IT CLOSED! IT CLOSED! IT CLOSED! Wait until you hear about THIS deal! WOW! You aren't going to BELIEVE this!!!!! This deal was on, then off, then on, then off, then on, then off, then on 5 times.
This is the property straight outta you know where! I learned SO MUCH on this deal its incredible!!! This property had 2 Lis Pendens, a medical lien, other liens, a franchise tax board lien, REAP liens and issues (Rent control issues and violations), back taxes, housing authority issues, a issue where the owner had 2 wives (long story), had health issues. There were fights with escrow officers and title, raised voices, threats of lawsuits, and a barrage of other crazy things that happened. The wife # 2 stopped the first closing after literally spending 9 hours in escrow (on one day, 8 on anther, 4 on another, etc). I never do anything without excessive excitement, do I? Should have known when the initial meeting with buyer and seller lasted 4 1/2 hours to negotiate.
If you can imagine, it was EXTREMELY complex and complicated, but it made for a REALLY SWEET DEAL!!!!
I am jumping for joy!
The details:
PP: $217K
Liens, lis pendens, back taxes, etc: $56K
Rehab: $20K
ARV: 420K!!!
AND THIS IS A FOURPLEX in Los Angeles. Monthly rents will be $4850..... 2 are already rented...
I brought in a partner on this one (he was actually my buyer, but his funds were tied up, and he brought in another buyer). My partner got $9K, and I got $9k. (SEE SANITIZED PICS ATTACHED BELOW!!!!) THIS WORKS ANYWHERE! EVEN HERE IN SOUTHERN CALIFORNIA!!!
Remember, anything is possible through God who strengthens you! NEVER GIVE UP! There will be a lot of work that goes in behind a deal. There will be days when it seems like nothing will close. There will be days that all your hard work and effort seems to be for naught. There will be times you have to choose whether you are going to persevere or you are going to throw in the towel and give up. There will be times when you get so down on yourself, you feel as if you're going to fall apart. There may be constant naysayers down your back attempting to make you feel as if you have no value and can't do anything right (I have a big one like this). So what are YOU going to choose?
Guess what? I am SNICKERING on the inside. My naysayer is pretty much speechless. And I have been laughing and crying in happiness since getting this check. This was MY deal. I DID IT! I proved to myself, my naysayer, the world, that all my efforts are NOT in vain.
Failure doesn't come from falling down. Failure arises from not getting up after failure and persisting despite failure. Success is FAILING over, and over, and over, and over and OVER AGAIN!!!!!! I had 2 other deals fall out before this, and several others that didn't even get to finalizing the contract.
I currently have 7 others under contract. HERE IN SOUTHERN CALIFORNIA. 2 of them have buyers that I believe will follow through. They are HIGH END DEALS. Do you know how much time it took me to figure out SOUTHERN CA? I have overcome a HUGE plateau!!! HUGE!!!! Keep the positive attitude even when it would be easy to become negative. Keep positive and ANYTHING IS POSSIBLE (Text from a partner).
~Tammy
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