Posted by Ron F on January 26, 2004 at 11:09:46:
I’m in Ohio - Cincinnati area
Oh what a feeling!!! - Posted by Ron F
Posted by Ron F on January 23, 2004 at 21:40:14:
I’m in the club! Just sold my first lonnie deal. Bought for $3300 Jan 2, sold for $8400 @12% interest for 3 years! Everything went just like the book said. Even had another offer after home was under contract for $9400! Guess I was a little too low on my asking price.
Got downpayment and all signatures today. Tomorrow I get the insurance binder and hand over the keys.
Only got $500 down, but note written with $2000 payment in March (tax refund). A little shaky if she renegs, but she seems OK and credit report fine. If she doesn’t make the march balloon, ROI drops from 200% to 75%. GOOD ENUFF!!!
Lessons learned from deal #1
3 bedrooms definitely more popular than 2. Still haven’t sold the 2 bedroom I picked up.
Get in good with PM. She’s already feeding me abandoned trailers to look at and helping out with showings.
Advertise in local paper. Pennysavers, etc just don’t bring in the volume of calls that a “real” paper does.
Just do it! Get out there and make it happen. The deals are waiting.
Don’t listen to the naysers. Tons of people will tell you why this won’t work. I take great joy in proving them wrong!
Thanks
Ron
Re: Oh what a feeling!!! - Posted by David Lim
Posted by David Lim on January 24, 2004 at 02:18:35:
Congratulations. Your story is an insperation to new guys like me. What state are you in?