first two deals - Posted by Steve Bean

Real Estate Investing
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Posted by Steve Bean on February 06, 2002 at 12:42:01:

“Beginner nets $50k on first two deals”

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first two deals - Posted by Steve Bean

Posted by Steve Bean on February 06, 2002 at 11:00:26:

My first two deals have now fully funded. They were both rehabs (described in the success story section on this site). Deal #1 took three months and netted $23,000. Deal #2 took four months and netted $32,000. I purchased them at the same time and hired out 90 percent of the work. This is now my full-time job and I am now in the hunt for more deals. I’m a bit conservative so I waited to begin looking for the next deals until I had money in the bank. I certainly have appreciated all the great information available from this site - it is a wonderful resource!

Steve Bean

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Re: first two deals - Posted by Gerald-DC

Posted by Gerald-DC on February 07, 2002 at 10:42:25:

Nice work Steve. When you say your deals took 3 and 4 months, are you saying 3/4 months from time you closed the purchased to the time you closed the sale?

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Re: first two deals - Posted by dawn

Posted by dawn on February 06, 2002 at 11:29:46:

Hi Steve:

Congratulations…What is the title of the success story so that I may read…I am a newbie also.

Thanks
Dawn

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Re: first two deals - Posted by Steve Bean

Posted by Steve Bean on February 08, 2002 at 09:47:49:

I closed the purchase of each house on 10/2/01. Closed the sale of house #1 on 12/28/01 and closed the sale of house #2 on 2/5/02. I didn’t offer seller financing. Buyer #1 obtained FHA financing and buyer #2 obtained a conventional loan.