I DID IT !!!!!!!!!!!! - Posted by Rita NH

Posted by Rita NH on February 08, 2002 at 20:47:43:

oops I replied to the email, before I came here

I DID IT !!! - Posted by Rita NH

Posted by Rita NH on February 06, 2002 at 23:35:37:

I am a newbie …
MY FIRST WAS A FLIP!!! I know I could have done better money wise… but I did it !!! I am still pinching myself hehe
OK you guys I am really motivated now !!!
Thanks to all for your posts that I am learning by and Bronchicks course !

Re: I DID IT !!! - Posted by Stew(NE)

Posted by Stew(NE) on February 07, 2002 at 21:57:38:

What guts!!! You inspire us all. Way to hang tough with your numbers. I am sure it was tempting to offer more to close the deal.

Send in a Success Storie! - Posted by TC

Posted by TC on February 07, 2002 at 21:24:05:

Congrats to ya Rita.I did my first a few years ago and my way of giving back a little was to write a success storie to have posted here. (Acually two different success stories)
If you could do the same,just maybe it could give another newbie the inspration to do the same.

Way To Go!


Congrats - Posted by Tarun_MD

Posted by Tarun_MD on February 07, 2002 at 17:08:08:

I know exactly how you feel. Good job on that flip.


Re: I DID IT !!! - Posted by Rita NH

Posted by Rita NH on February 07, 2002 at 16:20:57:

The 1700sq ft 3/2 house was a rental, owners lived out of state, renters stopped paying, house is now empty and trashed, and the owners don?t want the hassle anymore. (THEY WERE REALLY MOTIVATED!!!) They were given one of my business cards by a relative in Nashua.
(Handing out business cards everywhere I go is the only advertising I have done so far)

The house was in a nice neighborhood, it was the worst in the area. Comps were $190,000.00.
My numbers were 142,500.00 minus repairs (which I was sure I really overestimated) $40,000 = $102,500.00 ??. They accepted 90,000.00 if we could close this week, as they had to go back home?. So the contract was signed for 90,000.00 I used Bronchicks form I could assign it which was my intention on this deal. I also my clause for if I couldn?t find someone to assign/sell it to. I called some phone numbers of other investors that I had seen in the newspapers over the previous months, Finally spoke to one who answered the phone ?. He was very interested, and went out to look at the property with me, he had his rehabber/contractor with him who estimated about $29,000.00 for repairs (told you I had overestimated hehe. But better than under estimating!)
The next day after he re-checked everything he called and said we had a deal. I would get $5,000.00 for what seemed like such little work. He also mentioned that it could be sold for more than the 190,000.00 after rehab. (But that?s good this is a learning experience ) The contract was assigned , and they closed yesterday, and my check is good !!
I am not really sure if I followed the right steps, I was so nervous I thought my brain was on vacation! I am still pinching myself :slight_smile:

Please if there are any Pro?s out there, who would like to comment on what you would have done different as I said I am a newbie and learning This was my first deal. Just be gentle :slight_smile:

Re: I DID IT !!! - Posted by Andy M

Posted by Andy M on February 07, 2002 at 15:20:39:

WAY TO GO!!! I hope my first goes as well as yours.

Awesome! - Posted by Thundercrac

Posted by Thundercrac on February 07, 2002 at 08:57:51:

Way to go! Can you tell us how you found the deal? How you financed it? How long it took from start to finish? Thanks!

CONGRADULATIONS!!! - Posted by Phamtastic

Posted by Phamtastic on February 06, 2002 at 23:46:45:


Congradulations!!! Go celebrate and enjoy it.

Best of luck for continued success!


Re: I DID IT !!! - Posted by ETalbert

Posted by ETalbert on February 06, 2002 at 23:38:38:

I’m about to do my first flip (read post below by me)
Could you elaborate on what you did?
Thanks in advance and again, congratulations.

Re: I DID IT !!! - Posted by Rita_NH

Posted by Rita_NH on February 07, 2002 at 23:18:52:

Maybe it does pay sometimes to not know what your doing … They were truely motivated and my overestimating helped a lot lol

How else - Posted by Faith

Posted by Faith on February 08, 2002 at 16:10:27:

How did you get funding to do the deal. I am totally new to this so I have no clue. Could you explain a little further?