Picked up the keys yesterday for 2nd investor house.
Purchase Price $45,000
3+ bdrm/2bath
1845 sq ft ($24 per sq ft)
$4300 New boiler
$4500 Leveling and concrete supports of fireplace side of house
$7200 Minor repairs/Carpet/Paint (high estimate)
_________________________
$15,000 Total Repairs (high estimate)
ARV=$80K-$90K
$20K-$30K instant equity
PLUS
$800 mo rent (conservatively)
-$150 mo taxes
-$ 50 mo insurance
-$300 mo (if there had been a mortgage)
----------
$300 mo cash flow
$600 mo without the mortgage
This house was listed on the MLS. There were a number of offers at the same time. My investor won with cash (even with a lowball offer).
My reward: A check for an agreed upon amount, and invaluable experience. (plus $ for rehabbing and "other assistance")
The next one is mine again. Any hard money lenders interested?
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Trying to put pictures in, but it keeps saying file is too big... help?
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Congrats! I want to close a deal right now so bad. Im hoping to get my deal done soon!!
Im gonna make him an offer he cant refuse
Bernie, I'm watching in anticipation as you push forward to your first deal (or multiple DEALS!) !!!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Those are great numbers, especially based on the square footage.
I, too, am looking for some these to turn around. You are a great encouragement, keep them coming!!
Jan
Jan
"...and the Israelites dwelled in the land of Goshen...they acquired land... and they prospered..." (Jan's paraphrase)
Congratulation Lorina! I'm so happy for you and another deal in place. I'm disappointed though that the bank has denied financing for another property for me. The plan was for me to move into this new home and rent the current home i have now. The bank has used all three properties and one re-financed aganist my income which put me over the limits of debt versus income ratio. Since i purchased Dean's book in March this year, this will be my fourth properties, but with wallstreet and the economic crisis it is now, i was told that it would be difficult to get it approve.
Well, the mean time, i'm calling on all my resources to get this loan approve. I hate when people says that i can't do this and you can't do that. Oh well, we'll see! I will not let the banks or lenders deny me of achieving my goals and dreams. I will somehow get the house finance. I don't know how and when to get it finance, but i will. I truly believe that if there's a will, there's a way. My goals this year when i took up real estate was purchase four properties. So far, this will be my fourth and not including five other properties that i purchase on tax sales since i have dedemptions period on those deals. Ok my friend, keep up the great work and it's soo good to see all my friends taking actions closing deals.
Lloyd
Lloyd, I feel your determination. You are right! Where there's a will, there's a way! I will be congratulating you on your 4TH!
Keep us posted, OK? And don't you dare give up.
your friend,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Are you wanting to flip or buy and hold? (I didn't go back and check your journal yet). I wish you well on whatever your goals are.
Thanks for the encouragement, too.
It's good to have such good sisters on the site.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
CONGRATULATIONS!! You are AWESOME!! Matt better watch his back huh?
I do have a couple questions, I'll email you....talk soon!
Your Sis,
Dawn
Life's a Dance you learn as you go...GET HAPPY FEET!
"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed no hope at all." ~Dale Carnegie
is a big part of why I am where I am. He's been an inspiration since I first saw his video in March. (His and Suzanna's I could especially relate to.)
Talk to you soon, Dawn.
Love ya,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Are your pics jpgs or bmps? Because bmps take more memory to download. If you can convert them to bmp that would be better. ;D
Love you sis,
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I think I need your help with the pics. (sad, huh? LOL)
Fill me in on what you're up to, too, OK?
your DG sis,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Great numbers! That is why you belong in the inner cirle. Great job!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Nice work Cheez Head!, lol, The numbers speak for them selves, sweet deal Re, SULLY
YOUR HERO, SULLY
I'll make a Cheez Head out of you yet! lol
Thanks for the congrats. They actually go to my investor (well, both of us. lol). He made an even lower offer than the deal I found ALREADY was, and stuck to his guns. I learned quite a bit from this one. I also had the fun of walking through the place with an excellent home inspector (I wrote about it in my journal), and learned a lot from THAT, too.
Plus, I got the check in the mail yesterday and he added an extra $500 bonus again. He's so cool! (Did I mention his wife is, too? )
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Thank you. Like I said....INSPIRATION.....
Please keep us posted on the REI stuff going on in your life. That includes the BIG stuff!
You keep running for your dreams, my friend, and we'll chase you. We'll all be like a huge REI wave that nothing can stop, pulling each other along in a tsunami of success!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Rina, I feel like I am in slow motion compared to you!!!! Although, initially I am creating a business that my wife can do painting, decorating, advertising, promoting, showing, collecting rent (yeah) and other activities so she can stay partially busy.
Found an FSBO through a drive-by a week ago, but walked away from it Saturday after my appraiser gave me the lowdown on what he found (black mold) in the walls around the bathroom and in the joists between the kitchen the second floor bathroom! I didn't want to go there. They would need to give me the house before I take that on! Basically, they put painted plywood around the shower/tub and calked about it..... but as you know that did not do the trick.
By the way, overall, our REI goals are working like a charm.
Regards,
DeJor Properties, LLC
Another great job Rina!
You guys are really kicking butt and it makes everyone at the office so proud.
I've been wrapped up in some big projects and also doing some moving and shaking of my own, so I've been out of the loop for some stretches here on the site, but I'm working back in!
It is great to see you!
I hope we keep making you guys proud (Dean, too!).
AND we'd love to hear about your movin' and shakin'! Even if it's stuff that seems out of our realm right now, it will make us reeeeeeeeaach for higher goals! (That's why I love hearing from Dean)
Thanks, DGadmin.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
So this is a different one from the other 3/1 house you posted? I've been MIA a while and saw you had two now is that right? If so great job, if not nevermind... LOL! Seriously, great job girl. I'm working on my second one in MI too.
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I've missed you. Yes, this is the second one. Thanks for the congrats. We're working very hard on rehabbing both of them right now.
I read about your MI ones. GOOD GOING, GIRL! I'm very happy for you and proud of your determination. You're the queen of lemonade. (you know the saying, when life gives you lemons....) I'll drink to that! haha
your sis,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I've missed you too, but I'm glad that our reason is that we're busy doin deals! I'm very excited for you, as well as myself! Yes, I LOVE lemonade and couldn't be happier that this turned out so well. Like I said, it just goes to show you that even if you do make a bad decision on a deal, if you keep looking for an answer one will turn up and things will work out just fine!
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."