My Deals

Dear DG Fam,
I haven't posted an update in awhile, but I do have deals to share. I now have 4 homes in Cleveland! (my goal is 10 by next May) The first, an REO purchased from a re agent, was rehabbed in a month, rented before the work was done. About $600 a month positive cash flow, ROI approaching 20%.
I had one deal fall through that was a short sale. I did not question my real estate agent (a different one) enough, and believed the bank had approved the offer. But literally on the day I was about to wire money, the bank said "No". That was a bummer. But man, there are endless deals out there.

I cant say I did my first Deal because all I did was send my buyer to my Partner..But I can say I made My first Money..I sent 2 buyers to my partner to buy their Property so my 1 deal ended up being my first 2
I will make $2,500

I jumped into this Real Estate arena about 3 months ago. I had absolutely no money to invest. My only choice was to run Free ads on Craig's List. I have learned some interesting things along the way. Many times my ads are flagged and removed when there are a number of similar ads in the same catagory.(Houses for Sale) My competition is not playing fair. Also Craig's List will block my ads if Im trying to run multiple ads in nearby cities, for what reason I dont know. I now have several email addresses just for the purpose of placing ads on CL. Ymail, Gmail, hotmail yahoo all have free email accounts and u can have as many as u want. I always use the same password. When I post in other email addresses I can still use the same phone number.

Well sort of...We (my father and I) put an offer in on 5 acres of land with a manufactured home on it. Hud was asking $124,500. Property is worth $180,000 and needs about 10K of work which we won't have to do. Our offer was $95,000 and they accepted it!! Best part is we already have a buyer set up who has agreed to a price of 136K. We are about to go down and sign off on the acceptance so we are still in the prelim stages of this but that's a gross profit of 41,000!! We are pretty stoked. We didn't have to come up with any money on this deal. Zero out of pocket, and this deal more than pays for our money spent on the academy and insiders edge. WOOOOOOOO!!!! Thanks to Dean and his staff and everyone on DG.com.

My bird dog found this nice 3/2 5 yr old home in a new subdivision, it's about an hour and a half from where I live. The owner is out of the area and the house sits empty. The owner is losing the house and is several payments behind. I wrote up the contract that I'm going to try to sell the house or do a short sale and I can make repairs and I can rent out the property till its sold or goes into foreclosure. This seller has just given up on this property and is happy to let me try to salvage this deal. Rent in the area goes for $900-$1100 Can u imagine collecting 1100 buks plus a deposit? What if it takes a year or more to do the short sale or the short sale is unsuccessful and it goes into foreclosure?

I have a deal I am working on and I need some help getting the offer right.
It is a house that has an ARV of $195k. It is unfinanceable and in disrepair (will likely cost $50k to restore) but it is in a highly desirable area.
The owner wants $145k but I offered $105k, and she said she would let it go for $125k.
At this point we have agreed to table the deal until she comes down, is that stupid or are we in the right area with our offer?
My thinking is that a savvy investor will not buy the deal with that little equity, and a person that has cash and wants it as a primary residence will be overwhelmed by the scope of the project.
Please let me know if you think I should wait, or call her back and offer $115k-$120k.

WHOLESALE DEAL!! NEED TO CLOSE ON DEAL!!

4000 BLOCK OF HEATH ST
CAPITOL HEIGHTS, MD
SUBDIVISION: GREATER CAPITOL
RAISED RAMBLER
3 BEDROOMS
2 LEVELS
LARGE CORNER LOT (4,000 SQ FT)
GENEROUS LIVING ROOM
NICE SIZED BEDROOMS
CENTRAL A/C

GREAT LOCATION
CLOSE TO BUS & 2 METRO STATIONS (CAPITOL HEIGHTS & SOUTHERN AVE)
CLOSE TO SHOPPING, SCHOOLS AND RECREATION
5 MINUTES TO WASHINGTON DC LINE
WOULD MAKE A GREAT REHAB INVESTMENT OR RENTAL TO HOLD!
Repairs: PROPERTY IN DECENT SHAPE BUT NEEDS NEW KITCHEN & BATHS, LANDSCAPING, PAINT, HW/CARPET.
ARV: $97,000.00 - $109,000.00
RENT: $1,300.00 - $1,450.00
REPAIRS: $30K
YOUR PRICE: ONLY $36,500 OBO!
http://s1194.photobucket.com/albums/aa375/malikasellshomes/?action=view&...

OMG. We made an offer to a guy who has 3 properties (he called us from a bandit sign)

Thank God for the success academy hotline!!!

2 of the 3 have renters in them and he's finishing the reno's on the 3rd. We were a little embarassed to give him the offer as the offers were really low. Little less than 50% of ARV. He said thanks and that he'd get back to us.

Couple weeks later which was Wednesday he called and said Lets do the deal! WHAT?? He took 50% of ARV? OK Freaking out... Called the hotline. Did I mention Thank God for the success academy hotline!!

So we got the properties under contract. Here are the deals. Let me know if this format for the information to investors makes sense:

I just started in the DG family and green. But I am trying really hard at getting things going. I have not done a deal yet. But I have found a great in with some bank asset managers in my area. Well I just received information on a commercial property in the down town area of Chicago. The property was just appraised for 3.9 mil. and is 70% occupied. Great Investment. The bank is looking for 2.3 mil. with some wiggle room on price. This property is not on the MLS. I would like to see if any one in the DG family would like to work with me on this property.

Thanks, John Goody

[email protected]

I need to know what I can do with this Property..How do I act on it..She told me that she dont even care if she makes money she wants it gone

Estate Sale Condo
Date: 2011-08-31, 8:51AM

ESTATE SALE CONDO. MOTHER PASSED AWAY AND LEFT US CONDO. MUST SELL. CONDO HAS LAKE VIEW FROM SCREENED BACK PORCH. COMMUNITY HAS BOAT RAMP/LAKE ACCESS, TENNIS COURTS, SWIMMING POOL WITH BEAUTIFUL LAKE VIEW AND PRIVATE BEACH FRONT AND COVERED GAZEBO. LOCATED IN VERY DESIRABLE WATERFRONT COMMUNITY. 2 BEDROOM / 2 FULL BATH WITH WALK-IN JACUZZI TUB IN MASTER BATH. BRAND NEW CARPET, FRESH PAINT. INCLUDES WASHER/DRYER AND ALL OTHER APPLICANCES IN GOOD CONDITION. 1065 SQUARE FEET. 1ST FLOOR UNIT WITH COVERED PARKING. LOW TAXES, HOA ONLY $216.00 PER MONTH. UNIT IS VACANT. WILL CONSIDER ALL OFFERS!!