My Deals

I have a deal that a gentlemen is going to sell me. It is a cabin on 76 acres and he owes about 5 months in payments. He had trouble with his job and needs releif. Anyways I want to buy this property subject to. He is willing to sell it to me for what he owes and I will catch him up and take over his payments. And he owes about 85k and it is worth about 110k or so. My question is after I get his mortgage info with his balances and everything on my purchase agreement, and I get my limited power of attorney signed. Where do I take the paperwork? Title company for a normal closing? County maybe? Please help if you have this experience. Thank you.

Dennis

We have the property under contract currently as a short sale for $78K including earnest money ($80K to close) and there is already a higher back-up offer in line.

Location: 4844 Daisy St #B, Oakland, CA 94619
High owner-occupied, low turnover neighborhood between hwys 580 and 13, between the Upper Laurel and Redwood Heights neighborhoods in Oakland (right at the beginning of the Oakland Hills) and minutes from 580 or 13 freeway entrances.
1bdrm/1ba 556 sq ft condo with working washer/dryer in unit.

After Repair Value expected to be $130K, based on price per sq ft in this neighborhood, which averages $363/sq ft. (We have this unit under contract for $126/sq ft). Rental comps in the neighborhood are about $1100/month with in unit laundry.

Closing on my second deal tomorrow 1-14-11. This one is a single family home that was a reo. Took two months to get them to agree to my price but they finally did. Bought the place for $43000 and it appraised for $65000. I plan on painting and cleaning the place up and then put it back on the market.

I got 100% financing on this deal. I also am getting money back which I was not expecting.

I know I do not post much on here but I have been reading and studying and it is now paying off. I have learned alot from this site and I know deans strategies work. You just have to take action.

There are all kinds of deals out there you just have to look for them. Once this deal is closed I hope to have another to work on. I am working on putting in several more offers shortly.

If anybody is interested let me know.

We're supposed to close last week but for some reason, the buyer requested for an extension but is open that if we can find a new buyer, he's willing to give up and negotiate with us his EMD of 5k.

This is a 12 Unit Apartment, located in one of the famous areas of Baltimore, Maryland called Fells Point, Eastern Ave. The top floor was burned by a fire about 3-4 months ago and needs a rehab. It has a 2 unit commercial in the ground floor. I have with me the contractor's estimate.

If anyone here is a cash buyer or have a Hardmoney and can close fast with POF and EMD, please PM me.

200k Only

Blessings to all. LA

Hello, I not to long read Dean's book and decided to take some action. I got on Dallas Craigslist and found a seller with these details:

Bed/bath: 2+1
Asking Price: $12,000
Owned Free and Clear.
Vacant and boarded up.

I am trying to figure out what to offer. I am having a time finding comps, etc. in that area (it's a lower priced area).

I would like to try and flip this house to another investor. Any ways to help find comps in the area?

Hi All,

I ordered Deans books about 5 weeks ago. I logged into this site 3 days later, I think i've read almost every post since then. Thanks to all who contributed their knowledge to help me get to this point. I think I have a good deal in the making.

Here are the particulars: Gas heat, fireplace, updated kitchen, central A/C. (needs new carpet $ paint)

3br, 2ba
1 car garage
1250 sq.ft. ranch
no mortgage or liens(title search will verify)
Tenant occupied, rent $735 per mo
Asking price $30,500 (thinking of offering $25,000)
Estimates from 3 sources $26-60k
Comps $40-120k
Tax Assessment $102k

I left a voicemail for the seller asking if the property is still available.

I have a buyer/Investor from my Craigslist ad that is looking for "SFH that are cashflowing".

Hello everybody,

My name is KO and I'm so new on here it's very intimidating to say the least. Have read alot of good posts throughout the DG site, very informative for sure.
I've only read one of Dean's books so far (PFRERN!) just completed it a few days ago and my head is still reeling from information overload LoL!

Today my wife and I got online and searched our local area for houses to look at (REO's, Foreclosures, FSBO's, etc)

We picked out 5 to drive around and look at, just to see what we could see, just trying our hand at seeing if we could spot potential deals.

Hello everybody!
My first deal occurred back in March 2010 (I know that I'm late getting this posted). I purchased a foreclosure:
3BR/2.5BA/approx. 1300 sq ft/built in 1990 for $42k. I put 20% down ($8400) and approx. $15k in repairs. I financed $33k...My mortgage is $321.00/month. The appraisal before repairs was for $55k. I placed bandit signs in the yard to be rented for $900/month. I have a tenants in the home as of 1 July 2010, renting it for $850/month(they pay all utilities). My monthly cash flow is $529.00

I've been saving for my next deal...which I'm looking to make happen in March 2011. I'm trying to buy and hold as many as I can until the market turns around.

Just wanted to contribute to the DG family. I have been trying to wholesale for about 5-6 months. I have just closed 1st deal and this is how it went.

hello fellow dgers !! I just thought i would share the details on a deal that came about from getting my business card out there and using deans free website and advertising the heck of myself..
IT starts with my name on truila as a local real estate proffesional and dont ask me how it got there but i BELIEVE it was from owning the sfl system but anyway it is on there for my local zip code and town .
i recieved an email stating this person had a lot in my town and was wondering if me being a real estate professional ,would i be interested ?I replyed back to find out the address.This person stated that him and his brother owned it and both lived out of state,one in florida and one in california.