10 Weeks to get this REO under contract!

Sounds like you've done your due dilligence, did your research, took action, and now it's all about to pay off BIG TIME. I like how you clearly laid it all out for us to see. It's very encouraging for me and I know other DG members will benefit from it as well....

Do you mind me asking how you came across your private lender? I'm currently looking for a private lender in my neck of the woods..

Can't wait to hear about the next one

Jordan

This loan came from a family member, He is very happy to make 12% on his money!
He has seen me close 8 deals since May 1st and now wants to get involved.

I am networking at REI meetings and with fellow investors to find some one else also!

Good Luck!
Michael Mangham
MD Home Acquisitions

The next property acquisitions that we have completed and are under contract and our control are from owners that are in the pre foreclosure stage and have equity or were off our absentee owners list. On these we are going to assign the contracts. We have 30 days to produce a buyer or the contracts are void. These are not "deals" until we leave the closing table with a check! Much easier than dealing with an REO purchase. As you can see, we have several strategies working at the same time.

Michael Mangham
MD Home Acquisitions LLC

There is a company called Help U Sell Realty. This is a real estate company that sells for you and the commission is 2%. Do not know if they are nationwide or not, but you can always google them and take a look at their website.

Would not surprise me if they raised the commission level but it's worth a shot.

Do they list on the MLS? Is that buyers and sellers commission? 2% buyers, 2% Sellers? OR?

Thanks,
Michael Mangham
MD Home Acquisitions LLC

Waiting for an answer on this one!

This deal worked great and I never saw a banker or hard money lender!
We started the remodel today.
Its 5 bedrooms, 4.5 baths 4000 Sq Ft including the finished basement. We are going to make a media/game room and a work out room with a steam shower downstairs. Its going to be awesome!

On to the next one!
Michael Mangham
MD home Acquisitions LLC

We normally sell our properties ourselves, but have had luck listing some
with a Flat Fee Agent... for a fee of $ 250 to 500 (depending on agent & what
they're going to do) you get the property listed in your local MLS plus on Realtor.com. We've sold a couple this way & all you pay is the selling agent's
commission of 3%.

Thanks for the tip!

I have 14 wholesale properties under contract and available for purchase. Value over $1,800,000 !! These are properties I have under contract from homeowners!
Check them out at my website: www.mdhomeacquisitionsbargainhouses.com These are all cash or hard money deals.

Happy investing to all!
Michael Mangham
MD Home Acquisitions LLC

they do list with mls last I knew they charged an extra fee for that, next price level or something like that. Great job on all your investing.

Thanks for the info. We usually use our realtor, we calculate those costs when we buy. I think it pays off in the long run.

Michael MAngham
MD Home Acquisitions LLC

It is so much easier dealing with a homeowner with equity directly than an REO or a short sale!! I met with a lady off our absentee owners list and it turned out she had 7 properties see wanted to get rid if. Talk about your tired landlord! She doubled our inventory! Networking and marketing is is how we have grown our business!

On offers on REOs we go directly to the listing agent for that property, not an assistant. We don't make offers unless we are in direct contact with the listing agent the bank is working with. We tell him we will work only with him or the agent he recommends(his agency gets both ends) We do not bring our own agent in on a REO offer.

Demo done 7/27. This is fun. Hope to net $70,000 on this one! Have several others we are wholesaling. We plan on doing 3 to 4 times the business next year!

Michael Mangham
MD Home Acquisitions LLC