My Deals

I have been working on a subject to transaction for nearly two months. The home's ARV is $200,000ish. 5 bed 4.5 bath. Balance owed is $157,000 with monthly payments of $1,209. Home is move in ready but needs some repairs. I put the home under contract via subject to. I advertised the home and found someone to do a land contract with a $5,000 non refundable down payment, monthly payments of $1,510 and a purchase price of $187,000. Buyer will do all repairs, pay 8% interest and have a balloon payment in two years. Move in day, 1/15/2013. The seller needed to find a new home, she wanted to buy. I put her in contact with one of my realtors. He showed her several homes. She was concerned that she couldn't get financing, so I put her in contact with my all-star mortgage broker.

Hey guys,

The past few days I have been calling bank after bank after bank here in the Phoenix area. I know there has to be a bank out there that will do no seasoning commercial refinance loans that are based upon the appraised price of the house, not the purchase price! Does anyone out there know of one? I will keep calling until I find one, but please save me some time and shoot me any information you might have!

Thank you!!!

Brant

This was a deal that we locked up almost a year ago from sending absentee letters out. The owner was immediately interested, as he was about to lose the home due to back taxes (at the time which were $5800). We locked it up for a little more than what was owed. The house had been vandalized and was in pretty bad shape, but located in an area that is being revitalized. Over the duration of the contract (we had to re-negotiate about 4 times)I showed the home to approximately 20 people. We almost gave up. I kept updating the CL post, in hopes that someone would call and buy it. Finally, it happened. I had a realtor who is also an investor call me. I told her to go look at it and make us an offer.

Hi everyone, I am currently working on my first deal. I have found three turnkey properties that I'm trying to wholesale Here's what my ads have said so far.

I currently have three single family homes that are all turnkey properties that I'm looking to sell. All priced around $30,000 with property management in place, current tenant, and no deferred repairs. All in good working condition in the Fort Wayne IN area. Excellent ROI on each property. Looking for a cash buyer. If interested please contact for more information. Please leave your contact information, phone and email, and the best time to reach you. 260-337-DOOR

Sorry NO LEASE OPTION or RENT TO OWN available on these properties

I made a pitch 2 weeks ago a the MNREIA meeting... send me your deals and I will get you a buyer. I may have overstated my position a little, because I said within 48 hours... but that's if i have a buyer who is pre-qualified for the property.

But a guy who heard my pitch sent me a deal he'd been working on, had sold and his buyer's financing fell thru... that was like last Thurs. Today I mentioned it to one of my colleagues and he said LOCK IT UP LOCK IT UP!

So I did. We close on Tues. Just doing the offer paperwork now.

So today I sold my second deal. My first was just before Thanksgiving.

That's not bad considering that I'm effectively brand new to this. The Co-Wholesaling model is really working for me!

On this deal, I've made about $7k. Once the foreclosure is redeemed I'll know the exact amount.

I found this seller via a bandit sign. Actually both my sellers thus far came in on bandit signs and both were co-wholesale deals. This is a nice rambler in a good neighborhood, we had it for $105k but it was too high for most rehab buyers, so I started looking for buy and hold buyers. I talked about this property at the MN REIA meeting and had some interest, and one of my colleagues from there is the buyer.

She's also a fellow DGer! Such awesome folks we are!

I have been approached by the seller of a deal I recently completed and have been asked if I can help her son. He is in a tough spot. He went through a divorce and is left with the house mortgage along with a 2nd that was taken out for ex-wife's business that ultimately closed.

He and his new girlfriend would like to downsize from the current home because it does not suit their current needs.

Here is the problem. He owes $163K between the 2 mortgages and the current FMV is around $89K.

Any suggestions on how I could possibly turn this into a deal where he could get out of his current house and I could make a small profit?

Hello REI Professionals,
I'm happy to present this beautiful Calabasas Fixer for sale. The property is located in the prestigious "Calabasas Highlands" with killer views! This property has a lot of potential and if done properly, the returns can be around $100,000! The property is "pristine" on the outside. The inside needs
work and upgrade. The property is vacant and ready for a savvy investor to take over and bring this property to its fullest potential for maximum returns. Here is the property info and estimates:

· 3 bed/3 bath
· Size: 3,250 sqft approx
· Lot: 10,250 sqft approx
· Basement
· Total lots: 2
· Large two car garage
· Property owned free and clear
· Asking Price: 425K -- 59% ARV

Well it has been awhile coming on this one. This is the house I wrote about in my journal months ago that I got for $10. I got the keys/deed for 10 bucks and and a signed form to talk with the bank. Six months of nothing I turned it over to the short sale company i work with and what do you know...75K for the house, needs 30k in repairs and the market is 180k. I just sold it 2 hours ago for 100k so i will make 25k on the assignment fee....I can get use to this. I am set to do 70k this month if the rest closes before the 10th. Merry xmas and GO GET SOME

Foreclosure redemption.

Since I can't post PICS here, go ahead and send me an email address or something and I will forward the pics I have. I have pics of the outside. The inside rehab needs are pretty well described below.

Quiet street, residential neighborhood. Oversize 2-car garage. 2 bedrooms and full bath on main floor, 2 bedrooms and full bath in finished basement.

Built in 1963.

This can be a C/D or a simple cash buy... that's up to you.

If you go the C/D route... NO MONTHLY PAYMENTS. In exchange for the down payment, my private money partner will float a note from closing till redemption period ends. Period is up in May.

Down payment: 32k
Redemption amount: 73k
Total purchase price: 105k

Buy and hold rehab needs: