How Tammi and Angela made $76,000 on their first 2 dealsReading Time: 5 minutes
Most impressive of all, this was Angela and Tammi’s first short sale, first rehab project, first time working together, and first time buying properties from myHouseDeals.com.
Alex recently met with myHouseDeals.com members Angela Jackson and Tammi Kepner to hear all about their newfound success in real estate investing.
Alex visited the two investors at the house they have just finished rehabbing. After a quick tour and exchange of before and after pictures, Angela and Tammi were excited to tell Alex the journey that took them from a “falling apart fixer upper” to a newly rehabbed, sold house.
2007 was just starting and Angela was eager to start her career as a real estate investor. She found out about myHouseDeals.com and signed up for a free trial. It was on the website that she found a motivated seller lead she thought she could work with. After contacting the owner and crunching some numbers, Angela felt this could be the deal she had been looking for.
The homeowner was ready to walk away, and the house was in really bad condition. Angela was confident that she could get a Short Sale accepted on the house. She had recently learned about short sales, but had never worked with one, so she gathered up some of the required information and put together an offer. To Angela’s great delight, the short sale was accepted!
But before she could move forward, Angela needed a partner, an investor who could provide the capital for the purchase and rehab. So after a lot of searching around, Angela decided to take up some friends’ suggestion to attend a meeting at her local Real Estate Club. It was there, while networking with club members that Angela met Tammi.
Tammi was also new to the real estate world and started attending club meetings in hopes of learning more about investing. She had the capital to invest, but not enough knowledge to take on a project by herself. Upon hearing about the property Angela had found, Tammi became interested. And after the two met, Angela suggested that they work together. They both clicked immediately and felt they could do well as a team, and so they decided to partner up.
The rest is history…
With Angela’s knowledge and Tammi’s resources the two purchased the property and completed a major rehab. Tammi and Angela sold the house while they were still finishing the work. Best of all, they never had to work with a Realtor. All they did was post a “For Sale By Owner” sign on the front yard.
As an incentive they offered to pay the new homeowner’s mortgage for the first month and some of the closing costs. This proved to be a very effective marketing strategy. The house was sold only days after the sign was posted. And they did such a good job rehabbing the place that the buyer never negotiated on the price. They got full market value on it.
When Alex met with them, they had already closed on a second property from myHouseDeals.com. Angela and Tammi are on their way to making over $76,000 from the two deals combined.
They are now searching for their third venture together and are interested in taking on a fourplex they found in the area. The fourplex has been abandoned by the tenants and has been vandalized since then, so it needs a full rehab and will require a lot of work and attention. But they feel confident that they can do it. “The first one is the hardest” said Angela “and we’re done with that one”.
What is really inspiring about Tammi and Angela’s story is that they combined their strengths to make up for their inexperience. They were also realistic about which type of project could serve as their springboard and paid attention to detail when dealing with offers, rehab, and marketing. They are now a team to be reckoned with and are very excited to continue working together.
They are using their myHouseDeals.com membership every day to find the next great deal. They are also considering branching out to wholesaling some of the properties they find interesting but do not want to rehab themselves. So you might just see them at the wholesale deals list soon!
Thanks Angela and Tammi for sharing your story with us and much success in your future ventures.
I hope this story inspires you to take the plunge and dive deep into your real estate goals. If Tammi and Angela did it, you can too. And if you find yourself discouraged at times, think of all the possibilities and investing resources at your disposal (including myHouseDeals.com). Be sure to make use of them and soar into your investing success!
P.S. If you haven’t signed up for a 30-day free trial to myHouseDeals.com, do so now by going to www.myhousedeals.com/freetrial. I’ve recently added $1,252 worth of free gifts that you get when you sign up. I know you’ll love (and learn a lot from) them!
P.P.S. Tammi and Angela made their first deal possible by doing a short sale. To learn more about short sales, check out http://www.myhousedeals.com/shortsalesystem. There you’ll find out how to get my Advanced Short Sale System that takes you step-by-step through a short sale and teaches you everything you need to know to get started and more!