Edward Caldwell Victory

 

Edward Caldwell Victory

IFIXMUP LLC and Desert Sky Properties Group, Inc. in Chandler, Arizona

Type(s) of Victory: Reached a personal goal, Reached a business goal, Fixed something in my life, Helped someone in Mastery, Implemented a marketing campaign, Implemented an individual system, Started using a system, Found a great team member, Found another income stream, Got my first lead, Made my first offer, Got my first deal under contract, Closed on my first deal, Sold another deal, Rehabbed a beautiful property, It was just awesome


Wow, it has been a whirlwind 10 months since I joined Fortune Builders. I can't thank Than and his team enough for awaking the sleeping real estate beast within. I have learned so much this year from Fortune Builders and through ALOT of personal experience by just DOING it. I still have a full time job as a CPA and two teenage daughters involved in both music and sports, so time has not been on my side. Even with a busy life, I have managed to purchase 6 properties to date and am working on a 7th. My first property was the scariest thing I have ever done. I purchased a home built in the 1900's in the historic district of Phoenix at auction sight unseen. I found a newer contractor and we hit it off and decided to build each others business for the long term. I will always remember this first property and overcoming my fear to make my first $20K profit after all the headaches of my first rehab. My second property purchased at auction only made me $4,000, but the learning curve was priceless as I learned a lot about going to cheap in a kitchen. My third ended up being a Section 8 rental, where I learned more than I cared to about the new loan banking rules. But, I managed to get most of my money out from the purchase and the cash on cash return is not too shabby at 16%. My third has been the rehab from HELL and has slowed my progress this year, but I have learned about illegal additions, permitting problems, asbestos abatement, etc. I partnered on this one with another Fortune Builders couple I met in Vegas as he was a contractor. After six months, it will be on the market next week and we should still make a decent profit of around $30K. Stay tuned. I am currently rehabbing two more properties with two separate contractors, so the prognosis on these two is yet to be determined. During this same time period, I have met several realtor's I am working with, have used a hard money lender, have met and am using a private money lender who also set me on the MLS to research, and learned to use bid companies for auction buying. With all this going on, I only regret not having enough time to dive more into Fortune Builders teaching and coaching to do it better. My goal is to find more time to better utilize these valuable resources going forward. When I get more time, I would love to post the details of the deals done this year. I forgot the value of rolling both my wife and I's 401K funds to put them to work for us, forming an S corp and a LLC in the process. Anyway, this is the quick skinny of the progress to date and the year is not over yet. I look forward to continuing to "CRUSH IT" and making my Fortune Builders family proud.


Shout Outs & Testimonials

See my previous post. Fortune Builders has been a great asset.



* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use.