Meg I’m 30-40 mi west of Chicago near Elgin.
To go through the first one was exciting, scary, humorous, disappointing and down right a rush at points! We got the bug now for sure. On the profit thing…hmmmm let’s see… 10 GRAND that’s better than any other deals I’ve done!! Good enough for me!!! But I know I’ll do better now that I’ve learned a lot from this one. Cant wait for the next one.
We are so pumped from the convention that we decided to actually do what all those Guru’s were talking about. Mostly they said “TAKE ACTION” and we did by flipping our first SF home.
There’s a success story to be sent but here’s the short version:
Bought subject to for 118K
Put 7K into it for payments and some fixup
Nasty loan cost us 5K in Prepayment penalty (which we split with Buyer)
Sold for cash in the middle of winter for 138K
Net profit is just above 10K (We’re as happy as a pig in poop!!!)
I can’t say enough about this weekend. It felt like you were hanging with a bunch of buddies that you’ve known forever. A huge Thanks to Robyn who spent tons of time with us and the people around her. Terry, Lisa and I enjoyed every minute with you. You still owe me a beer. Brian and Mark you guyz ROCK! Sam, Sherri, Heather, Tim, Jim, Monique, Mitch, John and all others we met we wish success to you guys. And for this Deal we are truely grateful to the advice from Jim_IL, Tim Jensen, Stacy(AZ), and of course JPiper. Not to mention the ideas of Joe Kaiser (Prehab article) Bill Brochick (L/O a Junker), Ron Legrand and Lonnie Scruggs. Oh and thanks to Terry and JP for this site and all the help from the guys and gals in the chat room at 12am to answer newbie questions.
Now I know what you’re all saying…“NOW GO OUT AND GET ANOTHER ONE!” OK, OK we will. Sheesh…
Congrats. You told me you were going to close on your first deal as soon as you got back from the convention. You also said that you couldn’t feel good about it until you went to closing. I glad it all worked out. Again Congrats and keep up the good work. God Bless.