My Deals

Well yesterday I picked up my second sandwich deal. I found this deal about a month ago. This house was on the market for a little while and a friend who knew what I was doing told me about it and the story behind it so I told him I was interested and to give the owner my #. The house was expiring with the agent on may 31st so I told my friend I didn't want to deal with the agent so have the owner call me after the contract has expired. The house was on the market for $214k and it was worth around $190 so I wasn't worried it would get picked up. So 2 days ago the owner called me and I went to look at the house and then went home to run some #'s. I called the owner but had to leave a message and he didn't call back until yesterday.

I located 130 acres waterfront property here in Jacksonville. Apparently it is heired property as I spoke to the family representative today. He said that they had it under contract 3 years ago and the bottom fell out of the deal. Problem may be that they were asking for too much as he told me that they are looking for $15 million; he also added in "or whatever they can get". I checked the public records and according to city records the market value of 80 acres (land is broken up into 3 parcels) is $2.4 million. I am having a hard time coming up with a good offer amount to lock the deal up as I have 2 contacts with investors that invest strictly in waterfront properties in Florida. Any suggestions? Is this family just being greedy? Do you think they will take $5-$8 million?

Here's the deal:
Couple had a small home and decided to upgrade and bought another home w/out selling first home. They put house on market 3 yrs. ago listed over 50K. I looked at house w/my sister-in-law then and told her it was way overpriced and not to buy or put in a low offer. Note: It's her best friend from high school who is selling it. Fast forward 3 yrs. : still on the market today and agent told me today they are trying to short sale it. It's now listed at 35K. Totalview estimate is $47K. I don't know their current financial situation, but if I had a workable plan to present to them, I would feel very comfortable approaching them about it.

I have read Dean's "Real Estate Millionaire" book and halfway through "Profit From Real Estate Right Now". I have found a few properties to be my 1st deal. The 1 that stands out is this one:

The property is in Jacksonville, FL

Ft. Myers, FL 2/18/2010
Two commercial/residential use buildings.
Built in 2009 - Total of 27,922 SF - 1st Floor (each bldg) 6,330 sf of commercial units - 2nd Floor 14 individual units - Exterior of the building is completed - Interior units are at shell stage of construction with $14 per sf to finish the interior - Est ARV = $1.08m (conservative)-
Price = $500,000

Venice, FL 2/18/2010
Bank owned lakefront 3.4 Acres on Lake Geraldine $75,000.
Located in a luxury home community in Venice, FL with white sandy beaches just minutes away. - Community features a boat slip for quick bay access - Next door neighbor is an $1.5m estate home - 08' Tax value is $173,900 See me for photos and more information. Great for a self-directed IRA. Won't last long.

Contact me if you are interested:

Nashville, TN
24 Unit Building - all 1 Bedroom Units
ARV: 780,000
SQ FT: 14,789
Top industry is healthcare and all US leads
Value Play - Low Rents

Here are a few deals in MA, let me know if you are interested, but don't wait too long...they will not last!

Gardener, MA
PRICE: $103,500 offer
ARV: $199,000
REPAIRS: 33,000
BD:8
BTH:3
unit 1 $650
unit 2 needs about $1800. in repairs ready in 1 week rent @ $750.
unit 3 needs $10,000 in repairs was rented for $1000

Fitchburg, MA
PRICE: $110,900
ARV: $130,000
REPAIRS: 2,000
BD:6
BTH:3
SQ in FT: 2760
This property is fully rented and cashflows!

Lowell, MA
PRICE: $161,000
ARV: $240,000
REPAIRS: 40,000
BD:6
BTH:2
SQ FT: 2200
Offers in from several people. Will move fast after repairs. Not many like it in the area.

Springfield, MA
$149,000

Hi DG Family,
My name is Tony I Live in NC and I'm just getting started. If someone good advise me on how to approach my deals consider multiple exit strategies, then execute the process I would really appreciate it.

Deal 1. 3bd 1ba 1107 sq. ft. seller owes $18,750 (mortgage $375 mo.) to private investor. Behind on Taxes $1,166 ARV $53,000 house is vacant.

Deal 2. 2bd 1ba 935 sq ft. seller owes $9860 (mortgage $264 mo.) to private investor. Behind $600 on taxes, property occ. tenant pays $450 mo.

Seller recently divorced, needs cash.

Thank You,

I must admit, When I first started all this I didn't think I could actually do deals O down and with no money. Boy was I wrong. I have now used several different strategies O down. I had no choice but to do this when I first started And now I do them because I can. On my latest deal today that I closed is a new house for Julie and I. After it was all said and done i bought it with a sales and purchase agreement with owner financing. I gave 119.000 He owed 104.000 FMV is 154.000.I am making his payments for him, I owe him a little over 13k NO interest to be payed whenever I can or at closing if I decided to get the loan in my name in 2 to 3 years. I wanted to see if I could find a deal like this and get it done in 24 hours.

If anyone has deals in Rhode Island or Massachusetts I have buyers! We can partner on the deal and share in the profits! PM me for more details and post a reply here so I can keep track of everyone.