I can't believe we can finally add this post. Dan and I have been working very hard to get this far. Thank you, thank you thank you!!!!!
We resently closed and funded on our first 2 flips!
4 bedroom 2 bath; we purchased for 85k terms were private money at 6% for 12 months. interest only loan, and no money down required.FMV 130k
We sold the same house for 102500.00 This sure is not our best deal but we learned a lot. We held it too long. Fixed it up as a rentalinstead of a flip. At the end of the day we netted around 2500.00
3 bedroom 1 bath purchase price 55k FMV 140k purchased with private money at 9% interest only, no money down, 2 pts, guarneteed 6 months interest.
3 bedroom 1 bath purchase price 48k, FMV 130k financed in the same loan and deal #3,we purchased them at the same time.
We rehabbed and sold deal #3 for 120500.00 this paid off our entire loan for both deal #3 and Deal #4,we own deal #4 free and clear, and received a check for 3900.00 We will put house that is free and clear on the market and sell it with a potential net profit of 80k after all rehab rehab costs are deducted. This will occure in the next 45 days or so.
3 bedroom 2 bath NICE house purchase price 136k purchased with private money 9% interest only for 24 months,first lender would only do 120k, sencond lender of 30k, we gave him 1k up front,nothing else. We ever borrowed the 2 k for earnest money. it is now fully rehabbed and on the market
Lease option on Deal #6. They are giving us a Non refundable consideration money of 30k, on a 12 month contract. 350.00 positive monthly cash flow, sale price 220k. Potential profit of 45k at closing.
this is a Lease option on one of our rental houses. Non refundable consideration money of 5k for 2 years, Sale price 125k. We will make about 10k at closing. It needed 5 k in repairs to move in.Cash flow 50.00 a month.
We have another LO in the works as we speak!
I cannot say thank you enough Dean, for giving me the tools and the courage to do this. We are not finacially free yet but we are headed in that direction. Without the shared knowledge in your books, from information on your site, and from guidance from your success team Dan and I would not have been able to do this.
Again Thank You!!!!!!!!!!
"Don't tell me I can't, Tell me how I can."