My brother and I have been so pumped up from the M.O.M in Ft Wayne! So pumped up that I decided that I was going to go out and do another Lonnie Deal (My Second One). I just got one under contract tonight at 9pm
Big Deck, Big open kitchen…really nice compared to my first deal.
She was asking $4,000. I walked through it and did my best to point out the problems with it. I asked her what she would take for an all cash offer now, she said 4,000. I then explained that I was a wholesale buyer and that with all the time and effort, lot rent, etc…then asked her the magic question “is that the best you can do”…to which she replied well, I have to pay for some tuition so how about $2,500…blah blah blah…I got it for
$2,000 + she pays for October lot rent (her daughter is moving out in a week). Gave her a $100 deposit and plan to start marketing on craigslist for a buyer. I really need to have my contract, note, security agreement reviewed by an attorney.
I plan on selling for around $9k, 230/month, etc.
I will say that it really helped to talk with and meet actual other people who were doing deals like John Hyre and the boys from Michigan. Sometimes it feels like you are the lone wolf out there and it is nice to see other people who have succeeded!
So even though I still dont have Hyres contracts, I did a deal!
My advice is get to a MOM as soon as you can…and G.O.T.C!!!
John - IA