Hello DG Family,
It has been nearly three years since I posted anything in this site. I am signed up for indider elite for about two months now and I will tell you that the information in there is priceless. I flipped a couple of houses a year for the last two years and now it is time to go faster. The thing people need to realize is with Dean and his fellow speakers, you do have to take action to make things happen. I got hooked up with two bankers from an investor that bought a house next door to a house I own near a college. I started to network with this guy and he set me up with these bankers. One of the banker is sending me over foreclosed properties and the other one is a smaller bank that will refinance the property if I want to keep it. By letting a lot of family and friends know what I am doing I am setting myself up with private money to flip houses. My goal this year is to flip 5 houses this year. Even though we are almost half way into 2013 I feel confident I can do it. I will be closing on a 5/3 house on May 31. That one I am buying for 77k with about 43k in repairs. The arv is 210k and a potential profit of 70k. The nice thing about this deal is I had an electrician come by a give me a quote on doing the work and he lives with his brother in the next town over. He wants me to give him first crack at buying it when it is done. How nice is that? I just got my second house under contract this morning. This one is 3 bedroom 1 bath house with one car garage and a full basement. This is and estate sale and the 6 siblings do not want to deal with it. If I put a bedroom in basement along with family room and full bath, This would turn into 4 bed and 2 baths. ARV for this one is around 140k and needs 25k in repairs. The lady wanted 58k and I countered with 52k cash and she accepted it. The profit potential on this one is around 63k and we should be closing this one before the end of June. So that would be 2 out of the 5 that I wanted to do for the year. I will keep everyone out there informed on my progress. But I just want everyone to understand one thing, you have to believe in yourself and take ACTION and good things will come from it. Have a great day everyone and even a better year.
Tom
Take Real Esate to a new level.
May 18th, 2013 | posted by tlsent1985
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