Hey Guys,

Super exciting morning today. After an awesome night at a Metallica concert I woke up to a call from my agent. My offer was accepted. The cool part about this deal is that it went on the market last month. I wrote an offer the first day and it was rejected the same day by the bank. Decided to re-write it the next day and got another rejection.

Fast forward 30 days later. Their was a price reduction. I decided to resubmit for the same amount as my last offer. This time they countered. We played the back and fourth game and today it is mine for 55K!

Hello DG Members,

I really enjoy posting in the "my deals" section because it is a chance to help other DG Members learn how we were able to find a real estate deal. The last few months have been nothing short of tremendous with real estate investing for us. We are having so much fun and enjoying doing real estate together. I see the glimmer of sunlight in the distance that is my journey’s destination to be able to leave my job and become a real estate investor 100% of my time.

I received a lead from my property manager three weeks ago on a home that was in foreclosure and has a section 8 tenant in place that has been in the home for over 20 years. I locked up the contract and assigned it to my end buyer and picked up a $5,000 check today at closing. It does feel great. This business is about building relationships and meeting people. It gets easier and easier.

3 unit multifamily home...this is LONG cause went through a lot of the ups and downs...Talks of closing this Monday, but it isn't concrete
Purchase Price
-165,000
Rents
-900
-650
-550
Mortgage including taxes
1280(I believe-right around that if I am wrong)
Insurance - 133 a month(1600 upfront for first year)

all 3 units will be rented out

rents minus mortgage = $820 per month cash flow

The first floor renter actually does maintenance stuff for the property...the 2nd floor guy will do the carpeting for free and is handy...so perfect...Don't get much better than that...

I'm still trying to purchase my first REO (the 17 yr old, 3 BR ranch that I found a couple of months ago). I entered into the contract on Aug. 7, my closing date has been extended 2 times now due to the deed still not being recorded by the County Sheriff's Dept. I'm now getting concerned about finding renters for the property due to the time of year. If I can't close until the middle of Oct. (still need to clean up the yard, paint & have capeting installed) which means it may not be until the last week in Oct. when I have it ready to rent.