My largest check to date on a single property.... I AM SOOOO PUMPED!!!!!!

I received my largest check to date on a single property today... $25,000.00!!!

I have done many wholesale deals over the past years making 5k to 10k and one time I got a wholesale fee of 12k on a deal. But I did this deal a little different and it resulted in a check for 25k!!!

I had a 5 unit building that I was able to negotiate down to 135k. That's a huge discount considering this property only needed about 40k in rehab and had the potential rental income of $5,500 per month. So instead of simply wholesaling the deal I found a partner who had the cash to purchase and rehab the deal. I allowed him to take title to the property since it was his cash and I simply put a $25,000 note and mortgage on the property to protect my interest in the property.

Why You? Why Real Estate? Why Now?

Hey fellow DGers!

Dean always starts off his books with the WHY,or your dreams.

If you haven't done it already,take a moment and go to www.deangraziosi.com/why

Then come back here and post your why to share with the rest of the group!

An offer Accepted!

This was done through an agent. As she was emailing me that my offer was accepted. I was emailing her that I wanted to withdrawal my offer (2nd offer)as I felt after walking it w/contractor with was too scary. So I'm reconsidering. I have a potential end buyer who says if the rehab #'s work, he can move it. So my issue is: I need the buyer to submit down $ and POF as requested to put in official offer. (LOI was accepted). I contacted that end buyer this morning, no response yet. I'm waiting for the rehab costs from contractor. I contact him as well this morning...no word yet. Here's how the #s work out:
Asking $33,000
ARV $51,000
Rehab guestimate $12-$18k
Sale price including my profit $27,125.

Gary & Jill Close on Another Property

We closed today on that REO that was with Hudson & Marshall. It was a long battle back & forth with many offers & counter offers, but we finally prevailed.
The bank painted the interior & installed new carpet
so there is only minor cosmetic repairs left, around
$ 2,000. It is in a neighborhood of 80K to 120K homes,
but we'll sell it in the mid 50's.

I put a contract on a FSBO and I have some concerns

This is a brick 3/1 with a full basement and double garage. 2095 SF.. Asking price was $105K. I could tell from the outside that it needed lots of work but didn't think it needed as much as it did. The owner gave POA to his son. They are Chinese and Owner is in China. He had been renting it to his "help". He owned a restaurant and it closed so it's been empty for 7 months. It is in a great location and a nice neighborhood. After asking questions, I found out that he owes $75K on it but was told payments and taxes were current. The basement has been divided into 5 rooms and there is 1 bath in the basement. All floors in the basement are still just cement. All floors on main floor are carpeted and it needs all new carpet.

Tax Lien Investing Helping Government & Investors

Between $7 billion and $10 billion in property taxes go into delinquency each year. For state, county and local governments, failure to collect this much revenue is having a negative impact on their budgets and ability to continue funding obligations and infrastructure. In 29 states and the District of Columbia, governments turn to investors to make up the short fall.

Syndicate content