Uncle Sam Selling Bulk Rentals

Fannie Mae will be offering up nearly 2500 distressed properties in eight locations to investors who are willing to buy them in bulk as rental units. Fannie Mae didn't specify how many years, but there will be a requirement that they be rented out for a set number of years.

The properties are located in Atlanta, Phoenix, Las Vegas, Los Angeles/Riverside, and three Florida regions. They include all types of housing from single family homes to co-op apartment buildings.

There will be strict guidelines for who will qualify as a buyer, and these properties represent only a tiny portion of the more than 180,000 properties held by Fannie Mae and Freddie Mac. Many of the properties are already occupied by tenants, and buyers will be required to honor their leases.

Wow! 10 Properties Under Contract

We had a landlord call and said that they were tired of being landlords. When I asked where her property was located, she promptly told me she has 10 rental properties. 9 Houses and one 4plex. 6 in Lee's Summit, Mo. and 3 Houses and the 4Plex is in Independence, MO.
She supplied the rent amounts and mortgages balances when asked and I did a drive by her properties.
Meet the landlords at one of their properties as well.
We have locked all ten properties up and now are going to wholesale them to an individual investor or investors.
We are offering them out to our buyers list and we will see what happens.
Very Exciting!
Laura Bullock
BMW Investment Properties LLC

Four properties under contract TODAY!

I got four offers accepted today. That is a record for me!

2 short sales
1 Estate sale.

I am not going to keep any of them. Just going to wholesale them. SO I have only gotten half the deal done on these. The other half is getting them sold to my buyers and closing!!

$6000 in earnest money due by Tuesday!! Better get my buyers lined up over the weekend!

Two of the properties(the short sales) were supplied by my mentee's. I am doing all the funding, contracts and supplying the buyers, title company, everything. We are splitting the net profit 50/50.
What an education for them!! What fun!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

6 Week Battle w/Hudson & Marshall;Gary & Jill Victorious

Six weeks ago we put in an offer on a REO that was about to go to auction with Hudson & Marshall. The bank countered back dropping about 6K; we countered their offer by increasing 1K; they dropped another 2K but then held firm. The property went to auction but did not bring the number the bank wanted, so Hudson & Marshall put it at "post auction" bidding. We tried bidding again, but to no avail. We then received a call from the auction co. & they negotiated a purchase price with us ... we agreed, sent in the contract with a $ 2500 earnest money deposit; thinking it was a done deal ...

Another deal completed!

A while ago I discussed a property that I had under contract in which the tenants had lived there for 30 years. I almost let this deal go because I had a hard time showing it with the tenants and their 30 years of stuff still in the home(in one room there were boxes stacked almost 8 feet high that took up the whole room). Then one day late January I received a call from the owner stating that the tenants wanted to finally move . Although they didn't technically get moved out until this past Saturday, I immediately got an extra set of keys from the owner and put a lockbox on the door. I slowly (due to the fact that the tenants still hadn't completely moved)showed it to many potential buyers.

Sold First Flip

Sold our first flip on a deal we did with my sister in Indiana. The closing was on the 22nd. I am happy with 9k that we made, we had about $1500 of our own money in on this deal so that is a big ROI. 6 times our investment is that 600%. My sister made out on this deal also she made about 42% ROI. This was a good deal for everyone. THe HUD people got rid of a house they did not want any more. We made money and the end buyer wanted the house before we bought it, but she could not do the repairs. She is very happy with the house now that it is fixed up.

HUD asking 51k we bought for 35k sold for 72k we ended up spliting 18k profit after repairs.

Bought in Oct sold in Feb.

Over all I think this is our best deal.

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