My Deals

hey all - new to the site

- considering my first deal, but a little confused...

Hi,

I finished reading Dean's book yesterday. I have 4 deals in the hopper already.

I am currently unemployed due to a work reduction and my severance package will run out in July. So by August I have to make a significant change or it's goodnight Irene.

So anyway back to the deals I have.

Seeing the previous blog about closing on a 3rd property prompted me to tell our success. We just closed on our 3rd house. We got Deans book in October and listened to Matt's call and got busy. We got the first in Dec. and had it rented in Jan. Got the second in Feb. and renovated it and it is rented with tennants moving in this weekend. The 3rd needs minimal work and hope it rents soon. All houses were bought at about 30% FMV, hoping to do a rent-to own on this last one (maybe the second). Does anyone have ideas about marketing it that way instead of just putting a sign in the yard?

Quick Question (Maybe) Got Dean's books 4 days ago and absolutely devoured them. Actually my husband ordered them, and I figured what the hell - might as well try - don't have anything else going for us... Anyway I have been reading the forums, and posting to Craigslist....Which is an AWESOME housing find.

Anyway, I was wondering if anyone here has had success connected sellers and buyers that are on Craigs list - because add that element to Dean's words...and let's just say I have been awake for more than I care to be cuz I'm trying to get going on this....

BUT IT'S WORTH IT

Hello, Hope all is well

I'm ready to make some purchases, but before I do I would like to get feed back on your opinion in buying a house in a not so good area? the FMV is $80,000 and the house are being sold at $20,000... I see it as a great cash flow opportunity and rent it out to section 8 which is government housing program.... What do you think?

Thank you

Opinions please! New to real estate and in NY area. NY area is fulled with houses for sale but asking prices are way above FMV. I am currently searching for a month on weekends, with agents and a few brokers. I still cannot figure out how to get 25 offers out a week as agents will not do this if I don't agree to walk through or they look at me like I have two heads.

Hello ALL!!

Obviously one could tell Im a rookie by the subject headline. I've been reading the Profit From Real Estate book nonstop since it came in the mail 2 weeks ago. Best thing I ever did! Im almost about wrapped up with it and already I have 2 potential deals on the table I need questions answered on before I move forward and start making my offers. Anyone who chimes in with input would be GREATLY appreciated!!

1st Deal question

I am totally amazed - many of you will remember my frustrated posts about finding a deal here in Jersey after my first flip house. Well, after my long distance assignment with Rina, and reading the new book, something changed in me and I decided to stop analyzing so much and just DO. So while I wasnt really comfortable putting out offers without seeing the houses first - the other way sure wasnt working and was extremely time consuming.

I'm so pumped up. I closed on my first deal and it feels great! I read Dean's books about 5 weeks ago, and now I own a property that is now locked up in a 1 year Lease W/Option to buy. The sale price on the lease is $22,000 over my total cost in the home and I'm making about $100 a month positive cash flow on it.

Alright - I am new to this whole thing and am still awaiting Dean's book.
However, on the Foreclosure Finder I think I found too good of a deal to pass up, can you guys help me figure this out.

FMV of two unit place for $180K, listed at $159 (will try to get for $130 or so), but even if I don't the mortgage would only be $900/mos.
One rents out at $1100/mos and other has someone moving in 4/15 at $900/mos.

So, rents at $2000/mos and mortgage of $900/mos is a good cash flow of $1100/mos.

Even though I have no idea what I am doing, is this too good of a deal to wait on?