Just locked up another one

Just locked up another one

I just locked up another cash flowing property! This one will be nice because their is virtually no rehab to be done. I have budgeted $2000 for some new appliances, gutters on one side of house, and a garage door opener. I sent my property manager over to the property today to give a firm rental price on the house. He came up with the same number as me..$900/month. The property is located in a great area, has a brand new garage built, has a basement, 3 bedrooms and 1 bath. The plan is to have a tenant lined up to move in around closing. Notice this property has $315 monthly cashflow at 100% financing. Also, tenant pays all utilities and minor maint. No vacancy is my normal business protocol as long as there isn't a ton of rehab to do. Here is the breakdown of the numbers:

Purchase price $54,600
rehab costs $2000
Total cost $56,600
Insurance $30/month
Taxes $150/month
Mortgage $345/month
management $60/month
Total expenses $585/month

Monthly cashflow $315/month!

__________________

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!


GOOD JOB, CBR!!!!

GOOD JOB, CBR!!!!

__________________

"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


YOU GO RINA!

I am so proud of you...do your thing lady! That was one heck of a deal also.

again,

CONGRATS!

Jawdropping!Jawdropping!Jawdropping!Jawdropping!Jawdropping!

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


found it on the MLS

I found this one on the MLS. I locked it up at only a 9% off listed price but it was only on the MLS for like 10 days when I put in my first offer. I noticed that is was listed at about $20K less than comparables so I went to look at it right away. So I am guessing there will be about $25K in equity at closing. One thing I like to do when I am really interested in a property is to look up what the current owner paid for the property so I kind of have an idea where I stand. On this one it looks like the property was inheirited because the purchase price was zero. That gave me confidence that a decent offer would get looked at.

__________________

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!


It's nice

It's nice to catch the good ones early.

__________________

"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


addition, multiplication, exponential

3 phases of business. First you start out just adding a property here and there(addition), then things get easier and you find yourself adding 3-4 plus deals a month (multiplication), then you turn it on bigtime and you start building sub-divisions, condo's and apartment buildings, and large commercial projects(exponential). I am trying to go into multiplication mode right now, every now and then I have sudden bursts of speed but consistency wins the game.

__________________

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!


I don't know if I'd want to

I don't know if I'd want to go exponential. Would you have time for anything else at that point?
I agree, though, that it does multiply over time, both your money and your time (because you learn how to do things more & more efficiently). Then you seek out new challenges.

__________________

"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


FYI

Hello
I just want to let everyone know that Southern California is in a DOWN spiral right now so for all of you out of stae you may consider looking at that.

p.s. good job and keep going cbr

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


Exponential Growth

You actually have more time available during exponetial growth because now you have created a system that does the investing for you. It is really an amazing process.

__________________

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!


Cool.

Cool.

__________________

"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


cbr

Great job...how do you do it!?!? It blows me away...I can't find my first deal yet!

So on this one it was 20k under market, is that a deal in your area? Why would we want a place that is only 20k under the comps? Just to rent?

How does a 54k house rent for 900, is that typical everywhere?

Thanks,
D - DE

__________________

Don't Wish the Past, Create the Future! - DH


D, are you trying to find

D, are you trying to find locally, or how big of an area are you looking at?
For our local area, my realtor has it set up that whenever a listing (or even a change in price) is posted to the MLS, it is automated to come directly across my e-mail. Most of the time I see them before she does (because she's out doing her job!), and I call her. She's very good about getting me more information, then, and setting up viewings. Also, I don't know if we're supposed to promote specific companies, but my VERY favorite online realty site, for nationwide, worldwide, is ReMax.com. You just go to the main site, click on the map for where you want to look, type in the city, county, whatever, and there's your list. Sometimes it might be a little outdated, but I like it. I do wish you could choose "the whole country", put in min $0-max $100,000, but there would probably be millions of listings. (not that I would mind that! I don't mind doing a little homework.) If anyone knows of a site like that, let me know!
Of course, there are a ton of other ways to find places.
Lots of good tips throughout the forums.
You're on the right track!!

