My Deals

this is a probate house that is right next door to the first house that I bought in OH. The new owner lives in Texas, so he just wanted to sell it; it just so happened that he knew a friend of a neighbor who knew my agent- with whom he decided to list the house with. When she told him that I had recently bought the house next door, he asked her to ask me if I would be interested?

Would I be interested??!!! The house needs minimum repairs; it is a gem! I love my agent!!
So, after a long awaited time for the probate court to approve the sale, we were finally able to close today.

Well It has been a whille sense I have been posting, But Im here to say I just did my first deal of the New Year..It wasnt much but everything helps...All I did was send one of buyers to someone with a Property that my buyer wanted...But the good thing is My buyer will be buying 3-5 properties a mouth..I will be getting $1,500 on each deal...I am also still working on a very big deal that has been in motion before Xmas..SO Im hoping this one gets done soon..But it is a $225 million deal so I know it will take time..

Hello everyone. My name is Joe and I live in Ohio. I just recently completed my 1st wholesale deal and just wanted to share with everyone, especially the new investors who haven't done their 1st deal yet.

I got a hit off one of my signs. A seller looking to sell his NY home. Lives in CT, near me. Listed with an agent, no luck selling. newly rehabbed. I dont' think there's much to do. The pics are confusing, some are awful looking, bad paint colors. some ok.

4bed/ 2.5 bath Old style farmhouse, blt 1930.
1815 Sqft. 1.05 ac lot
Fenced in yard, enclosed porch

New everything, heat, electric, etc.

Anyone near this area? Maybe work together on this?? Let me know.

Rachael

I really don't care about this type of information anyway!!. I am just going to make 4 to 6 offers today. Got two accepted over the weekend.

1. I got an REO under contract this weekend. Great numbers with a 6 month turn around.

It is a 950 Sq. Ft. Brick 2 bed, 1 bath house in the middle of a $750,000 neighborhood. The diamond in the rough for sure.
We are going to pop the top and expand backwards into the large back yard. Going to bring it up to 2400 Sq. Ft 4 bed 2 bath. Top end finish through out.

Bought it for $255,000
Re hab/remodel $175,000
ARV is $625,000 easy!
I am doing a 50/50 equity split with my #1 PM guy (no money costs!) He funds the deal, I run the project.

We should net $125,000.

Well, it has been awhile, but I just closed on my first deal this past Friday. I picked up my $15,000 cashier's check on Saturday morning. I was so excited and just kept looking at the check - saying this stuff really works, this stuff really works and I can do this.

I want to personally thank Jen Gray AKA: Bama Girl for all of her inspiration and support! And who kindly told me to stop organizing and over analying every deal and just jump in with both feet.

The deal:

Deal #1 is now in the books. It was a long time in coming and a lot of lessons were learned. The #1 lesson is that it's not always easy to make a deal.

This deal showed me the importance of networking, having a strong buyers list, not getting down or frustrated and being flexible. I'll explain:

As some of you may know, I took Michael Mangham's challenge to get him 6 houses in the Denver area. Problem #1: I am in Florida (geographically, pretty much across the country)
Problem #2: I know nothing about Denver other than it's in Colorado and people go there to ski.
Solution #1: I reached out to my networks and found an investor with sellers in CO and who would partner with me as co-wholesalers. (Sent out 6 inquiries and got 1 response.)

over 4300sq ft for $165k

Unbelieveable! IF you dont think deals are out there,check this out.

This house sold new in 2006 for over $430,000, went to auction and didnt sell=REO

Bank wanted $280k,negotiated price to $165k=

purchase price was around $38sq ft.

Repairs $7000 ARV= $285k+

4bd, 3.5 bath, 4car garage,hardwoods,office,sitting room,crown molding,granite,the works!

No damage, just needs some paint and carpet cleaned, had kids and they scribbled on some doors and walls

NOTE: This deal was supplied by REAgent,important asset to your power team. Let the deals come to you.

So I ran some marketing and found a guy who inherited his father's house. It's in the beautiful neighborhood of Cedar Grove, NJ. Comps say that house should sell fast for $370K. I went out and saw the place. I estimate about $30K in repair work. I offered him $180K and we ended up making the deal at $190K. Now instead of assigning this deal for $35K which is what I planned on doing until today I'm thinking of doing something different. This is all being finalized by both our attorney's right now.

I purchased a great property in Florida for 20k. I closed on it at the beginning of January. I got it fixed up and on the market on January 27. I spent 5k on the assignment fee and put 6,500 into for rehab. I got a full price offer of 68,500 on January 28th and it went under contract today. I should net between 25k to 30k. Ohhh I love real estate. Just do it!