a bad L/O done

[DanielSun 7]

First deal done, not good at all actually but still, I guess it's better than nothing. In fact, this could have been just a straight rental, since the monthly rent is $2400, but the buyer thinks he can qualify for the house a few years down the road.

 

In the end, the Buyer had to burrow $3000, make it a total $5500 for me at paper signing.

 

My cost of advertising for this property, $80 plastic boards, $35 dollars for nails, tapes, permanent markers, wooden stakes, and a hammer, $136 for 5 days on local paper. (Gas and my time involved not included)

So material expense is about $250.

 

I have attached the copy of the checks, hopefully it shows up

Bank draft received.pdf

[pilot76180 51]

Great stuff!!!!

Your LO virginity is gone!!!

Maybe it wasn't so great....but it only gets better from here!!!!

If you could realize the hurdles you've overcome...you would realize that you have just laid the foundation for a new business!

[Propertymagnets 7]

Congratulations Daniel,

 

Your willingness to keep going regardless of any negative conversations you might have heard or created is commendable. Send some of that energy to me in British Columbia.

[DanielSun 7]

Thanks, I feel relieved than anything else.

 

 

and Michael was always willing to help. I would recommend newbies to learn from him.

 

So, hopefully I get to do a better deal soon.

[MichaelC 160]

Daniel, congratulations! I've been in and out of town and busier than I want to be, so I've been absent from the board. Don't underestimate the importance of this deal and what it means in the growth of a new business and your personal growth as an investor. $5,500 today. . .$55,000 tomorrow!

I'm assuming the $3,000 was the option consideration paid to you, while the $2,400 was the first month's rent paid to the homeowner?

Way to go, Senor Sun. I'm proud of you.

[DanielSun 7]

The $5500 was to me, they actually burrowed $3000 because I wouldn't accept just 2k.

 

So the couple has to come up with another $2400 in 2 days for the seller. They emptied out their bank account for this, and they said that they will get paid the day before they move in. I can't understand how someone who makes $10000 a month don't have any savings.

 

 

Thanks Michael, I am still looking for the deal that I can present to other people and say "Wow, look at this!"

[MichaelC 160]

. . .

Thanks Michael, I am still looking for the deal that I can present to other people and say "Wow, look at this!"

You'll have that. Rome wasn't built in a day. You're on the right track, Daniel. Stay the course, market, make offers, rinse, repeat. . .

[<Steve> 82]

Nice going Daniel! $5,500. is a good pay day considering the return of the marketing dollars spent and a bit of some hassle.

 

 

They emptied out their bank account for this, and they said that they will get paid the day before they move in. I can't understand how someone who makes $10000 a month don't have any savings.

lol, How true. When it comes down to it, it's all about behavior. Making a nice income doesn't mean your not broke.

[MichaelC 160]

Nice going Daniel! $5,500. is a good pay day considering the return of the marketing dollars spent and a bit of some hassle.

Beats the hell out of working for a living.

[<Steve> 82]

Nice going Daniel! $5,500. is a good pay day considering the return of the marketing dollars spent and a bit of some hassle.

Beats the hell out of working for a living.

Tru-Dat!