Hi Lisa and Rick,
Roy and I completed our first ACTS deal this afternoon, enabling us to put a total of $4,750.00 into our bank account. YAHOO! Thanks to Ron LeGrand for you both, especially you during all of this, Lisa (tax season for Rick); your suggestions and expertise were invaluable!
Roy started working with the seller, who responded to that wonderful yellow letter back in mid-February. Letter of intent was signed and the process was underway in early March. That old adage, “buyers are liars… proved true in working with this property. Applications went like hot cakes after our extensive marketing, but only one tenant buyer came through, believe it or not, without even seeing the home! Everything was completed via pictures, emails, phone calls, etc. from Florida to Raleigh, NC.
Synopsis:
Application from “sincere” tenant buyer was received on April 15th along with money order for $200.
Once approved by detailed screening and with the seller’s blessing on April 24th, we received a $1,000 money order as down payment on the negotiated $3,500 non-refundable assignment fee. A separate agreement with the seller is allowing us to keep the first month’s rent of $1,250!
Today, a cashier’s check was placed in my hand in the amount of $4,850, which includes the $2,500 balance of the assignment fee, first month’s rent of $1,150, ($1,250 less the $100 application fee credited) and a security deposit of $1,200, which the seller insisted on and will be paid to him. Grand total to us: $4,750!
Thank you so much!
For Roy and myself,
Lois Schultz
fantastic…go get another one!
that is so awesome!
Hello Lois & Roy, thanks for the success story! It is very inspiring and well worth reading about. Congrats on the $4,750 profit check. The Your determination, focus and dedication is really something else! Keep up the good work.