As 14 month Inner Circle Mastery Students, Marie and I have immersed ourselves in the education and we are careful to follow the processes taught to us. In doing so, we made our first Realtor relationship about 13 months ago. Last month, he called us up - out of the blue - and introduced a 'pocket listing' that came through his brokerage. The owner lived out of state and had previously leased his property to tenants. This owner recently died and left the property to his daughter, who no longer wanted to deal with it. Further, it was very run down, with nearly every problem imaginable - except for the roof. We ran a deal analysis on it and made an offer with confidence, 'framing the price' to the owner - through two realtors. Luckily, the owner said 'yes'. We had set a goal to have our first wholesale deal this quarter, so that's exactly what we did. Having built our Buyers' List to about 150 investors, we sent out an email and sold it in 5 minutes. We also learned a great deal more about how to position using a preferred title company, negotiating value for top dollar, creating a killer Wholesale Packet, and actually getting an assignable contract through a brokerage (which many here in Colorado will not do). This turned out to be a double close transaction - our first. We made $10,000.
How did the FortuneBuilders team and resources help you to accomplish this deal?
The FortuneBuilders team was instrumental in terms of equipping us with the comprehensive education to market, analyze, structure, and successfully contract the deal. The title company was selected based upon a team member referral and ability to 'double close'. We asked our Coach, Dennis Commack, to eyeball the deal - before closing - and he thought it was a 'Go!'.