Posted by Blane (MI) on February 05, 2001 at 20:24:29:
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First Deal - Posted by Walker (Central Cal)
Posted by Walker (Central Cal) on February 05, 2001 at 16:51:53:
A big “thank you” to everyone who posts here and to Lonnie of course.
I just finished my first deal. Here it is…
1970 2/1 They were asking $4500. I told them that was more than I could spend and that I couldn’t make any profit at that price. They called me 2 weeks later and offered to sell for $3000. I gave the same reply.
2 days later I noticed they had an ad in the paper for $3000. I decided I’d better move fast or I might lose this one. I got together with them and gave them a choice of 2 different offers.
- $1500 cash or
- $2000, ($1000 at settlment and $100 per month for 10 months at 0%). They took the $2000.
I spent $60 on carpet cleaning and $200 on taxes and title.
I sold it 3 weeks later for $6500.
$1000 down($500 at settlement, 2 monthly payments of $200 and 1 payment of $100)
Financed $5500. $195 per month at 13.3% interest for 34 months.
Yield? GOOD ENOUGH!!
Walker (Central Cal)
Outstanding! (nt) - Posted by JHyre in Ohio
Posted by JHyre in Ohio on February 06, 2001 at 07:07:05:
nt
Way to go - Congratulations. (nt) - Posted by Jacque - WA
Posted by Jacque - WA on February 05, 2001 at 22:04:24:
Congratulations, good deal.