Good luck,

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


Check out Forum for possible new deals

Hi Everyone

As you can see I put up different forums for the sates under MY DEALS and it allows you to post deals for different states. So if you are looking for a first still you might consider the forum as a resource as well.

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


Rina - Just locked up 3 more this morning

I just locked up three more this morning with Assignments to come.

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


That's great, Anita! My only

That's great, Anita! My only hesitation on a first-deal would be if I couldn't personally go see it and if I hadn't put my time into research yet. If you have the funds to work with, you can take the risk of someone else's word, but otherwise, I wouldn't. Of course, that might just be me "playing it safe", it might pay off for someone else willing to take a risk. I'm still learning to be "brave", you know!

Smiling

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


Relying on someone elses word

Rina the forum pages could be used to do off site investments but I thought it would be a good idea to post local deals so if I am in Colorado I can find deals IN COLORADO. I see so many on here wondering about WHERE and HOW to find a deal, so this is just making it a little easier for all of us.

So it can be a great resource any which way you look at it.

Thanks for the congrats as well.

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


That's true!

That's true! Smiling

__________________

"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


Re: Investment Group

Rina

I believe we have a very good start on this REI Group dont you...lol

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


Love those numbers!

Hi CBR,

Thanks for posting the facts of your numbers here! It helps me know I am on the right track. As for "exponetial" whoo hoo, I can't wait to be in that position. Best of luck to you on yours and thanks again for the inspiration to keep going!

Angie

__________________

Challenges are only challenges if you view them that way. Try looking at them as OPPORTUNITIES instead and success will follow!!! "ME" Eye-wink


Are you locking them up in a contract

Anita, are you locking up all these deals in a contract? If so, start sending all the information over including addresses. If they are locked up you don't have any worries.

__________________

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!


i would't mind seeing them

i would't mind seeing them either.SULLY

__________________

YOUR HERO, SULLY


No problem.

If you look under MY DEALS in the forum you will see the deals I have posted and the address as well. Thanks guys

__________________

Anita
******************************************
TWITTER - anitarny / FACEBOOK - anitarny

"FAILURE IS NOT AN OPTION"


CBR dealmaker

nice work man, thats awesome that you wrapped up a deal like THAT,good to hear, by the way thanks for anwsering my e-mails yesterday, i THINK i understand now? lol MY HERO,SULLY.

__________________

YOUR HERO, SULLY


Hazco Great questions

Great questions...it all comes back to the trends. It is not typical that a house that is worth $85,000 will rent for $900. It is a great place to invest right now because of the fact that you can locate properties undervalued that rent for some nice cashflow. Also, when you can buy a property that is worth$80,000 to $85,000 that you buy for $55,000 that is over 30% under value which is the numbers I like. Remember, it is all about percentages. This deal is nice because there are so many options...I could assign it for a quick profit, I can rent it for nice cashflow, or I could flip it. I am going to rent it out. I like getting paid every month for work that I did one time. Here is another cool thing about the trends...if this area continues to grow this house could be worth double what I paid for it in a year! The options are unlimited. Always think about what profit you will make today, but realize where the trends are for future profits.

__________________

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!


cbr

Are these low $ amount houses in bad areas? In my area if I were to buy a 65k house it is going to be in the getto. I don't buy and rent in bad areas.

Does anyone like to rent in bad areas, does it matter to any of you where the rental is?

Thanks,
D in DE

__________________

Don't Wish the Past, Create the Future! - DH


In the midwest or places

In the midwest or places like OK or TX prices are MUCH different ie lower.


very good area

I don't buy homes in bad areas. My property manager won't manage in bad areas. Not only that but homes in bad areas wouldn't pull $900 per month for rent. I only buy properties in good areas or great areas. Location, Location, Location!

__________________

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!


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