Posted by avery hodge on September 10, 2003 at 07:01:48:
Congratulations! But I’ve been in this business for 1Year and have not found my first deal yet!!
I’ve been out there and I even have a mentor but the NYC area is a hard shell to crack!! The only reason I’m still here is because I’m fed up with my job!!! That’s how badly i want to succeeed in this business!!
Avery
Persistance BEATS Resistance…Got My 1st Deal! - Posted by Ehab
Posted by Ehab on September 09, 2003 at 21:45:30:
Once upon a time ago–2 months to be exact–I stumbled upon this idea called Creative Real Estate and became a student of the business. As was suggested in “beginner success,” I read through the posts here daily and bought a course to help fill in the gaps. Well, it finally paid off.
Thanks Ron, Jim, Terry, Eric and Heather for giving me the courage and knowledge to take the first step. It also helps that I found a realtor who was trainable and understood my need for speed. You can’t “steal” houses in slow motion.
Here’s the deal I landed:
ARV $105K - 109K
Repairs $8K
Purchase Price $66,500
This was just as challenging as winning my first World Air Hockey Championship…that’s right, I did say air hockey and that took me 8 years to accomplish.
I’m a pretty smart guy and have a knack for learning things quickly, but this just took persistance and working smart. I realize how quick or slow you do this business depends on how soon you can convince yourself that you are “ready” to take the plunge. For some it may be completing 10 books, 3 courses and talking to every investor you know to feel confident to do your first deal. For others, it may just be some basic guidance and off you go.
In any event, Napoleon Hill says, “whatever the mind of man can conceive and believe it can achieve.” Stick with it, your first deal will come.
Good Investing.
Ehab-Houston, TX
Method for finding seller ? - Posted by NJINvestor
Posted by NJINvestor on September 10, 2003 at 10:49:34:
What method did you use to find your motivated seller?
Yes. Good going guy. - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on September 10, 2003 at 24:49:32:
Ehab–(TX)-------------
Yes, we’ve been goosing you along toward doing things right and you have. Good Going, Guy!
You know the “secret” of real estate investing success and you put it right out there in your title.
You have actually succeeded in a short time. Perhaps because you are smart, maybe because you are lucky. I sometimes think I’ve done better by being lucky than smart. Although I do try to invest smart when I can.
I think you will look back in a few months and feel like “Gee, I sure did well what that first deal.” And you will deserve it. Then you will probably think “Gee, I sure have learned a lot since then.”
I commend your effort. I admire your success. I encourage you to continue to study hard.
Good InvestingRon Starr****
Thats Great Keep Up the GOOD WORK (nt) - Posted by Marc NJ
Posted by Marc NJ on September 10, 2003 at 24:03:23:
NT
Re: Persistance BEATS Resistance…1st Deal! - Posted by Brent_IL
Posted by Brent_IL on September 09, 2003 at 23:44:25:
Congratulations, Ehab. Two months is an excellent timetable. Your first deal is an inspiration to others. Good job.
WAY TO GO!!! - Posted by Jim FL
Posted by Jim FL on September 09, 2003 at 23:35:09:
Ehab,
Congrats on the deal.
Good to see you remained persistent and got the deal signed.
Just wondering, but what is your exit strategy?
The numbers are nice, so you should have a number of options open to you for profit.
Good going, and thanks for sharing.
I really enjoy hearing about peoples first deals, and seeing/reading the joy they feel.
Do yourself a favor, as you exit this deal, do not shut down your buying machine.
Keep marketing, and working on the next deal, you won’t regret it.
Take care, and again, congrats!
Jim FL