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My first Real Estate deal came right on schedule after 8 months in the Triad Mastermind group. I had come close to a deal a month earlier but it fell apart at the last minute. The lead came to me through a bird dog and I almost passed it up because it was a double-wide but my coach had advised that I follow up on all leads for the practice and experience.
When I met with the seller I inspected the property with her and then sat down with her to do the cost to sell worksheet. She said more than once that I should make her an offer because she was really motivated to sell and move away.
When I got to the end of the presentation, I was advised he that the worksheet indicated that an investor might be able to offer her $33,000 on her house which she had paid $100,000 for 6 years earlier. Her response was that the offer would be OK with her because she really wanted out of the property.
When I returned 2 days later I advised her that the investors I work with approved a $30,000 offer with $3000 down at closing and seller financing via a promissory note for 10 years at 0% which she quickly agreed to. She was thrilled and thanked me over and over again and hugged me before I left.
I spent about $1000 on the rehab and the first couple to walk in to the open house 10 days after my purchase bought it for $64,900 cash. My coaches walked me through the negotiation, offer, purchase, rehab, re-marketing and sale of this flip.
It was a home run and a great way to start out my real estate investing career which is directly attributable to my Mastermind coaches and following their direction to the tee.
Chuck McConkey
Reliance Properties
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