I am pleased to announce that Lance and I have officially closed our first deal! My partner is in route to the closing company now to pick up our checks.
Never having done a deal before, but reading so many stories of other people and their deals, this has been fairly straight forward and textbook. The only slight wrinkles in the entire process were making sure that the daughter of the owner had the proper power-of-attorney and our first buyer backing out a few days after he said he wanted the deal. Other then that it could not have gone smoother.
Here are the details to the deal…
It was far from a home run deal, but none the less it was a great first deal. My confidence in the entire wholesaling process has increased greatly that is for sure. Over the past few months I’ve been wondering if I will ever find a deal and then this one came out of the blue.
For anyone who is just getting started, or have been at it for a while and have nothing to show for it, just keep at it. I started looking for my first wholesale deal over 2 years and finally found this one. Much of the blame for why it took me so long can be put squarely on my shoulders, but also because I work a full time job and progress is much slower when that is the case.
P.S. If you haven’t voted for my blog in the REIClub.com REI Blog contest, head on over and cast your vote now!
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