Dear All,
After attending a Quick Start Real Estate course in Little Rock, AR, in November of 2018, I completed my first “pretty house” deal within 3 weeks with a net initial profit of $13,250. (Final estimated profit: $21,419)
This was a lead sourced by Eagle VA who generated the property information sheet and then was called by a mentor at the course in Arkansas, who set up an appointment for me when I returned home.
“Sandwich Lease/Purchase”
- Purchase price: $179,000 (actual $178,836) | Selling price: $199,000
- Down payment to seller: $5,000 | Buyer’s down payment: $20,000
- Monthly payment: $1,550 PITI | Monthly rent: $1,600 ($250 total+1st month’s rent $1190)
- Term to seller: 9 months / buyer’s term: 5 months | Contract costs: $1,750
- 5-month principal pay down $1565 total ($312/mo) | Term end profit = $8,169
Actual PP is mortgage balance $173,836 + $5,000. Initial profit = (20,000 down – 5,000 down) – 1,000 closing facilitation fee at title company – 750 attorney fee for document review = $13,250. During the term, I am paying down debt to mortgage co. directly; Tenant/Buyer is only paying rent. End of term profit = 179000-(173836-1565)+(1190+250)=$8,169. TOTAL: 199,000-178836 -1750 cc+1565 ppd+1440 cf=21,419
I started in real estate under the tutelage of my father, who has had rental properties in Texas for 40 years, after settling down in a small town near St. Louis. My father and I bought 15 rental properties mostly through a seller financing and some traditionally through a bank in my hometown.
We are now expanding only using the techniques taught through Ron LeGrand and the Mentor program. THANK YOU!!
Sincerely yours,
David Hejl in Vandalia, Illinois
Hello David,
Congratulations and good job on the motivation! I am proud of you and your efforts. Glad to read that you made some good choices and are becoming a successful real estate investor. I am new to Planet Ron, and am working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
This speaks to the power of what we have in the system by Planet Ron. They allow us to get off to a fast start and get profits! Thanks for sharing!
Hello David,
Congratulations and good job on the real estate deal! I am proud of you and your efforts. Glad to read that you made some good investing decisions and are becoming a successful real estate investor. I am new to Planet Ron, and am working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Oh by the way David,
How many other deals have you done since this one? It would be interesting to find out what other deals you have so we can all learn from you experience and perhaps use that knowledge to help ourselves make us successful. Thank you and take care.
Hello David,
I am working on a deal right now and hope you are reading this comment so as to replying and giving me some words of encouragement, advice, and support. I sure could use it so that I too can be a successful investor! Maybe I’ll hear from you soon? Take care.