Posted by kf_az on January 18, 2000 at 19:22:43:
Way to go Tarun…that’s what it’s all about. Thanks for sharing. By the way, what is the FMV on the property and did it need any fixup? I’m curious what was left in it for the investor you flipped it to.
kf_az
Yesss!! I finally closed on my biggest wholesale flip so far! - Posted by Tarun_md
Posted by Tarun_md on January 18, 2000 at 19:05:20:
Hi everyone,
Today, I walked out of the title company with a check for 12,081.50. I have done several deals, including lease options, but this ismy biggest deal yet(I am still a newbie).
I still can’t believe it. I simply put this property undercontract 50k and sold it to an investor for 63.5k. At closing, I netted about 12k.
My example is more proof that anyone can do this business. I am still in college and don’t have any funds to invest. On this particular deal, I didn’t even put up any earnest money. It was a true no money down deal.
During times of difficulty, this site is what kept me motivated to go out and find deals. There are many wonderful people here who helped me through my hurdles.
I would like to thank them.
Hopefully, my example will help motivate others who are trying to get started.
Sincerely,
Tarun
Great News Tarun!!! Congrats!!! (nt) - Posted by WilliamGA
Posted by WilliamGA on January 19, 2000 at 08:33:12:
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WAY TO GO TARUN!! - Posted by Jim IL
Posted by Jim IL on January 18, 2000 at 20:35:22:
Tarun,
After having spoke with you, there was never any dount in my mind that you’d be successful in REI.
This deal proves it even further.
Nice deal, good job and Congrats.
Let us all know, if you don’t mind, the particulars on the deal. Could be a good learning experience for many here.
Again, NICE JOB,
Jim IL
P.S. That must be the “Maryland” phone call on my caller I.D. right?
I bet your STILL shouting and jumping for joy. I know I would be.
Way to go, my friend. - Posted by JohnB_NJ
Posted by JohnB_NJ on January 18, 2000 at 19:57:21:
Tarun,
I didn’t think you could do those types of things in MD. 8^) Way to go!!
I bet you are hungry for more. I know I was. I still have a copy of my first “flip” check pinned to the wall right in front of me at my desk.
Please do tell more about your deal. Was a FSBO? Bank REO? Did you find it in the MLS? Do tell how you put it all together.
Again, congratulations, my friend. You are hot, now go get another one!
Sincerely,
John Bittel
Congratulations, Tarun! - Posted by Bill K. (AZ)
Posted by Bill K. (AZ) on January 18, 2000 at 19:52:34:
I sat beside you during the first part of last year’s convention. After speaking with you, I knew that you’d be successful in this business.
Congratulations! This is just the beginning, my friend.
Bill K. (AZ)