My Deals

Asking $42,000

6 bed 3 bath 2126 Sq Ft

Rent Ready approx. $1,000

If you want to buy, fix and sell then all that needs to be done is to update the kitchen and bathrooms.

Taxes - $1313

ARV - $75,000+

http://www.postlets.com/repb/9702110

This was an MLS listed Estate sale. We negotiated a buy price of 278,500. I put the deal out to my buyers at $285,000. There was not much margin in this deal but I will take $6500 all day long. WELL, so I thought. No one wanted the deal at that price. I had an offer at $275,000 from one of my very good buyers. A $10,000 price reduction was needed. I asked for it and the seller came back with an $8500 price reduction. So in order to make this deal happen I knocked $1500 off my fee. There was the $10,000 reduction my buyer wanted! We signed the assignment contract with $2500 non refundable earnest this morning. Closing is set for Wednesday Sept 11th.
So, I made $5000 on this one. First deal of September.

I gotta go make some offers!!

Michael

After beating out 7 other bidders the bank owned property is MINE! YAY!

I won the bid because I was able to close within a week! Luckily I had the edge and won the bid and the property.

This is a very competitive industry and we need to be on top of our game. Dean teaches us so many strategies to help us all have that edge.

I'm so excited about this rehab. Here are the numbers:

FMV: $186k
Rehab: $17k-$22k (I'm thinking $22k)
Purchase Price: $115k

Here we go!

I DID IT!!! Finally my first deal!! Thanks to the success academy and this website. The strategies work and persistence pays off. Follow up follow up follow up is the key. A nice 4k income. Thanks Dean!! You've changed another life!!

DEAL DONE!!!!

Yesterday our latest wholesale deal was completed. We assigned it for 8500.00 CASH!!! I think we make wholesaling harder than it is. We got this property under contract on 8/22 and sold it on 8/28. DEAL DONE!!! Now I have other people says now why did you let me have the deal!! LOL

Hey everyone. The name is Stan and I just wanted to share my first deal with anyone that cares to read it..

Well, this is how it started.

How it started.
I knew a good friend that had a property that they were not doing nothing with, so I offered to help him move it.

The property was a burned down shell that he originally purchased from a sheriff sale in a somewhat suspect neighborhood.

Here is what I did. 1st, I got the address and placed it on Craigslist and then within minutes someone called my cell and ask to see it.

So I met him the next day, but after we went inside they didn't want to purchase it but he offered to help me sell it to one of his buyers.

http://animoto.com/play/sqixsBGe90bFW011LyjQzA

The above is a link to our latest deal. All we are doing is putting people together here and making a few K for doing it...

Closed another wholesale deal this morning. Walked out with a $10,000 check. Got it off the MLS for $415,000, assigned the contract to my buyer for $425,000. August has been a pretty good month so far

$29,000 Wholesale fee. LLC transfer. 25/1
$9,600 Co-wholesale. Networking
$2,000 Co-wholesale. Networking
$5,000 Co-wholesale. Networking
$10,000 Wholesale fee, contract assignment. 25/1

Total so far in August - $53,600 closed and collected.

Got one under contract that does not close until Sept 23. Co-wholesale. $6,000. Networking

Grand total of $59,600. Not a bad month, maybe 20 hours total time in all 6 deals!

Every one of these was a zero money out of pocket deal. What Dean teaches is REAL and WORKS period.

This morning was a great morning. I just found a new investor I am now networking with. He is a stud and sold me a deal this morning.

It is a mobile home that is really in good shape it only needs a few thousand in rehab and I can put it back on the market and triple my money with it.

Here is the real kicker. I told my investing partner that i'm going to slow down on mobile homes and just focus on wholesaling only. But networking with this new investor I have been re-invigorated to work harder at it and create a better system to flip them quicker. they are easy, easy deals and they make a ton of money ROI.

I am on a really big high right now and am excited for tomorrow, I get a whole day to just work on my real estate business.

I had fallen off from doing my 25:1 strategy for awhile, but guess what happened when I just started it back up this week?!? Oh weird, we got a deal under contract :)I don't know why I get sidetracked and stop this formula, cuz it REALLY WORKS!

Here's the deal:
It's a shortsale, 4/2 2 car garage, 1500 sf, under contract for $102k.

SOLD comps in the last 90 days and half mile radius: $210k, $170k, $170k, $165k, $164k, etc etc

Now just have to decide if I want to keep it and flip it, put a renter in it on L/O and cash out refi or just wholesale. I'd have to say every option is a great one!

Thanks Dean!