it tho the title company before their closing time today because he had to work late, but he said he will make it tomorrow for sure. Ugh! Again, anxiously waiting for money to get into escrow! Haha!

So, I am anxiously waiting for the end buyer to deposit his nonrefundable deposit into escrow later this afternoon! :) Once I get confirmation the money is in escrow, I am one step closer to closing my first deal! Good thing I found a good Title Agent who is not annoyed by all my questions Ive been asking! I told him, I am fairly confident in my knowledge of all the other aspects of this deal but closing is something I am learning on the fly! Hahaha! Fingers crossed! Is it 4:30 yet????

Well, I put up several bandit signs yesterday morning and this morning they were all down already! Maybe I should invest in a signsledge to put them up higher. I only put them about 7' up.
So, had another walk thru this morning. The tenants must've had a party the night before! The lower unit had food and stuff still out on the tables etc... the upper tenant had liquor bottles and a tipped over chair AND... a bag of weed laying out on the coffee table! Wow! Hey, what you do in your home is your own business, so Im not judging. It just made for an awkward walk thru. Hahaha!

I had a walk thru this morning AND... I currently have a SIGNED assignment agreement! On Monday they will deposit a nonrefundable deposit into escrow to lock up the property. Super excited! But it will not be final until that money is in escrow! Well, actually close, but either way I get paid! :) I have another walk thru tomorrow morning. First person to get money into escrow gets the property!

Orlando Centeno thanks for sharing the link! That is an awesome tip and I found a handful of owners to call, I just have to find their numbers! I found numbers for 2, but one was a wrong number and the other was just a persons voicemail, but I left a message on it anyways. :) There were also 2 individuals who owned about 6-10 properties EACH all within 2 blocks of mine! I will try to track them down too. Worst case I send direct mail to them.

Curtis Daniels Your letter could just be a general letter, address it to them, but dont say I want to buy your house. Just say I buy houses etc... Or, do some door knocking. Start a few houses down and knock on those doors and let them know you buy houses and then when you get to your target house you can say you were walking the neighborhood talking letting people know you buy houses and that you are interested in this particular neighborhood. After you're done, keep going a few more houses down so they dont feel you targeted them. They will feel like it was their LUCKY day! Someone just happened to stop by in such a time of need.

Cameron Parker Congrats Cuz! I told you you could do it! Now, get that thing sold and move on to the next one!