Michael Sher Victory

 

Michael Sher Victory

MJS Premier Homes, LLC in Northfield, New Jersey

Type(s) of Victory: Closed on my first deal


2 months into the Mastery Program I was able to close my first wholesale deal. The lead came from a bandit sign. I was a little hesitant at first because the house was an hour away from where I live. The house just came off an expired listing and the owner was part of a group of 3 guys who wanted to get rid of their last rental property. He said he would dump it for 45k, after I did some research I told him it is not really worth it for me to drive up there unless he was willing to come down to 30k. He told me it was not out of the question and he would get back to me. He called me back a week later and we scheduled the appointment. When I went to the house I did my walk through and I told him, that all of the copper was gutted in the basement and it needed 40 k worth of work and that I could not do anything at 30k. So when he asked me what I could do I told him 10k thinking he would come back to me with a counter, but he only asked if I would cover the back taxes. They were back one quarter and it was the beginning of June, so soon to be back 2 quarters, which was just over 2k. So I offered him 12k and he was responsible for all liens. I did not want other liens to sneak up on me. He agreed. I posted the deal on the local SJREIA group page for 25k and had an offer in 2 days for $22,500. It was a great first deal and It all came about from the bandit sign. Thanks FB for showing how to wholesale. I definitely thought my first deal would be a rehab since I have a little experience in that area and never really looked into wholesaling before. With completing this deal I was asked to do a Tuesday Presentation. This is really exciting to me because it was one of my original goals, to do a deal that would be worthy of a presentation to the FB family. Thanks and Good luck to all. Mike Sher, MJS Premier Homes, LLC.



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