My Deals

Here in NJ finding good wholesale deals has been tough with the market upside down. The buyers here are starving and the wholesale inventory is scarce!

Let me start by saying we are not allowed to put up bandit signs where I live or we get a large fine so I put a magnet on both sides of my truck that simply says " I BUY HOUSES" and my number.

Hello everybody. My name is adrian and im new to REI. I am working with my brother and we have been all into it and going hard. We bought Dean's 2 previous books and it has tought us alot and given us the confidence to begin working for ourselves.

Well I just want to tell you guys how everything is going so far in the beggining. We set up our automated system and started posting up flyers and bandit signs today. We also began looking for homes and investors.
We ran into a couple investers that are just looking to have their money work for them so we created a personal loan agreement contract. We also already have 3 appointments with attorneys in our area for the next couple of days. I feel that having an attorney is crucial, we have to protect our "check".

Hi,

Here are a few samples of what I have and I was wondering what the minimum I should accept on these deal is assuming light to medium rehab? Based on percentage or dollar amount.

Bed 3
Bath 1.5
Sq Ft 1176
Built 1947
Single Family
Estimated Value $274,400.00

Bed 3
Bath 2.5
Sq Ft 1578
Built 1988
Condiminium
Estimated Value $197,250.00

hello everyone, just thought i'd try to kill two birds with one stone so to speak.
i finally completed my first deal yesterday and as i was feeling all good inside and tickled with myself i started thinking, why didn't i listen to carol stinson when she visited my journal (no longer scared to succeed) and welcomed me.
at this time i was just starting out and my journal name was (tired of being scared to succeed).
she saw that title and jumped right on it. after she welcomed me to the site she said the best advise i can give you is "do it scared"!

We'll be closing tomorrow on the bank owned REO. 10 day escrow, with Thanksgiving right in the middle of it, kept everything working at top speed. Since the bank will do no repairs and no nothing... that part didn't hold us up at all. Today we had a little late afternoon scare when the Title company didn't finish doing the plotted easements, so the listing agent (REO agent) went crazy and threatened to cancel the escrow and keep our $5000 deposit because we'd already signed off on "any and all" contingencies.

been workin this one for mnths and FINALLY closing on a SWEEEEET deal.the house was listed at 65,000 then lowered to 59,900 ...i offered $25,000 and GOT IT after awhile !!!! this is a 3-4 bedroom home in a nice neighborhood that has a nice porch and a GIANT storaqe barn and garage !!! the owners are the children of two deceased parents.the children live in florida and the parents were in a nursing home so there were some leins on the property.the property is about 3 miles from my home in franklin county new york.

my buyer is still seeking condos in arizona !!! he wants a unit of 10 or more condos in the phoenix metro area close to shopping.He plans on reselling to snobirds in the canadian market.they will manage them while the snowbirds are away!!.wholesale deals are what they want!!
any deal that is brought to me will be shared in profit !!
jay

So I recently came across a 60 unit apartment complex in Ohio for sale by someone who holds a option on the property. He is asking $625,000. 53 1 bed/ 1 bath, 3 2 bed/ 1 bath, 3 3 bed/ 2 bath.

The NOI of $75,914 in the last year supports the price. The occupancy is at 67%. Management is being done by the owner in FL.

So you can see there's a lot of room for profit. I think bring in a local management company would increase its occupancy rate quickly.

Anyone buying in Maryland? Great Brick Property-Wholesale Waterfront property in Pasadena. Asking $285,000-ARV$475,000. For details pm me or send me an email on my website.

Everyone have a great day!

Jo Ann
http://www.willowstreaminvestments.com

This one is an REO.
The bank accepted the first offer with no counter! Could it be the 4th quarter, end of year lender motivation?? I think this is the first REO I ever picked up on the first offer! It was on the market for 122 days, Been in and out of contract twice. Started at
$159,900. They dropped it to $129,900 on Monday. I offered $110,000 And they accepted.
Had 3 of my top buyers in there this AM. Signed the contracts with one this afternoon for $117,500. Bank is paying all closing costs and title work on the a to b.
My buyer is paying all closing costs on the b to c.
We are also doing a simultaneous (dry) closing where his money is funding the a to b!!
Who says you can't wholesale REOs!
ARV is $185,000 Rehab/remodel is $25,000. My buyer will net $25,000.