OfflineThis was a MLS listing that a landlord was tried of renters trashing his property. It is a 2 bed/1 bath
carport home with about 1000 sq. ft. under central heat/air. Jill & I painted inside & out; new bathroom fixtures; new kitchen sink/faucet; new light fixtures/ceiling fans; new appliances(refrig. & range);
Jill installed new vinyl tile in the kitchen, laundry &
bathrooms; we had new carpet installed in the rest of the home. Cost of materials was about $ 4300 plus holding costs of insurance, water, electric bring the total to $ 5400. We bought it for $ 20,000 & sold it to
a cash buyer for $ 32,500; giving us a $ 7100 profit!
It took Jill & I about 3 weeks to do the work & about 4 weeks to sell.
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Ryan is on this website as "cub"; we put up the cash to purchase the property, we put up the cash for the EMD/materials/holding costs & did the work.
So Ryan will make $ 3550 profit on a $ 19,000 investment for 2 months; that's 18.6% ROI.
Jeffery sure turned out nice . You guys did a great job on the rehab and it sure looked good when i was down there! Glad we sold it so fast. I will take 18% ROI any day!!! Talk to guys soon.
Ryan
Sounds like great team work and partnering efforts!
Congratulations on another winner!
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe
Did Ryan do the funding? I am not quite understanding, but anyways, Great work!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Everything went great at the closing today! Your check is on the way!!!
Thank you very much. Yes it is a good partnership, the best thing is that 2 complete strangers met because of this website & are making money!
that is really nice that your partnered deal went so smoothly!
Congrats!
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Thanks Tammy. Yes Ryan put up the purchase money for this property, Jill
& I put up the money for the rehab materials & did the labor on the remodel. We listed it on with a "Flat Fee" Agency so as to be on the local MLS & realtor.com website. The nice thing about that is if a agent brings a buyer you pay 3% commission, but you can sell it yourself & pay nothing but the original $ 249.00 listing fee.
We currently have 3 properties listed that way & had someone call on a larger house. After showing them that one, which they liked but did not want to spend that much, we showed them this house ... went back & forth on the price a little until we both agreed. Locked it up under contract with our cash buyer this past Wed. & closed today! The rest is history.
And FYI Tammy, Ryan & us split the profit 50/50.
Thank you for the breakdown of the deal. I also have seen the 249.00 sites, but didn't think of using it for myself. Wow! Thank you for showing me how to use it and how simple it can be! Superb! I am thinking your other houses will sell as well.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Love seeing teamwork from DGers. I was at 2 different REI focused Christmas parties last night and mentioned Dean and this site to multiple folks. Most made a face at first but then I told them to quit listening to folks just spouting off at the mouth and go to this site and read and talk to folks here and then they will see that Dean and what he has put together is REAL. This story right here shows how successful this site is!
SEMPER FI
GET SOME!
Thanks Jack, you're right there is a lot of success just from this site!