Today I met with my attorney to clean up our contracts on a two house package deal that I have put together. They are two houses next to each other on two separate lots.
I have a contract for both houses to close simultaneously with an assignment clause.
I am forming two LLC's to put the units into at closing.
I used Dean's real estate evaluation tool to determine that I am purchasing each property at 72% below the estimated market value on the evaluation tool.
I am trying to purchase these with a cash partner who will hold a percentage of the corporations for a fee until I can cash out the properties with a fixed rate mortgage.
They will turn a positive cash flow as soon as the tenants move in!!!
I am looking for a partner to do this with in the DG family as well.
I have 5 other deals in the same area (Rockland & Orange Counties in NY) that I am contracting for similar discounts.
If you have an interest in reviewing these deals and making a fee for the use of the funds I would enjoy a conversation for future deals.
I will keep posting as this deal moves to closing over the next 30 days.
Then I will be applying for my refund from Dean to use for more GREAT EDUCATION!!!!
Thanks Deano!!!
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Two more offers underway
Hello everyone in DG land,
Today I made 12 offers and have appointments to see 2 that have been accepted in Nyack, NY.
The properties are in a great area and the offers are at approx 52% of the values that are on Dean's Total View Tool. (I have my first call into the experts to discuss exactly what this tool represents in the real world and to discuss the Insider's Cash programs)
These are different than the the first two in the package deal. I believe these might need some work. That is why we are viewing them Friday at noon.
The question is, should I renegotiate if there is to much work or should I try to wholesale the properties!!
If there is any interest in this type of deal and for anyone looking to invest in a location that is 30 minutes to NYC and 5 minutes to Westchester, NY(Tappan Zee Bridge) please contact me. Perhaps we can partner!!!
I might want to move one of these along for the right assignment fee.
I am working on these deals about three hours a day and it is amazing what you can accomplish if you stay on a schedule!!!!
The "Frogman"