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Home » Resources » Millionaires in the Making – Paul Schemmel

Millionaires in the Making – Paul Schemmel

Hello Brian and Lynette,

I wanted to say thanks for the support, encouragement and guidance you provide week-in and week-out. Thanks to you, I have this check for over $60,000 that I made from a fix and flip!

The purchase price was $265,000, and we added a whole second story with an oversized, detached 2-car garage. We borrowed $315,000 with non-recurring payments so it didn’t infringe on my cash flow. Simply put, all the interest is paid off when the house sold.

The property sold for $705,000 while it was still under construction, and it was never listed in the MLS. The buyer’s offer was written by their agent, to whom I did pay a 2.8% commission. I also gave the buyers a $2,000 seller concession, but that was nothing compared to the huge profit from this one deal.

All the help and guidance that you provide on a regular basis gives me the confidence and helps lay out the path to my success.

Thanks for everything!

Paul A. Schemmel

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3 Responses to Millionaires in the Making – Paul Schemmel

  1. Robert Straker says:

    Hello Paul,

    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

  2. Robert Straker says:

    Hello again Gilbert,

    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 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

  3. Robert Straker says:

    Oh by the way Gilbert,
    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.

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