Success Stories
John Ford
By
May 10, 2005, 12:33

Hey everyone;
After just a year pursuing a life in real estate investing I have finally closed on my first real rehabbing project. I entered this field with no direction after two months I settled on rehabbing, I bought Vena Jones Cox' course on buy low sell low. I read and learned every thing I could, I started putting the info to work then I learned about Steve. I tried to read all his ideas on creonline and then he came to our real estate investment club and talked to us about his investment theory. While there I bought his book Wholesaling For Quick Cash. I read it from cover to cover and got a lot more good info and I added that to what I had already learned.

 So here we go I start making offers first 20 all no although some came back with counters, still nothing happens 15 more all no's, then 5 more and finally a yes. I set the closing for 90 days and started marketing the house no one wanted it six weeks went by and I had choices to make. I decided to see if I qualified for financing I did so I decided to buy it myself to live in. During all this time I worked with realtors, sent out letters to homeowners of abandoned homes, networked with other investors, and left out cards. I had several other hits but no results, then I heard about Steve's boot camp and decided to attend in September, during this time I was called by a couple I sent a letter to about a burned out house, they were very motivated and kept calling me. I tried to find out how much they wanted and they kept asking how much I wanted to pay. So I offer $25,000 they say $35,000 we settle on $32,000 so I start marketing I get loads of calls but no takers.

 If you go to Steve's boot camp he gives you his cell # to call for questions to help get the deal done. Steve say's why not do the deal yourself so I get an appraisal it comes in at $170,000, after a lot of contractor interviews I got everything in total repairs at $74,000, I got a hard money loan for $100,000 $25,000 at closing $75,000 in escrow. To do the deal I had to get the sellers to take back a $7,000 second. I have had other deals that didn't come to fruition and one in particular where the investor strung me out till I let the deal go and then he snapped it up. Moral of the story use all your resources don't give up and keep at it, it works if you work. I'll keep you updated on my progress.


John Ford