Offline1. I just did my first out of state assignment deal. It closed Tuesday and I made $2400 without ever setting eyes on the property (that's a first!). A guy I know went though it and took pictures for me. I found a motivated seller and negotiated a $67,000 asking price down to $27,300. My agent showed it to the list of investors I built through Craigslist ads and had a buyer after a few days. It just closed Tuesday and I got the check.
2. I have flipped (fixed and sold) a number of houses over the last 10 years in Upstate NY, but on Tuesday I closed on my first rehab project after moving to Central Florida. A bank REO I got for $30k. It should be a 1 month project with a net profit of about $15k after expenses. We are building a retail and cash buyer's list now... hoping to having it sold without ever having to list it.
It's not easy but it feels good to finally be gaining momentum!
Very nicely done! Moving into uncharted territory is always fun. It keeps things exciting and adventurous. Congrats on both deals. You're making it sound like a piece of cake. haha
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich
It's only the beginning, keep up the good work,,
Romaluv22
Signing out,
I have finally made up my mind to take control of my own Mind and Destiny. I am confident with the Faith in My Higher Power, I will Achieve what I Believe., In His Mighty Name, AMEN!
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Mike,
Maybe you'd like to fill out some info on your bio so that other investors on this site can know a little about you and where you're from so that they can network with you.
Wishing you continued success!
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/...
SO HAPPY FOR YOU! YOU DESERVE ALL OF IT AND MORE!!! MAY GOD BLESS YOU EVEN MORE!!!
I Exist. I Am That I Am. I Know That I Know.
Congrats! On to the next deal, right?!
2. I have flipped (fixed and sold) a number of houses over the last 10 years in Upstate NY, but on Tuesday I closed on my first rehab project after moving to Central Florida. A bank REO I got for $30k. It should be a 1 month project with a net profit of about $15k after expenses. We are building a retail and cash buyer's list now... hoping to having it sold without ever having to list it.
It's not easy but it feels good to finally be gaining momentum!
Congratulations, Mike! You've proven RE deals can be made ANYWHERE!
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe
Hi Mike I see those shoes and fingers smoking, wonderful!!!!!! keep it going, wishing well, Jim
jbischoff
CONGRATULATIONS !!!! You did it !! Keep going ,you have proven that it CAN be done everywhere !! Yuppie yuppie hooray for Real Estate !!
Thank you for sharing !!
Cheers to your succes!!!
Julie
You took the Action required and Succeeded and became a role model all at the same time! Way to go! We'll be watching for your posts about your next deals. Semper Fi. D-LO
Thanks Dean for contributing $5.00 for each post by d.g.members for the benefit of victims of the Hurricane and Nor'easter storm on the upper east coast including New York, New Jersey etc. etc. What Devastation!! Just one more example of your generous heart. I live in Palm Beach County, FL and lived thru a few hurricanes..but nothing like Sandy and tonite, Snow,rain and another Nor'easter on the way!! May the Lord keep them all safe from harm!
D-LO
way to go. I just sold a wholesale property to my first out of state buyer:)
Keep up the great work.
Success to All!
John and Julie W
John and Julie Wakefield
JCW Properties, LLC
How did you organize through the negotiations and looking at the home and the buyers looking at the home for the out of state assignment deal?
"A man who has never lost himself in a cause bigger than himself has missed one of life's mountaintop experiences." Richard Nixon
I need to Read this today, i come to a stop the last coup;e of day's.Needed a kick in the seat! Just to know people are doing it. I fill it in my blood, that one day i will be posting a Deal. I need to get rid of the Villain that still is in me.
Richard Armendariz
It really helps to have the right people on the ground where you are investing. Took me two property management companies and two contractors but it works. Works almost better for me as I don't have to love the property, just know the numbers work and it is in a decent area.
I was also surprised at how easy it was to find buyers on Craig's List. Just do a search in the area you are looking in and look for "We Buy Houses". I found 13 within minutes in a little town in South Carolina.
My heart is happy for you! Great Job!
"Faith is taking the first step even when you can't see the whole staircase."
~ Martin Luther King, Jr. (1929-1968)
www.beaconinvestorsgroup.com