From our REACT/CATS members and Workshop attendees.
“I have known Jon and Stephanie Iannotti for about 3 years now. When they started the Florida Gulf Coast REIA in Ft. Meyers they invited me to join. I am so glad I did..It was at that event that they announced they were bringing ReACTS.. to Market. . I loved there ACTS program, and as Jon always says the Real Estate market is always changing...Thus ReACTS was born. With in the first few month's of the purchase of ReACTS... I had my first closing using ReACTS and at closing I received a check for $9,849.99 I was delighted. I would encourage every Real Estate Investor to "invest in ReACT."...You will be glad you did. Barry W., Fl. This letter is to thank Steph and Jon Iannotti for their help and support. I feel as if I am a fairly experienced real estate investor having completed over 200 transactions in my career. Jon recently helped me put together an owner financing technique that I had never thought of. The result was, I acquired a little 2 bedroom home for $8k through a short sale and was able to turn it into over $400 a month positive cash flow that is set to continue for the next 6 years. The coolest part about the deal is, I was able to offer a great opportunity to the buyer, that they could not find elsewhere. They were elated to not have to qualify at the bank to buy the property and to get a 0% interest loan on top of that. Total profit in the deal will be over $20k. Thank you Jon for not only showing me a technique that is filling my pockets, but more importantly, showing me how to help out a young couple to buy their first home. My buyers are appreciative as well. Passive Cash Flow, Is the way to go! Jeff Dube Assertive Acquistions Jacksonville, FL Testimonial From The Happiest Girl in Tennessee House #1 Subject To Deal It took me 77 days to make $15,160.50. On February 27, I met with a lovely couple in Dandridge, TN. I bought their house Subject To with a two year term for the balance of what they owed, $122,000. I hosted an Open House on March 31, expecting five couples to look through the house. Then my Mentor, Jon Iannotti and I went through "What to expect from Buyers" on our Weekly Mentoring Call that morning, so I felt at ease going to my appointment. I was ready for everyone to throw their money at me! Unfortunately, only one couple showed up that day. They had driven from Chicago the day before and fell in love with the house. Through our discussions at the Open House, I realized they were going to buy this house. I had the house advertised for $145,000 with a Lease Purchase. This couple had seen the Seller's advertisement for $135,000 so I agreed to honor that price. They gave me a $3,000 check to hold their place in line. The next day their attorney called to let me know they had accepted an offer on their house in Chicago and planned to cash me out by mid-May. Ecstatic does not describe the way I felt! In total, I received rent for April and May, $2,000. Then on May 15, I got a check for $13,160.50. I have told that story about a hundred times in less than a month. I've also told people that the Lord probably won't ever bless me like that again. But I keep praying for another blessing! So, what did I do with $15,000? I decided to flip a house in my hometown! New kitchen with granite countertops and stainless steel appliances, new bathroom vanities, new light fixtures and fresh paint throughout. That one hit the Knoxville MLS on June 6. I'll keep you up to date on the progress. House #2 ACTS DEAL I met with one of my Sorority sisters March 17 to discuss buying her house. It is a charming 3/ 1.5 in an older neighborhood close to downtown Knoxville. I agreed to pay her top dollar, $120,000. In the beginning of May, with no luck so far, I called her and she agreed to drop the price to $112,000. By the end of May, I still didn't have anyone seriously looking at her house. So, I called her to let her know I had given up. She told me that she appreciated my efforts and she would probably List It with a Realtor on Monday. Not 30 minutes after that conversation, a man called me desperately wanting to see the house! So, I agreed to let him see it. Then another 30 minutes passed and my phone rang with two other people who said they loved the house! I called my Seller, asked for one more weekend and she agreed. On Monday June 2, I had a $2,000 Earnest Money check from a Buyer with another $5,000 promised to be paid before they moved in. Originally, they told me it would take 8-12 months to be ready for the mortgage. When the credit reports came back, it will probably take them 24 months. Since I extended their contract term, they agreed to put $9,000 Total down on the house and they offered to pay more per month! I had agreed to give the Seller $2,000 of the original $7,000 Deposit. She signed a Notice of Option so I would be guaranteed that $2,000 at Closing in two years. However, when the Buyer's agreed to put the extra $2,000 down, I decided to put it in my pocket. In all, I received $7,000 by keeping my mouth shut! My Seller is thrilled because she's getting $200 more per month and debt relief! I destroyed the Notice of Option because I'm not waiting on any more money from this deal. Happy! Happy! Happy! Side Note: My "Bonus" on this house was a nice, new patio set that I didn't pay for! The Sellers didn't want to move it so guess who took it home?! ME!!! House #3 Waiting on a nut A house with five bedrooms and five bathrooms is completely out of my league. But I bought it anyways! On May 3, the Sellers signed a contract to let me have this monstrous house which basically breaks down into two houses on the same foundation for $280,000. I hosted an Open House on Memorial Day because I had three families interested in a tour while they were gathered for the holiday. I priced the house for $300,000. By Wednesday, one of the couples had given me half of their $10,000 deposit. The Sellers are happy because I split the initial down payment with them. They are in the process of moving out now. They should be out by June 21. To show their appreciation for my hard work, they gave me a mustard seed necklace. My favorite Bible verse is Matthew 17:20 which basically states that if you have just a tiny bit of Faith, NOTHING shall be impossible. Those words have helped carry me through these past five months! The buyer's will give my attorney the balance of $5,000 plus the first month's rent ($1,500) by June 25 to take possession of the house. I'm waiting on my nut of $15,000 when the Buyer's obtain their own mortgage in 24 months. Why will they give my attorney the balance and the first month's rent instead of handing it over to me? Because I decided that I could afford two weeks of work/ vacation to attend Real Education classes then I'm heading to Gulf Shores, AL for a little R&R. Hopefully, my rehabbed house will get a contract while I'm gone! Sincerely, The happiest girl in east Tennessee! Thanks Jon!! Whitney Nicely
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