My Deals

Hey DG Team -

Have another possibility of a deal. (other one's I posted are still in the works, trying to find investors for assignment or partnering on those).

This new FSBO just went on market Sunday 07/27/08.
3/2.5
1750+ sq ft.

Owner still paying on 1st $106,000 mortgage from 1999. (He has good equity in property)

Asking $122,000 and he'll pay Title Policy.
or - $120,000 and he pays nothing.

Comps in neighborhood are $135,000-ish

Tenant will move out by 8/31/08.

Owner wants to get rid of property cause he lives over 50 miles away and doesn't want headache.

im notcing alot of people in these forums that do alot of thread stealing (posting there own question in somone elses thread) im not trying to complain about it, but people should try and not do that.

The main reason is, if you start your own thread then you are likely to have more people see it and can respond to it.

The other reason is, its rude to steal peoples threads because things can get off topic and people might not get the responses they hoped for.

just something for people to consider.

thanks

I just wanted to share my story because #1 I AM SOOO PROUD OF MYSELF and #2 maybe help someone else step out on faith and recieve their blessing. So I have been battling my issues with fear and insecurities for many years. These last couple of months have really been about me repairing myself in preparation for the BIG VISION I have. So I have come to realize that fear is an illusion and not anything of substance. It is formed from our past experiences and hinders our present and future if not confronted. Well I am so happy to say that I did it.

I made a little under 15,000 today.

By doing nothing.

I found a listing on the foreclosure alert system and when I went to look at it, it had a condemned sign on it from the city. I am planning on calling the city to see why they condemned it. Any ideas? Any questions I should ask? My mother in law is a realtor and she asked if it looked like it was somewhere where they city might want to put something. Like a street, building etc. It is in a subdivision and in between two other homes.

Am working on a deal and wanted to get some advice.
I found a duplex asking price is $429k the owner needs cash because he
is sick and needs to move. He is willing to carry finance for $229k @ 6% but needs
$200k in cash. I have good credit and good job for over 14 years.
He told me that the property has been a family house for the past 17 yr. but was
converted back to a duplex. He also said that the property needs very little work and has
been remolded (kitchen new appliance). It's a 2/1 upstairs and studio downstairs.

I have a real estate investor client getting ready to retire and is trying to unload 15 small twn hme type houses 1,2.3. bedroom. WHile looking at this do I get an inspection on all units or is there some other route I can take instead of paying for that many inspections and may not take all units.

I have been submitting literally 100 offers per month and I have been having a lot of success in two different areas-out of town owners and banks. First of all the area I have been investing in is trending upward. Values are steadily rising. So my only logic is this-the out of state owners are letting properties go cheap because of the media reports in their area not the area where their property is for sale. The two properties I have bought recently from out of town owners were bought the first week they were listed at between 50% and 70% of PRESENT value!

I am writing this post as a reminder to some but a a reference for others.

Early on, when I joined this site and big part of it was the posting of your "DEALS" to show others what you were doing. This gave us all a very clear picture of houe to acquire properties and we could use it as a reference. I have noticed as of late that people are still posting their "deals" but WITHOUT posting the specifics of the transaction.

Hi guys here are my numbers for my latest acquisition. This was a bank owned property (REO).

1486 sq/ft
6148 ft Lot
Built 1953
SFR
4 bedrooms / 2 bath
2 Story
ASKED: 114,900.00
OFFERED: 100,000.00
COUNTERED: 104,000.00
ACCEPTED COUNTER: 104,000.00

_______________________________

TO BUY & HOLD....

Note: 1145.12 monthly w/PMI
Interest: 6.5%
Term: 30 year FIXED
TYPE: FHA
Taxes: 1136.00 annual
Insurance: 901.00 annual
PAYMENT: 1314.87
RENT: 1650.00 Monthly
CASHFLOW: 335.13
______________________________

FMV: 142,800.00