My Deals

So here's the topic. I haven't even received the book '30 Days To Cash',,, yet I started researching online and read the first 3 chapters that Dean sent to my e-mail. I did what Dean says to do by telling friends and family about being in real estate. I found a buyer, and I found a property today for a good price. I am going to look at it tomorrow and send the guy a fair cash value. It's all rite there. Now I am scared to death of messing this up because I haven't read the BOOK!! lol I know I can do this and I know I can make money on this deal. Why am I so scared???

Just wondering if there are investors on here looking for rentals in OH. I have a good cash flowing deal locked up if anyone is interested. Contact me if you'd like more details (pics, comps etc) but here's some numbers:

Price: $89,318

Monthly Income/Expense
Rent: $1200-1400

Taxes: $230
Insurance: $100
Management: $96*
Maintenance Fee: $50

Total Expenses: $476
Cost of Mortgage: $354*

CASHFLOW: $370-$570
ROI: 18%-27%

*Based on 8% of gross rent
**Loan amount 75% of purchase price - $66,989 @4%
ROI based on 25k investment

This deal is a great example of how important it is to follow up on rejected offers!!

My first offer was on Dec 8, 2011. We resubmitted four times. Offer finally accepted the first week in MAY!!!
If we had not chased this one we would have not gotten it.

Organize your follow up system!!!

Numbers

Accepted offer of $30,000
Sold to my buyer for $42,000 plus all closing costs.
ARV $150,000
Rehab $50,000

I made $12,000
My buyer will net around $40,000

My buyer- husband and wife team of active fix/flippers. They do around 40 properties a year. Called me this morning on three properties I have under contract. I won't have to send these properties out at all more than likely. I use my websites less and less these days!!

Michael Mangham

Hi all.

I need some advice here. I have a seller that is moving out of town; has no equity in the property; behind on 2 mortgage payments(another one due in June). One major advantage: it is located in a great neighborhood in the most desirable part of town.
Seller just wants out.
What can I do with this property in Texas? I already spoke to the bank and they will not accept a short sale(small local bank). I would appreciate any suggestions.
Thanks in advance.

Breakdown:

4/2/carport
Brick
ARV-$110,000
Repairs-$8k
Payoff-$110,604

Joseph

I'm going out in about 45 minutes to meet with my first agent to look at a couple of properties to possibly make my first offers. I'm very nervous that I'm going to say the wrong thing, but excited that this is becoming a reality! Wish me luck!
Amy

I am not sure if I can ask this or not, but I am trying to see about how to close on the properties in TExas, and is is legal to assign afterall. However, I wonder if anyone has any knowledge of the Torok Law Firm. A non attorney was calling me after I sent an email, and it was high sales the whole time, and telling me if I got knowledge anywhere else I was likely to get sued. Hogwash. Wow, now I am not sure I want to use them althought they are investor friendly. They were even telling me how I could partner with others to do my deals. They sure wanted my business.

Make yourself attend your local REI Meetings! I've been attending a wholesaling meeting for the last 6 months. It has never been great in terms of info and meeting people. I missed the last 2 meetings because I was out of town. I was tired on Thursday but made myself attend. It was great. The sponsor changed the format and there was the biggest turnout I've seen there. We all introduced ourselves in the beginning, talked about hour experience and what we were looking to gain from the meeting. I explained that I was an investor looking for deals with a minimum 15% ROI, in need of a good mortgage broker and PM. At the end of the meeting I had a ton of people approach me. This was great because I am actually shy and hate networking. I know...

$ 11, 469 in my pocket !!! Sorry for not being online lately, have been working hard and loving every second. I thought i was going to drop the check, was shaking so bad. Found a great agent and title office.
I am truly blessed. I have made 36 offers to date. Thanks everyone for your help and support, especially you, Dean !!!
I will see you in Harrisburg, Pa. In June for the Edge event !!!

I have found a lady that called my signs and she lives here, but her mother lives just over the state border in Texas and they have a lot of properties they want to sell. They are valued well above what they are asking, so I am thinking about checking them out. I called the local police dept in Texas but they said they couldn't give a crime report without me writing in asking for information under the freedom of information act. Not even sure how long it will take them to get around to it. I know there is crimereport.com, but I haven't had success with this. How do I go about finding more on the area?

Atlanta investors: I may have a property with land in NW Atlanta. House is currently not livable but it sits on a 1/2 acre lot. Near Grove Park so they are building up the area nicely. Let me know if anyone is interested. Tentative price is $10-$15K.