Posted by J.P. Vaughan on June 01, 1999 at 24:00:16:
Rodney, we are very happy for you! Terry just left for
the Atlanta Workshop, but I’ll be sure to tell him the
great news!
JP
Posted by J.P. Vaughan on June 01, 1999 at 24:00:16:
Rodney, we are very happy for you! Terry just left for
the Atlanta Workshop, but I’ll be sure to tell him the
great news!
JP
One little Lonnie, Two little Lonnies… - Posted by Rodney (AZ)
Posted by Rodney (AZ) on May 31, 1999 at 21:53:36:
Hi, gang! I’ve been slow in posting this, but I recently completed my 2 first Lonnie deals! Some of you locals that belong to the Phoenix Real Estate Investment Group have already heard about them, so bear with me…
After I left the convention in Dallas, I was on fire. I had been studying everything but had done nothing. So I resolved to change that when I got back. (As a matter of fact, when the convention was over I caught Terry Vaughan leaving with an armful of stuff. I stopped him, thanked him for a great convention, and made him a personal promise to get off my @ss and “do a Lonnie deal within 30 days”. This was my way of motivating myself, by publicly promising action. Well, Terry, I didn’t make it within the 30 days I promised, but I’m doing it, nonetheless!)
When I got home, I went out the very next weekend and bought 2 homes. I’ll save the details for my “Success Story”, but suffice it to say I did everything wrong! But I don’t care, because I got $10,000 worth of real-world education, AND I STILL MADE MONEY!
First home was purchased for $4900 (too much!) and I put about $1000 (too much!) into it before I marketed it. Sold it for $8143, with no money down and 48 payments of $217.43 @ 12.75% interest. Still making money, but can do better…
Second home, I paid $1000 for it (that’s better), put $0 into it (now we’re talkin’!) and sold it for $4120. No money down, $138.32 per month for 36 months @ 12.75% interest. Much, much better.
Incidentally, closed on home #1 on 5/24/99 and #2 on 5/28/99.
I now know what NOT to do, and I’m ready to get on with the good stuff! Like I said, I have learned so much from these 2 deals and now have the knowledge to get out there and do better. The self-confidence that I have gained is powerful stuff! No more, “Can I do this?”, or, “Will this really work?”.
I’ve rambled on enough, but I have to thank everyone on this website for sharing their wisdom and for offering their encouragement to newbies like me. And a special thanks to Lonnie Scruggs, my mentor as well as a fine human being.
Rodney
Re: One little Lonnie, Two little Lonnies… - Posted by KF_AZ
Posted by KF_AZ on June 01, 1999 at 10:44:23:
Great Job Rodney! More impressive to me than your deals is your positive outlook. To view mistakes as a valuable education is one of the elusive keys to success in life. Keep it up. See you at the next meeting.
Kieran
Re: One little Lonnie, Two little Lonnies… - Posted by Barbara (ME)
Posted by Barbara (ME) on June 01, 1999 at 06:36:08:
As a fellow MHer I relate to your excitement. Great isn’t it? Congratulations.
Barbara (ME)