Steve and Veronica's Deal, house #4

Go get 'em! Congrats! Just curious, how did the renters give you $14K?

It's a lot easier & safer on those cheap houses, & in some cases your return on investment is greater.

On the last deal we did a noseason refi and pulled out 45k and the loan costs us 320 a month. We charge the renters 500 a month paying for the loan that is paying for the next deal. Isn't this REI fun.

Steve.

You are so right. I do want to get to some of the home runs but for now we are happy with the base hits.

I hope you all are doing well.

Take care

Steve.

yes, I figured it was the cash out refi. Mine is supposed to FINALLY go through June 3rd! Here's praying it goes smoothly!

Steve and Veronica,

nothing stopping you now! congratulations and wishing you many more!
yes-out of state is the way when we live in Cali!

Valerie

I hope your refi goes well.

Steve

We are trying to keep on rolling. We want to start doing a deal a month. I also want to start doing some deals here in California if we can get the numbers to work.

Steve.

guys. Slow and steady wins the race.

Yes Bill that is right. We want to move faster but sometimes that hurts more than helps.

Thanks for the congrats.

Steve.

Way to go Steve and Veronica! You guys are a great example, we are glad to hear from. And we look forward to hearing from you on your next deals.

Isn't it wild to think you can get a house for $14k and fix it up for another $10k and your ready to roll? Some folks in NJ where I grew up can't believe that I got this house down here in NC so cheap, they are saying its over $300k up there. Sounds like Cali huh? Are you heading to Il to do any work on it yourself this time? I am still going to be giving you a call one of these days bro. HEY, this you will love! I got a call from the pastor of my church this morning, this does not happen very often. They have come and served with our non profit a few times so I do know him well, so when he came up on my phone I answered it " what kind of trouble am I in now bro?" HA HA He thought it was funny. But what he called for was to ask me to do the communion lesson on Sun for our Memorial Day Service at church. ME?! I am not a public speaker, but he said it was a unanimous vote at the leaders meeting that I would do it. They know my passion for the troops and want me to tie into Jesus on the cross and his sacrafice. Talk about humbled bro! I spent about an hour writing notes and ideas and praying about it, alot more work to do before Sun. I know your a Godly man and a former Jarhead, so I thought you'd be interested in this. Got to hit the rack. SEMPER FI

It is great to hear from you both. We sure had a good time at the Edge with you both.

Thanks for the congrats.

Tom did you ever have the roof work done with the new product you were talking about.

We hope to here more about some of your deals here soon.

Steve.

Yes Jack it is crazy how the prices of homes very. The 14k house in Ill would still be around 60k -80k here in Cal.

You will do well in church this Sunday Jack you have a hundred thousand more Marines looking down from Heaven proud of what you are doing Jack.

Get some.

God Bless

Steve
Semper Fi.

Now we have to move on to the rehab. I have some contractors lined up to do some work on the house. We hope to get this one turned around quickly.

Steve

I called my Dad who lives about 5 miles from this house deal in Illinois to change out the door locks for us. My Dad is 76 years old but he still like to do some small repair maintenance on houses and lawn work. We will have my Dad check in with the contractors doing the rehab work for us. We are very excited to have another deal done.

Steve.

You are well on your way!

Way to go, Steve and Veronica!

This is awesome. This deal this site and my DG Famliy is all AWESOME!
Steve.

Thanks for the responce. It is nice. We are one more step closer to being a Real Estate Millionaires.

Steve.

I just got of the phone with my contractor. He told me that it will cost 20k to fix this place up labor and materials. That includes new siding new windows, kitchen cabinets, all new dry wall through out the house, front and back door, flooring, and bathroom updating plus paint through out. The house should appraise for 60k after repairs. So I will have around 35k into this house. So if I did my math right that will be 58% ROI. For now I know these are just numbers and we have to wait till it is all done. But we are getting er done.

Steve

Hello Steve and Veronica,

Be careful with the contractor who change his numbers. Make sure be fore they start work you have a signed contract with a detailed list of the work to be done materials and time line. I here so often that people get charged even more after the work is done. Also if its not done in time you can put a clause that he pays you so much per day that they are late on the time line.

Thank you Makeba you can never be to careful about work being done.

Steve

I ordered the dumpster today it will be delivered on Monday the 20th. Then the demo starts. It is an ugly house now but when it is done it will be a money machine.

Steve.

First delay. I need to find a new contractor. The one I had set up to do the work had too much work to do. So I have 3 more coming out to give us quotes. In REI you have to bounce back and that is what we do.

Steve.

We Marines don't give up, its just an obstacle, and we know there is always a way around, over, under, or THROUGH it! Can't wait to watch the progress on this one!

Steve and Veronica,

you are so right- we just bounce back and keep moving forward!

Looking forward to hearing about the rehab!

Valerie

We could sit back and say this does not work but that is not the case with us. When one door shuts another is opened. We might get the job done for less money now. It never hurts to get more quotes and get to know more contractors. I hope to make them all busy.

Thank you both for stopping by.

Steve.

Steve and Veronica

Hi how are you guys? It's been awhile I see you got another one good for you. I just finished my latest rehab,and will put the slide show together and post the link.

Steve and Veronica
Are all your deals out of town so far? And if so, it sounds like doing deals near where you trust someone that can check on things is a good idea but it can still get messy.

I will watch here to see how this deal goes. I have been doing flips in Merced,I want to start doing buy and holds now here and where I live in Mariposa County, but I am also looking at doing out of state.

Still have not received my Totally Fulfilled book yet but should be here soon.

Keep up the good work and positive posts - you two are really moving fast.

judi