My Deals

Another deal under the belt...

I haven't actually been marketing for deals in awhile due to a recent career change. However, because of momentum and some existing marketing I had in place on CraigsList I now have a deal under contract for $25,000. It's ARV is $65k and I'm asking $33K leaving a lot of meat on the bone for my investors, plus pocketing a nice Christmas bonus for myself. Only needs paint, carpet and a couple minor updates.

2 Bed
2 Bath
Partially Finished Basement
Outdoor Storage
All Brick
Large Deck
Large Yard
Great Location in St Louis, MO

If you have an investor who might be interested let me know. I haven't moved this property yet. I'd be glad to share an assignment fee as I only have about 20 minutes wrapped up in this deal anyways!

Thanks!

A Win-Win for Buyer and Seller! I was transferred and had to sell my personal home in a down market. Moving out of state, I didn't want to rent my home out and have to travel back and forth to check on it. Property Management companies in Santa Fe, NM were very expensive. They charge $500 just to write the lease!

I purchased this small 1017 sq ft pueblo style home in 2007 for $222,000, typical for Santa Fe in a good market. In today's market, realtors were quoting me $150,000 to $180,000 sales price range! I still owed $212,600 on the home and had no room for a commission.

I tried a For Sale By Owner sign in the yard for a few weeks…not one single phone call!
Next I posted a standard ad on Craigslist for sale at $215,000…again not one single call!

I have a two bedroom 1 bath steel frame home on 10 acres close to a lake, and needs no repairs or the like. It is appraised at 125,000 owners want to sell due to ones health problem and was built as their retirement home. As for comps thee have not been any places in this area sold for some time. Found one place in the internet that found a property close to this one and came up with a fmv of 75,000. Even the local real estate agent has nothing in the area to compare this property with either. I think the only one that could even get a comp is the appraiser but they appraised it a 125,000. Owner tried to do a rent to own but then the person wanting it could not get the loan for it.

....I often discuss the power of a really good email. There is another big secret when it comes to finding deals in your area. That secret is driving (your neighborhood) for dollars! All you have to do is get in your car and drive your local area. I often try to keep up with the homes that are listed in my target market area. By knowing what is on the market, for how long and and the amount it may be listed or sells for will give me an edge in making my offers.

I was actually surprised my partner didn't make a post about this! Haha, it's been 2 days since we FINALLY closed on our first deal!

Just a note that I don't remember the numbers EXACTLY, but she does so she will probably post them below

I will use rough estimates for ARV and Repair costs.

Anyways, my partner investorinmissouri found the property down in Kansas City, and the owner was asking about 13k if I remember correctly. It needed about 10k repairs and was worth about 30k ARV.

We ended up offering 4k, that got accepted pretty fast so we ended up buying it with cash in full. We put it on the market for 12k and found a buyer in 10 days. The only problem was that the buyer we found wanted to borrow against her 401k to purchase the property.

Ok Chicago people:) I have a list of over 20 SFR that are for sale 50% or below mostly in the 30% range. I also have a 10 unit building, 2 flats, and 2 MFR available. If you are interested or you have buyers that are interested in chicago or Harvey. Please PM me I will send you all the info I have on them. Lets work together and get this going:)

I have a home under contract in Albuquerque that I am not going to purchase myself. However, I am wholeselling the property.

The property is located in the NW area of the city. Nice area.

The price for the property including my fee is $57.14 per sqft or $120,000.

The comparables average at $92.23 per sqft or $193,683 value.

Conservativly the value is $183,000 to $185,000.

Anyone interested let me know.

Cashy only. Must close before December 6th.

After 2 years of being a member here at DG.com I can finally proudly say that I DID IT! Here in Southern California. It was an REO purchased for 200K little bit of TLC, just sold for 260K(after the first buyer fell out of escrow, 2nd buyer w/ VA loan) recorded, closed, and collected the net proceeds which was $39,228 and some change(Im gonna push myself to finally get that real estate license because I could have saved so much more from fees:) I GOTTA SAY THAT WAS ONE OF THE BEST FEELINGS IN THE WORLD, to walk out of escrow and to see that check for that amount and it's REAL. To all my DG family that has been grinding it out for a long time and not made a deal yet DON'T EVER GIVE UP!!! I promise to myself the next one will be so much faster now that I got some ammo...

I am a new REI and I have come across a deal that I cannot refuse, but I need some guidance (or buyer) on this one. Here is the deal:

Wholesaling is so quick, easy and risk free!! Get the cheap properties and flip them to rehabbers and landlords for quick money. I would rather make $1,000 over night than make $30,000 doing a 3 month rehab!! Which has the higher ROI?? Which has the most risk? Don't get me wrong, we do rehabs also, doing one right now!
Anyway, here are my two deals this week. Both came from networking with fellow investors this time. I had two investors looking to sell their properties. I had two investors buy those properties. Both close Nov. 29th!
I made a $1250 marketing fee on one and a $1500 fee on the second! I have about 2.5 hours total time in both deals!