Posted by Jim-WI on March 20, 1999 at 21:48:17:
Congratulations on your success!
I FINALLY DID IT Sorry about the caps 
- Posted by Derek Scott
Posted by Derek Scott on March 20, 1999 at 20:54:38:
I finally did it! I got both of the homes I had under contract leased out today! Lemme tell you about them…But first shouts out… I’d like to thank Scott in AK for all the excellent advice, Hooah!! Secondly I’d like to thank Sandy in Fl for the encouragement to keep my head up a tenant/buyer is around the corner. Third I’d like to thank Joe Kaiser & Bill Bronchick, without your knowledge none of this would have been possible…now the details
I had three homes under contract, 2 of them I had an agreement with the owners to L/O them for 2 yrs, with a 45 day T/B finding period, they agreed, so I made the contract subject to me fing the T/B by the 45th day, or I would walk away nothing wasted but time and some money for ads. Today made the 45th day (Mar 20) and wham the tenants came, (Thanks Scott). The third the homeowner decided he was gonna stay so I walked.
Home 1: $3k option + 300 Sec. dep.
$700 month
$88,000 Pur Price
2 yr lease
I had the home under contract for $1.00, $600/month and a pur price of $71,000. I will make $2400 for the lease term, and $7000 at the close, (hope not)… not bad for a $1.00
Home 2: $3k option + 200 Sec. dep.
$675 month
$85,300 pur Price
2 yr lease
again only $1.00 on the contract $600/month, pur price $74,000. I will make $1800 for the lease term, and $5000 at
the close…
I give a big thumbs up to the guru’s on the board, for everyone starting out IT DOES WORK!!!
Derek NC
Re: No need to be sorry about the silly caps! - Posted by Stacy (AZ)
Posted by Stacy (AZ) on March 21, 1999 at 23:51:42:
Nothing like the first deal to make you understand you’re on the right track! I know it well. Very well done. I’m excited for you.
Like everyone else has said…go get another one. Don’t let the shock stop you…you’re on a roll.
Stacy
Re: I FINALLY DID IT Sorry about the caps - Posted by SCook85
Posted by SCook85 on March 21, 1999 at 14:58:26:
Derek,
I heard you couldn’t do them in NC. Great Job, you proved them all wrong!! Now go get another.
SCook85