Ryan Blumkin's Real Estate Related Biography

I have been investing in real estate for about 4 years. The first property I bought was a duplex - I lived in one side and rented out the other. I still own this property; it is now entirely a rental. I then "flipped" a house in which I bought a house that needed some work, did the necessary work, and sold it - this deal was a break-even proposition and lots of work. The next deal I did was a lease option in which I found a recetly divorced individual who had the same job for over 15 years and was a previous homeowner. I signed a contract with her, recieved $5,000 as option consideration money, and purchased the house of her choosing (I paid $111,000 with the seller providing $3,000 in closing costs). She pays $1,112 per month in rent and has the option to purchase the house at an annual appreciation rate of 4% anytime between when I purchase it and 5 years thereafter. the most recent deal I did was purchase a house that was coniderable under market value for $60,000. I held it for 6 months and sold it for $74,200 and realized a profit of nearly $7,000 after all holding and closing costs and seller contributions. I am actively looking to do more deals like this last one. I would also gladly do another lease option with a qualified optionee.

I currently work full time in commercial real estate and have done so for over a year. I am a market consultant (agent). The first transaction I completed was representing the purchaser on a $2,500,000 shopping center. I have learned that this is truly a relationship business.