Another deal in the works!!

Over the last few days I have really been hitting this hard. I have been able to put another property under contract and this is also a great deal.

I found this older investor who was selling 3/1 that had been rebuild about 4 or 5 years ago. He had actually started to do the rehab on his own, being a retired builder, and he was doing a nice job. Unfortunately he has discovered that he has to address some serious health issues and wants to sell. He saw one of my signs near his home and called me to see if I would be interested in buying his 3/1.

I just flipped the Ugliest house on the Planet

I got ahold of a list of absentee owners and sent out my first batch of 200 hand written yellow letters. I was really surprised to get 30-40 calls, many were useless, but one elderly lady had an old junker in a bad part of town, I offerd her 15K and we settled on 18K I started placing multiple ads on Craigs list for 25K The first investor that went over to see it called back and described it as follows, broken windows, sheetrock ceilings coming down, subfloor rotted thru in several places, garbage and filth and a horrible stench that wud choke an old wilderbeast. He said there were 6 dogs and several cats with crap inside and out, dead yards with junk strewn about, he even described how the trees were scraggly and barely hanging on.

DEALS! DEALS! DEALS! from coast to coast!

I feel blessed to live in the Midwest of the United States of America because there are so many real estate deals in each and every price point. You can find deals for under $20,000 all the way up to $1,000,000 homes. No matter what price range there are always motivated sellers and buyers waiting to pounce on a great deal!

As we travel the USA, I can't believe how many deals I see in every market. Recently I was in Florida and California and I could not believe how many great deals are within your finger tips each day.

Courage...Get addicted to the pain! :)

Courage is not the absence of fear, courage is the judgement that what you want is more important than your fear. Realizing the fear and acting in-spite of! Strength in the face of pain or grief.

FINALLY!! Deal No #2 in the works!!!

Hey Fellow DGers!
We finally got another deal going! After near burnout from doing a fix and flip a year ago with us doing most of the work(made $20K on that one) we kept searching and searching and found an estate which was selling the house after relative passed away. We offerred and counter-offerred for a week and settled on $68K and we clean out the house. Lots of furniture, appliances, and "stuff". We will carpet, paint, update kitchen and bath and spruce up outside with some new landscaping and new gutters / downspouts.
We ran comps and it should sell fast for $125-130K. Rehab at approx. $25K. A nice $32K profit when all said and done. Listing agent will sell for us as he is a deal making machine.

Turning Covered patios into Equity

Here is a tip I have been able to take advantage of on a few fix and flips that made me an extra $15-20K, especially if you have a good contractor. Anytime you have a covered patio with a concrete floor you may want to take a look at the expense of adding three walls and finishing it off to add more square footage. Typically the cost/ft^2 will be 1/3 of an addition because the foundation, roof and one wall are complete, and if you are in an area where homes sell fore more than $100/ft^2 an average 20X20ft^ patio could easily add $40K to the ARV and cost less than $15K to complete. This works especially well on smaller <1000ft^2 homes that you can get cheap due to their smaller size.

Hope this helps!

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