Posted by John Behle on November 04, 1999 at 18:21:33:
You have to have at least a dollar into a transaction just so your calculator doesn’t blow up when you try to figure yield. Otherwise the calculator says “Error” and it would look like a bad deal.
I used to have as a matter of principle that I wouldn’t do a deal unless I walked away with 20k at closing - but I burned up too many calculators.
The $1.00 deal - Posted by Rudy de Hoyos
Posted by Rudy de Hoyos on November 04, 1999 at 15:56:33:
I purchase a 300,000.00 home for only $1.00 out of pocket using carlton sheets method of negotiation. The seller was willing to carry back the 1st TD 15 yr fixed 6.625 and carry back what would have been a down payment at 8% fixed 10 year 2nd. (unrecorded!) I had her discount what she would have paid in commissions if she were to sell on the market plus closing cost. That is how I came to purchase the home for only 265,000.00. 2850sq ft 6 bdrm 3.5 bath pool& jaccuzzi, on a cul-de-sac across from a beautiful city park. God is Great! and so is Carlton Sheets program.
Re: The $1.00 deal - Posted by kehl,MD
Posted by kehl,MD on November 12, 1999 at 14:33:57:
Rudy,
Impressive! Keep it up.
Kehl,MD
Re: The $1.00 deal - Posted by hopless eric
Posted by hopless eric on November 05, 1999 at 10:32:10:
Rudy,
Stories like yours gives me hope. I have the sheets course and have experiences as an agent and investor. I have had ZERO luck with the sheets course. I have made 15 to 20 offers to buy property zero down and have been turned down every time. Most of my rea friends say I am wasting my time. I am keeping the faith, but it is difficult. I have run into a few people on the web that claimed to be sheets students and having great success. However, after exchanging a few e mails with them, I began to question if they were for real or not. Things they said just didn’t add up for me. Anyhow, I will not let a few bad apples spoil the whole bunch. I have been looking for a sheets support group, do you know of one? This site is the closest thing I have found. I would sign up for the sheets mentoring program, but it is several thousand dollars and I can’t justify spending that kind of cash until I see some results with the basic program that cost me 200 dollars!
thanks
Re: The $1.00 deal - Posted by eric
Posted by eric on November 04, 1999 at 19:04:58:
Rudy,
What are your plans now for the house? What city did you do this in? Is it a buyer’s market there?
Re: The $1.00 deal - Posted by John Behle
Posted by John Behle on November 04, 1999 at 18:19:51:
You have to have at least a dollar into a transaction just so your calculator doesn’t blow up when you try to figure yield. Otherwise the calculator says “Error” and it would look like a bad deal.
I used to have as a matter of principle that I wouldn’t do a deal unless I walked away with 20k at closing - but I burned up too many calculators.
Re: The $1.00 deal - Posted by Joe Kaiser
Posted by Joe Kaiser on November 04, 1999 at 17:40:23:
So why the dollar?
Joe
Re: The $1.00 deal - Posted by jerry
Posted by jerry on November 05, 1999 at 11:51:19:
Hi, was browsing the internet and seen this site. I own the course and have been able to make offers with no money down. I had one guy take back a second morgage and nothing came out of my pocket. Also, I have talked one guy in rent to own, and subleasing. Not to bad. It works. Just got to find the people who are deperate. Just thought I would drop a line and let you know. Also, have a friend who has bought about 6 properities now with the course. Stay in there. Jerry!
Re: The $1.00 deal - Posted by David Alexander
Posted by David Alexander on November 05, 1999 at 11:03:46:
Eric, Start focusing on motivated sellers, you do that by finding motivating situations.
dont concentrate so much on No Money Down, that’s generally a given you starting.
Start focusing on learning new tools for you toolbox, other ways of putting deals together so that you can offer a solution to you seller.
David Alexander