Home » Member Journals

Check out this Old Mansion I got on Contract for 10K

Posted on: Sun, 04/17/2016 - 20:22
Check out this Old Mansion I got on Contract for 10K

Check out this old Mansion I got on contract for $10,000

The problem is, it's in friking Arkansas.

Now I'll just start marketing it for $17,500 more or less. Zillow says the after repair value is $70,000

If I can't sell it, it's no problem, there is no risk, I can walk away.

But what if I cud sell it?

Wudnt that be a kick in the ass to make thousands from a junk house 2,000 miles away?

Technology baby, I luv it.

I put ads on Craig's List in other states that I buy Houses. I negotiate with seller and make my offer thru email, I email him the purchase contract by email. I run ads to sell it by email. I send my buyer the contract by email and start escrow with an email and phone call.

The funds are deposited into my back account by wire transfer.

What kind of crazy s--t is this?

I'm reading a new book called "Virtual Real Estate Wholesaling"

I cud use some help placing ads and raking in the dough, anybody want to make some money?

I did a few deals in other states a few years ago, it was profitable but I started concentrating in my area, time to kick start this into gear.

Rando

__________________

Rando


Posted on: Mon, 04/18/2016 - 17:29 #1
where in AR

Hey Rando,

I know an investor in AR; in what city is the house? send me a PM

__________________

Valerie

“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...


Posted on: Tue, 04/19/2016 - 04:16 #2
NICE RANDO

yEA MAN I am int in maybe doing that with you Smiling I am wholesaling again in KC and I will read that book sounds int. you going to the edge? i am

__________________

Tony

Go faster do more! GFDM!


Posted on: Wed, 04/20/2016 - 02:19 #3
Great Rando

Thanks for putting down the deal in a step by step manner.

Just curious , how did you get the repair cost down, being 2k mikes away from the subject property.

Thanks for name of the book your reading.

I am reading again the "Real Estate Profits On Steroid" . It is an amazing short , easy to follow book.

--- Bimal

__________________

Wish Everybody a great success in their Real Estate Business


Posted on: Wed, 04/20/2016 - 03:00 #4
as an investor can I charge a fee to a renter who I find an apar

sometimes on my realestate hotline I get people who call for apartments for some strange reasons. So I said im going to see if I can help. What fees can I charge the renter if I find them an apartment without using a realtor


Posted on: Wed, 04/20/2016 - 09:09 #5
I dont have to show you no stinking repair costs

I heard that in New York and back east people use Realtors to find them apartments to rent, here in California that seems crazy, but here we have an abundance of apartment units. So you might need a Realtor License to do that, you better check.

I knew of an investor that wud lease empty buildings. Then he wud spend a few hundred buks cleaning them up and painting the outside entrance, he wud sublease these buildings for $100 more than he got them for. People wud ask why he's going to all that trouble to make a 100 buks a month, he wud laugh and say, I have 34 of them

I don't do much repair estimating, if the place is in falling down condition, I say 50-60K If it needs a fell rehab I say 40-50
If it just needs painting and carpets I say 10-15K, and that's if they ask, usually my buyers go in and look and determine that for themselves.

__________________

Rando