My Deals

Question on deal I'm considering: 3 bd/1ba home ARV: $110K Current home: Has about $25K needed rehab (over the phone analysis, not in person yet...seller outright said $20K). They owe $54K. Behind by $1475 total to bank. Any normal situation, I'd be looking in the $40s on an maximum offer. Here are the extra details: Mom lives there but is dying...has a few more months. They are wanting to pay off what is owed, plus funeral expenses, plus a flat screen TV for Mom right now. They were asking for $13K above the $54K owed. That just becomes not do-able for a cash offer w/ rehab needed and ARV where it is. So trying to look at terms/lease option. They want $67K, $3K down, and want to keep the house for 3 more months before anyone moves in.

This one was as fast and easy as they come. Estate sale listed on the MLS for 1 day. Ended up paying $173,500. They were asking $194,000. $1000 earnest. Put it under contract with one of my buyers for $185,000. $2500 non-refundable earnest money.

ARV is $269,000.
Light rehab/remodel $20,000.
Selling/holding costs $26,000.
Net profit to my buyer $38,000.
I am doing an LLC transfer on this one one. I have zero closing costs and will net $11,500.

Three more under contract that I will sell while I am on a cool house boating vacation at Lake Powell. Taking all the kids and grand kids. All paid for with one deal!!

25/1 through an agent is the "Dean" technique I used on 3 out of 4 of these deals!

Thanks Dean!!

Michael

This one was a bandit sign lead I originally had under contract in early February for $12K on a 21 day contract w/$2K EMD due after a 5 day inspection period. Seller was a struggling “Tired Landlord” trying to get out of the Rental business. The house was a 4/1 2-story Colonial, 2100+ SF in a strictly Buy & Hold area and needed about $17K in rehab. I thought I could sell quickly at $14.5K with a couple of buyers in mind.

The two buyers I showed it to said that it was “too big” and thought that it needed too much work. It would put them over their “all-in” numbers and just didn’t fit their profile.

The house that I found driving for dollars last year finally closed and I got an extra 1k from the short sale company Saturday in the mail. I made a total of 11k on the short sale that I turned into a wholesale deal.... ANd yes you can do that to a short sale....This is the one that the bank changed the price after we agreed and I got paid..I had to give the flipper back 15k and I was not happy about the bank doing that but I still made good money on the deal..NOW GO GET SOME

Fabulous opportunity; need 263,000 purchase price then approx. 75,000 repairs, ARV 450,000 have fabulous contractor ready to go, or use your own team!! 3/3 in most desirable area of Seminole

I am currently looking to try to assign a house in Omaha, NE. It is in an older, lower income part of the city. It is a 4/2 2-story, 1742 sq. ft. brick SFR. The intreaging part is the the owner also owns a vacant lot rignt next to the property. This brings his property to 100'x150'. I had my realtor pull information for the property, $90k. The assessed value of the vacant lot is $12,500. Below is the items that need fixed.

The roof has some shingles that need replaced.
The privacy fence is missing for a about 12'.
It needs interior paint all around and around the exterior window panes.
The kitchen has to be completly redone. The gas range is butted against the wall and creating a burn mark on the wall.
Patio awning needs to be replaced.
New exterior doors.

Hello DG family,

Now there's the BIGGEST lie I've ever HEARD! YES, ITS WORK! BUT... The title of this message is NOT TRUE in the LEAST bit! TEAMWORK. Build your network. I always trained my intern, now assistant by the way, that your NETWORK = your NET WORTH. Well GUESS WHAT? I have now officially completed DEAL #4 of the year IN SOUTHERN CALIFORNIA where it supposedly CAN'T BE DONE!

I have gotten a property under contract but the agent says I need to have the earnest money in by tomorrow so the company has it within 48hrs of the initial offer acceptance. I don't have the earnest money and i dont think i will be able to lock it up under contract if the company doesn't have it. I would have 7 days where the money is refundable but that's it. How can i prevent this from happening again.?

Thanks a bunch for everything.

Ok, so I fell off the wagon in real estate for a while but, I am always keeping my eyes open for opportunities. I work with a business financing organization and got an interesting call the other day.

A woman that bought her house for a dollar from her mother, and had it as a rental 3 years ago. There are major damages to it, and she is getting fines from the city because it is now an eyesore.

Comps are tough because it is a house that was built in 1900! I am thinking it is going to be a demo job. Newer homes are sellitng for 65-85k in a nice little neighborhood.

This is a highly motivated seller, and I believe i can pick up this property for less than the cost of the dirt under the house.

Hi all-

We have a duplex under contract in Milwaukee that we would like to partner on. The owner is willing to hold paper or we can do it as a wholesale deal. The units are rented. If you are interested please send me a private message.

Thanks!

David and Nicole Rhodes
www.creativeoptionsinvestments.com