Today I went to look at a property that I found on one of my lead sites that I subscribe to. the owner lives out of state and is very motivated to sell this property. Tenants just moved out and he wants to unload the burden.
After looking at the property I am going to offer $30,000 and if he takes it I will assign it to a buyer for 40,000. These are very small 2 bedroom bungalows.
Anyway, when I went to look at the property I noticed that the whole block(6 properties) were vacant. No kidding the WHOLE BLOCK! ( I now call this street bird dog heaven lol) I am going to research the owners of the vacant properties, contact them and make an offer. If any accept my offer I will package all the properties up into a "whole block" offer. Investors like whole block packages to buy and hold. It makes it easier to monitor your rentals and collect the rent if all of the properties are together. So when I found this block I hit the jackpot!
Here is an example of POWER wholesaling...
However many sellers accept my offer of lets say $30,000 per property (that's just an example. the property could need allot of work I have not seen them yet)
6 properties at $30,000 each is $180,000.
plus my fee of $7,000 per property equals a 6 property package for $222,000.
Each property can rent for $1,000 per month fixed up.That's a rental income of $6,000 per month.
I will make $42,000 if all 6 sellers accept my offer (this is rare) and I find a buyer.
The Investors will cash flow approximately $3,500 a month after paying the mortgages for all 6 properties at $222,000.
I will probably never find and entire block vacant again if I tried
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,