Hi Ron,
We got our first contract during our second week of mentoring. The ARV is $600,000 or maybe higher. The seller owes $215,000 on the loan and about $65,000 in arrears for a total of about $280,000. Payments are about $1,800 PITI.
The house is 5,800 square feet with six bedrooms and five baths. The property is 2.3 acres and includes a 1,200 square feet office/shop. Repairs are estimated at $30,000 to $35,000. The seller just wanted out. We got it subject to the existing debt. We expect to net 6 figures!
We got the lead through the Gold Club Lead Service. The whole process was both exciting and terrifying. Thanks to our mentors for answering all our questions and giving us the confidence to do this deal. Without your mentoring, we probably would never have done a deal like this.
Thanks,
Robin and Skip Hollifield
If you’ve been thinking about getting a mentor, fill out the online application HERE and see if you’re a good fit for one-on-one coaching!
Congratulations Robin and Skip. Keep up the good word. Very encouraging indeed. On a different note, I have noticed that all the testimonials comes from students of the Great Wolff couple, Brian and Lynette (They are truly Great). Just curious why we never see anything from other mentors
So are you going to reinstate the loan, or try a short sale? Hopefully you can get 10-20% down reinstate the loan and get a huge monthly spread.
Congrats
Phillip Warrick.com
Can you provide more details on how you are structuring the deal? I saw you got ‘subject to’ but how are you catching up the back payments, and addressing the repairs?
Congrats!!
Hello Robin & Skip,
Congratulations and good job on the deal! I am proud of you and your efforts. Glad to read that you made some good money 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
Hello again Robin & Skip,
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 successful real estate investors. I am new to Planet Ron, and am still 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 Robin & Skip,
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 Robin & Skip,
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.