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Buying Your First Property Q&A is happening in 5 days
Win/Loss with First HouseHack
Hi Guys. My quarterly goal was to buy my first house and this past weekend I submitted my first official offer on a nice SFH here in my local market (silver Spring MD). It was exciting, both my fiance and I really fell in love with the home. The property was also located 7 doors down from my first investment property. We wrote what I thought was a pretty strong offer above asking price, but were unable to beat the 7 other offers. Being an agent in this market, I understand how competitive homes are, but it still hurt losing out on this one. Something about buying a primary residence adds a level of emotion rather than just a investment property. Anyway, I was proud that were able to submit our first offer even though we didn鈥檛 win. I am going to keep looking to find our first house hack and will keep you all updated with our journey! -Nico
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New comment 5d ago
We just crossed 600 Members!
This group has launched just over a month and a half ago and we are already at 600 members. This is huge for me, to see all of you interested in this group. As we continue to expand please contribute as when you help others, good comes back to you in kind. The next goal for me is 1,000, hoping to hit that by Oct 1! How should we celebrate? Let me know below
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New comment 6d ago
New Lesson Learned
I was sent a property that looked great (to me), and the seller wanted to move quick. After analyzing it I immediately sent an offer and submitted the deal to a recommended lender. They told me they liked the numbers and could close in two days. 5 days after that I was still getting excuses and being asked redundant questions. Finally, at the last minute before signing to close, they pulled out. No reason, stopped answering emails and refused my calls. No clue what got up the lenders ass. I called people I've worked with that know him. They reached out, pleaded my case, vouched for me without result. All have said they don't understand his problem and couldn't figure out what happened. My next move was to call the seller and ask for help, and reach out to the tiny network I have. I thought I had everything in place and realized that I need a bigger network so I have back ups and more choices to put me in control. In the end, I now have more than one resource and am currently on schedule to close after the weekend. Because I was in a bad position I didn't get the best term but it's not terrible. All the numbers work, and besides it's only two of three payments anyways. I'm actually getting an Ok deal, a higher LTV than before. Only one of the fees is more, but that wont happen again So my lesson is to be better prepared by having more choices, not just one source.In this case, meaning a Lender, but also in every other category too. I'll never beg for money again. I'm submit to all of them and let them fight for me. We do this with estimates, car repair, everything else but it seems many of us try to stick with a lender or bank for some reason. Next up- Rehabbing two places at one time...
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New comment 14d ago
Juan loved My Deal Analyzer!
I received an amazing compliment from @Juan Gabriel DeJesus on my deal analyzer today and I consider this a huge win as this product made an impact on his life. Here it is: P.S. Dont be afraid to share more wins you have, even if its mindset change. Wins beget more wins in life. Celebrate the small ones you have. P.S. 2: If you want a copy of the deal analyzer spreadsheet you can buy it in the classroom section!
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New comment 26d ago
Juan loved My Deal Analyzer!
F Yeah Friday
Offer going in. Who else is moving forward and how? Offers? Analysis? Funding. Calls? F yeah!
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New comment Aug 9
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