Investor undaunted Things “fell together” for investor

Like a trail of dominoes, one thing fell after another for Denice H. She had been forced into retirement by a disability in 1996, and as a result she was facing foreclosure on her home and bankruptcy.

Unrealized potential
Denice first purchased Carleton’s course in 1997, but “I was too sick at that time to go out and actually look at properties and put offers on them,” she remembers. “I couldn’t drive I couldn’t even turn the key in the ignition. And there was a time, I couldn’t walk.”

Coaching to the rescue
Later, when her health and other circumstances improved, she brought the course “out of retirement” and then joined Carleton’s Coaching Program which kept her motivated. “The Coaching Program changed my life,” Denice says. “It gave me a newfound confidence. I overcame my fears of dealing with people, banks, and lenders. It helped me realize that there is a way to buy real estate even with my circumstances and I started buying property.” Her very first transaction was a partnership with her sister. Denice refinanced her home to obtain the cash for the deal.

Uses creative technique
Her second transaction was her most creative one. It was in the newspaper advertised as “no qualifying,” but the owner wanted $14,000 down. Denice had saved a little. So she offered her savings to the owner along with a sports-card collection, worth approximately $10,000, to make up the difference. The owner accepted!

What made this deal so special was that the owner allowed her to show the property before they closed on it. On closing day, Denice had already received a $2,300 deposit, and a tenant was all ready to move in. She put down very little of her own money at closing. By that time the market was heating up. Denice and her sister refinanced their first property to use as a down payment for a nearby property that was for sale.

Flexible seller is key
Since that time, she has learned how to structure her transactions to receive money back at closing at the time of purchase. The key is a flexible seller. She asks the seller to inflate the purchase price, and to give her a credit at closing for any repairs or upgrades. She has also been able to get cash back at closing when she refinances over $350,000 worth! Denice now lives in her newly constructed dream home. She owns 10 properties in three states her out-of-state properties are managed by local management companies and her net worth is about $750,000.

Only way is up!
Thanks to her real estate investments, Denice is able to travel and live a more comfortable life. But she says with a smile, “I won’t feel like I’ve arrived until I get my Bentley!”

On a more serious note, Denice shares “Use every precious moment wisely that God has given you.”