My Deals

Hi evereyone was doing some driving around a couple of days ago and thought I found some vacant houses, two side by side, Iam out and about at 5am, so this morning I go buy and there are lights on in one home, both homes have grass at least 3 ft. deep, so what a suprise and there both in good areas of nice homes, Ill bet someone may live in the other one as well and I plan to find out too., Jim

Again; another bandit sign lead, but this was the Seller’s parent’s home…the one he grew up in. I just LOVE band it signs!!!

In early May; got a call from the VP of Deacons at one of the local churches. He said that a member had his parent’s home that he was tired of paying taxes/ins on and was thinking about donating it to the church. The Deacon said he thought he’d just try and give me a call.

This one was a 3/1 All-Brick Rancher built in 1955 with 100% hardwoods, and a large, 100 x 250 lot…in a pretty good neighborhood (for rentals). It was in need of a roof, plumbing & elec (all ripped out), AC unit replaced, and updated kitchen/bath, painting, etc….about $18-$20K.

Well I guess they can just start calling me the trailer king. Even thou we said that we would not do another trailer in the park we just did. Lady husband died two years back and now she needs 24 hour care and the kids live in San Jose so she has to sell. As a side NOTE here always deal with the kids when it comes to dealing with older people because there are way too many things that can go wrong in the deal. So, back to the deal: We bought a 1974 double wide in a senior park for $5,350 with washer and dryer (new), frig, frez, dinning room table. We will have to put $6,000 in upgrades and repairs and we will sell it for 29.5k with 10-12k down and finance the rest at 8% over five years or less. We helped the family out and made it a great deal for all.

This was a deal I got under contract on 4/18. Yes, I know; a little late in getting my deals posted. I must improve on this and “celebrate” in a more timely fashion…I have no excuse!

This was another bandit sign lead and again; a “Tired Landlord” trying to get out of the Rental business. The house was a 3/1 in a strictly “Buy & Hold” area. It needed about $12K in rehab…roof, a little floor jacking and the usual stuff. On the phone; the Seller was asking $8K. Met him for the walk-thru and we settled on $6K.

I blasted it to my Buyers at $8,500 and got a LOT of tire kickers! Can you believe that…on an $8K house!! Thought I had it sold to a Canadian “guru”, but guess he was kicking tires, too. Lol! That’s another story!!

I met this fellow wholesaler through another wholesaler I do business with. NETWORKING!!! He had the property, I brought the buyer. Contract assignment done quick and clean this morning. My fee was $9600! I met the wholesaler that made the introduction at a REI meeting.
Just like Dean teaches, get out and meet people face to face. This is a people, marketing business.

Here is the KICKER.. My buyer is a husband and wife rehab team that I have supplied 10 houses to in the last twelve months. We ran into each other in the parking lot of the title company before closing this morning. The wife reached in her pocket and handed me $1000 in cash and said thanks for everything you do, it is so nice to work with someone we know is honest.

8-Plex in the Encanto District of Central Phoenix.

Gentrifying neighborhood. Subject property is Next door to 3 brand new infill homes.
Recent Improvements:

Roof Work (2013)
Exterior Paint (2013)
Interior Paint (2012)
Interior Kitchens and Bathroom (2012)
Building is SOLID

Suite Mix
2- 2Bedroom/2Bath
6 1Bedroom/1Bath

Current Rent Roll: 100% Occupied on Year Leases (Some units can be increased)

2 Bedroom: 600
2 Bedroom: 600

1Bedroom: 509
1Bedroom: 509
1Bedroom: 509
1Bedroom: 509

1Bedroom: 509
1Bedroom: 509

Total: $4,254 Gross
Utilities: ($330/month) (water) Tenants pay own electric
Taxes ($125.30/month)
Existing Property Mgr @ $100/month

Total Net Cash: $3,698.70/month
$44,384.40/Year

New River, AZ

SFR 3bed/2bath; 3,648sq/ft on 6ac; built in 1979; Arizona
Great for Buy-n-Flip, Buy-n-Hold, or Owner Occupant

ARV 355k-399k

Cost of Repairs 5-10k

Purchase Price 308,000

Rent 1500

Tax Assessed at 1,773

PM Melissa if interested or know any cash buyer that would be!!!!!!

25 to 1 is ROCKING! WE have a pipeline of deals under contract or that we are countering on. We are making around 100 offers a month using the 25/1 system.

Dean and Matt teach the system, WE JUST HAVE TO DO IT! My agent has been paid on almost $2,000,000 in real estate transactions over the last 8 weeks. Obviously, he has no problem pulling comps, he doesn't object to me wholesaling!!

Michael

“What was that?” , as the speedometer went from 45 mph to 5 mph so I could do an illegal U Turn on a major road. Surely the guy behind me flipped me off, I sincerely apologize. However, I flip houses and contracts , which is no excuse for the illegal U Turn.

Looking to my right was a lonely house with a bright green condemned sticker and scheduled to be demolished by the city. The house said to me “please help me”. I agreed to help the house.

I need help asap. I've only have till Aug 6th to seal this deal.
I have my 1st deal on the table and called my attorney to ask if he would look over the "Assignment of Contract" before I faxed it to the buyer (via Realtor/Broker). To my suprise he says he doesn't do anything like this and that the state of Illinois frowns on it. Not that it's illegal but because he's never done it he won't start now. I then called him back to ask if he would handle a "Dbl Closing" and he said same thing applies. He won't get involved for the same reason and that the Title Companies don't like to do them. What in the world. I'm flabergasted. I just knew that once the contract was signed all parties (seller/me/investor) can all go home happy.
Please advise. Thank you
housenegotiator