OfflineThis a property that we(Gary, Jill & Ryan) bought in August for 18K. The Seller had done owner financing
twice & got stuck both times; she saw our We Buy Houses
magnetic signs on our vehicles & called.
We bought it right, Ryan put up the cash for the purchase of the house, Jill & I put up the cash for the rehab materials & did the labor. It took 3 weeks, replaced the kitchen cabinets, counters, appliances, bathroom fixtures, ceiling fans, light fixtures, paint inside & out & carpet. Total cost on materials was around 4500 to 4800; with holding costs for electric, water, insurance, etc. we have about 5950 into it.
Sold it for our asking price of 36,900; the Buyer used as USDA loan, the house appraised for 37K, they borrowed 102%, we gave back 6% toward closing costs
($ 2214) ... split the profit, so we each made over
$ 4800.
Ryan's initial investment was $ 17,500 & he cleared over $ 4800 to do nothing ... that's 27.5% ROI!
This is the 2nd property we have done together, &
are now close to the finish of the 3rd. house. Jill & I
did take a break from this one to rehab one of our own,
which we just signed a sales contract today ... bought
it at 27,000, put in about 3,500 & are selling it for
$ 44,800 ... but that will be for another post when it closes at the end of the year!
Ryan makes over 27% ROI in Fl. with Gary & Jill
Posted on: Wed, 12/12/2012 - 02:07
Ryan makes over 27% ROI in Fl. with Gary & Jill
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- by gceriani
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did it again! Congratulations! Thanks for sharing the details.
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.
Nice turnaround, Nice TEAM work, and Nice ROI!
You three are win-win-winning!
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
Thanks Tammy. This one took longer to close because of the Buyer using USDA for financing. The government closed all the USDA offices in Florida except for one so they are very backed up.
Barbour looked great when I was down there in Florida! You guys did a great job on the rehab. Sure is nice to have another sold and what a great ROI!!!!
Congrats to you both on getting Desoto under contract to be sold. That was fast!!
Talk to you soon,
Ryan
Hi Id love to have your team way to go, Jim
jbischoff
Thanks Kathleen. It was not only a good turn around but a great ROI. This
partnership with Ryan has been fun, made some good friends and have made some pretty good money on top of everything else.
And what's amazing is that it's because of the website, thanks DG.com
Thanks Ryan, as always it has been a pleasure working with you on another project! It's especially satisfing to make these high ROIs when the initial investment is low, making the risk /reward ratio really high!