My Deals

Last weekend, (3/13/2010), I looked at about 10 REO properties in Lakewood Ohio, and submitted offers on 5. Most of the offers were below list price and WELL below FMV. One of the properties was listed at $59k. It's a nice 3 bdrm 1 fb with a 2 car garage. I offered $49k cash. After a week of fierce negotiating they accepted $51.5k. The bank was really pushing to get the sale price up to where they had it listed, but I stuck to my guns!

The house could be lived in as-is, but needs to be updated to make it really nice. My fix up estimate is about $40k to make it picture perfect (windows, siding, kitchen, bath, landscaping, HW floor refinish, AC, and paint) Similar properties on the street are selling between $110k - $125k, so I think I got a really good deal.

Option 1:

Here it is, I have been working on real estate for now two years and now I just got told about a deal of a life time that was offered to me and only me as of yesterday. This deal is going to be the biggest one that I have ever done and its a huge under taking but its pay off is a killer.

This deal I will be getting for about 210k and the properties that are in the deal, I can sell a few of them and get my money right back. but here is the deal I will profit almost 100k in the long run just for being in the right place at the right time.

Hi Everyone,
Been a while since I have been onsite. I have been desperately trying to complete a first deal. Got to a down point,but thanks to a very helpful seasoned investor from this site,I got back on track and it seems like some things are starting to happen.
I took Dean's advice & got an 800# from COA.One of my extensions is about me buying houses.I posted an ad on Craigslist about buying houses and gave the 800# extension with my recorded message.Yippee!Someone actually called about a property they want to sell!It is another investor and I contacted her to get as much info as possible so I could do my due diligence.
Forgive this long post,but Anita recommends that we provide as much info as possible.

Signed a contract on my first deal today. Estate Sale 3 bed 1 bath ranch, FMV $179,000, paid $125,000, projected rehab $10,000. Not sure whether I will rent or flip. Renting would bring a positive monthly cash flow of $350. Profit on flip could be anywhere from 20K to 30K. Thanks Dean for the motivation and knowledge to take this first step.

I've locked up my 1st deal, thats right. i'm looking for investor to take over my 1st assignment purchase. 5 homes ,4 properties. investor needed. I love this game. p.m. me for details. I read 2 of deans books, working on the new one, "YOUR TOWN YOUR REAL ESTATE PROFITS". Thanx to my DG partner, i can read it anytime i want. thanx DEAN," I LOVE THIS GAME." I read the topic forum everyday. i'm learning to navigate through the website, so I can be teachable. thanx "INDIANA JOE", FOR HELPING ME TO SEE WHAT I NEED TO READ EVERYDAY. All the info. I need to find at my fingertips. Now I know, where to post, I can share my experience, strength, and hope with everyone. We all need help, to meet our goals.

I have a property in Brockton, MA that is free and clear with no mortgage, but is in need for rehab, I am looking for short term investor, I have a package put together with all the property informations, and how this whole project will work. Anyone interested, please email me or sent me a PM so I can send you all the info. 10% interest is offered.

Hello DG family. Today I recieved two shocking but welcome phone calls, I had a real estate agent contact ME for partnering up after I called his automated number. I literally couldn't breath I told my boyfriend the good news after I composed myself, and had a stiff drink. lol

So I'm preparing a presentation for the agent when I interview him this wednesday, when all of a sudden I recieve an e-mail from COA solutions saying I've already got a message! I've only had the 800 number service for 48hours! Now THATS results.

Now the seller is 3 months behind, property is in a good location next to a grocery store, It's at most (according to her) worth $150K however her roof is leaking in her daughters bedroom (poor kid) and the estimate for repair is $3,700.

Wow, this week has been crazy, my first offer was accepted and the feeling felt really good. Talking to an agent that knows what you are trying to accomplish is always an awesome feeling...I just cant explain the feeling in words its so AWESOME. The problem with this deal is that we have a investor ready to go, but within hours of signing the contract he backed out. I asked him what was the problem (knowing that this investor has CASH so we were TOLD) he told me that he didn't have the CASH and his financial situation was not as great. Why would you go through this entire process and then back out. As of right now we are marketing this home hope to find a buyer. I know now to have many many back ups so this wont happen again.

Looking for funding right away on a Single Family home that i have under contract;

Foreclosure under contract for $59K
Tax Assessed at $135K
Rehab Budget of $10K
Buyer that is pre-approved for $110K purchase price

This project is a 2 bed, 1 bath with full garage on a 1/2 acre of property.

I'm slated to close on the property next Friday the 12th of March and have just received news that funding is not coming through so I'd be willing to split the profits 50/50 for this deal. I would need to know by end of day Thursday or I will need to pull out of the contract and get earnest money back.

I have tried a couple that never came out as the offers were not accepted so I just moved on. So here is the next one. 3 Br 2 Ba around 1600 Sq Ft, nice neighborhood where the houses are selling for 90,000 plus, this one was recently lowered 10,000 to 58,000. I have some one on my buyers listing looking to rent to own on a lease option and likes this area as it is a good neighborhood and has people living next door he knows. After talking with the listing agent the owner has two more houses that he recently lowered the prices as well which all three are currently rented out. This property has been on the market for over 300 days so I am going to try an even lower offer than what he is asking and see how far he will go down.