My Deals

Just bought a wonderful property for 10k. We are managing the entire asset from fixinng it up to putting a great renter in the home. I didn't use a dime of my own money. We found a buyer and they closed on the deal. We made a 5k finders fee plus setup fee and we are keeping 50% of the ownership of the property. We will manage it but we will recieve 50% of the net income and when we sell it down the road we will get 50% of the net sale. It's a great deal for all involved. The opportunities are endless!

I looked at a mobile home yesterday. The owner is getting evicted from the park. She said it was for problems her boyfriend and his friends caused.

Here's what I think I know....

She's being evicted by Sept. 5

Trailer is a mess outside and inside.

Was a two bedroom but boyfriend tried to make a bar out of the second bedroom.

I don't have any experience with mobile homes but it appears to need to be gutted for the most part.

Lot rent is 235/month which includes water. Heat and elect run 130/month

She is asking $1,700 but I think I could get it for $500 or maybe less. I don't think she has any other options.

I think I will pass on this deal but I wanted to run it by you folks.

Maybe I could offer her $200 and try to wholesale it to someone??

Hey guys, for the past couple years I was wholesaling deals for a quick cash while I was still in school. Finally I graduated in May yehhhhh!!

OMG! Just hung up with a property owner, they have 80 acres in Sussex County, NJ for sale. It's been approved for a town center, 1/3 commercial, 1/3 light industry and 1/3 residential. It is about 1/4 mile from a minor league ball park, and down the road from some other shopping areas (Home Depot, Lowes, Kohls, Pet Smart, Modells, etc.) Going to do some research on what the property is worth, and to see if I can get this one (as my first deal!) under my belt. Working closely with Michael Mangham on this one (thanks Mike). Scared but VERY excited. I really hope this one will work out for me. If anyone has a developer out there who might be interested if I can lock this up, PM me.
Thanks!
Amy

Does anyone know of good websites for finding people who need commercial funding from a direct private lender? In addition, anyone know of good websites for finding people who need Hard Money Loans or selling non performing or performing notes? Thanks please let me know when you have a chance.

As one of Dean's Coaches I am always interested in being able to direct new students or discouraged students to this site in order to be inspired by all of you. That is why I would like MANY of you to post your story on ANY deal you have done. If you feel comfortable mentioning what you have made, please do so.

When your fellow DG students see your success, it is the number one motivator for them. I have had many students call me back after I have referred this site to them. It is YOU who motivates them.

All of you are important to the DG Family. Keep having fun and making money. All of you are the BEST!

__________________

Roy Voeks
Official RE Coach

I summited an offer on a house in my target area of Ohio. The house is a really nice 3/1 near a hospital with hard wood floors and real 2x4 contruction. The house needs about 3k in repairs (handyman walked it) according to my team there. So, they were asking 9.7k for it and I offered 9k which they took in one hour. I know you are saying why didn't you do the 65% deal. Well this is a hud in a hot spot and I have a buyer for 30k right now after I finish it. This works for me and if it's not broken I am not going to fix it (the deals that is).

My very first offer and everything looked so promising! The home was listed for almost 3 years. It had no offers. The ARV was 482K, it was listed for 409K. My agent quoted me a bottom line price from the seller's agent for 330K. I guesstimated repairs at 30K- 50K I submitted my first offer for 330K but it was rejected. Another offer of 345K was also rejected. Doesn't the seller's agent have legal responsibilities to adhere to when quoting bottom line prices? What does this say about “my agent”? What do you think about this?

Greg

REO property, Perth Amboy, NJ, $136,000. Duplex 2-storey has adjacent Vacant lot. 3 beds, 1-1/2 baths, attic loft & basement in each unit. The 2 lots’ combined area is 3,884 sq. ft.; 2,048 is living area. The tax assessment in 2012 is $323,000. The comps show 220K to 240K. The estimated cosmetic repairs are $10K to $20K. I’m looking for CASH BUYER who directly buys it from Bank using own POF & VOD. I will get Finder’s Fee. See Photo. PM Rosepal

A friend of ours told me about a woman who's sister just died and she was looking to sell her sisters house to settle the estate. The woman was the executor and had full power to sell the property.

My husband and I went to look at it and....WHOOOOEEEE! This place was the worst property I had EVER been in. They had 12 cats and let them go potty anywhere they wanted. There was literally a mound of cat dung in every corner of the house...YUK! The woman was also a hoarder and the place was filled to the ceilings with antiques. The stench was nasty, the place was disgusting and I could not get through the rooms to evaluate the property... too much stuff!

I negotiated the purchase price but put a 14 day contingency in the contract like I always do. This one said...