My Deals

Hello DG Fam! I am working on my 1st deal and wanted to post my progress.

Over the last month I have been in communications with a couple looking to purchase a home. They where previously in a rent to own but where never able to exercise their right to purchase. Somehow the property was foreclosed on underneath them and they lost their investment.

Since then they have been very wary and unsure as to how they would be able to purchase a home. They make good money, have a solid work history, and a very low Debt-to-Income ratio, but little established credit.

Hey Everyone,

I am so ready to make my first deal happen, extremely motivated would be a huge understatement!

I want to make sure I have everthing in place to ensure it goes as smothly as possible.

What I want to be clear on is the documents and the order they are to be signed?

I have gone over them many times and I want to be completley sure I understand them before I sit down with the seller and buyer.

Also, how would I aproack a title company or real estate lawyer to submit the documents?

Any advice would be very helpful.

I am ready to do this!

Thank you so much!

I would like to figure out how to take ownership of this rental property that is being offered to me, but I seem to be having a hard time figuring it out.

It is 4 units with a monthly income of about 2500 and expenses between 500-600 dollars. The asking price is 172,500 but they would be willing to do a lease option with 20% down. Unfortunately I don't have that money either. Even if I can't take ownership I would like to try turn some money on this property. Any ideas?

Ok, I have managed to find a property on sale by owner for $70K
its a 4bed/2bath/2car garage
about 2264 sq. ft. on about an acre of land
its fmv'd from $176K-232K

Everything looks good with the deal, the seller is very motivated. The only problem I've run into is the fact that the seller purchased the property 4 years ago for only 30K. How bad will the previous sale price effect my margin to make profit?

I have a Lease Option chance I believe. There is a FSBO, that I found for sale $90k.Comps averaged about that in area. Im thinking that I can offer asking and make this work. If I were to lease option the property, I can give him his asking amount,i lease the property for $500-$700. Average rent in area is $900, checking comps, this property adds value because of extra room built in garage, and this home is ground level,others in are upstairs or attached unit. I know that its an investors sale, bought only in april for $25k,already rehabbed.

I have a seller with a 3bed/1bath sale priced at $39,995.
It needs drywall repair, paint an flooring...about 10K in repair cost.
I did some homework on the property and its value is about 70K.
The thing I am confused about if the fact that the Tax Assessment is 103K. Does this mean I cant bird dog the property because it owes more in taxes than its being bought and sold for?

Looking for any advice because Im eager to start the process, I just feel stuck.

I was just told by my agent that one of the properties agents came back and told here that "he is very angry at my offer." Now that is not the problem. The thing is that she is telling me that market here is moving fast and it is a high demand, so people are going in at asking, if not more.

My thoughts as an investor is O WELL, im going to offer what I need. But it won't make since to offer and come out on bottom. So what should I do in this situation?

Should I start offering more, move on to another agent, or continue on with what I am doing.

I have been advertising heavily in my local area and recently received a call in regards to a high equity rental property.

The owning couple is ready to retire and move to AZ (I'm in MA). They have 2 properties:

• Rental Property - 3BR/1BA. Just signed 12 month lease for $1650/mo set to kick off on August 1st. Want to sell property to investor. Property is fully paid for. Comps appear to put value of property at roughly $230k, though tax assessed at $266k (Zillow puts value at $305k!).
  

Hey guys just thought I would update you and let you know what I am working on right now!

4 4-unit apartment buildings. 2 are next door to each other and the other 2 are next door to each other on the next road over. They are 1 bed 1 bath pretty nice size. They are 50% rented out right now at 500/mon. The owner is a doctor going through a divorce and just wants to get rid of them now. They comp out at around $130,000- $150,000. He is asking $110,000 I offered $70,000. So we will see what happens. Going HML on these if I get the offered accepted.

Jan and I just closed on our 1st 4 unit property yesterday. I just got back home after spending a beautiful weekend at my partner Jan Malek's house in upstate ny. Headed up on Friday night and within an hour of getting up there Jan was already driving me around town showing me some potential props. We looked around for a while and called it a night, it was late.