Deal is done!! This one was in San Diego. Was a short sale. Family friend. They were so emotionally drained from the loss of two rental properties that they just wanted this gone. I told them I could sell it for them. I was still learning how to work the SD market and on this one worked with an agent I met at one of the local investor clubs (SDCIA).

Purchase price - $250k
Rehab $30k
ARV $350-380k

In this deal she split 50/50 her commission with me. I had the property, she had the cash investor. The house is near a major university here, SDSU. Perfect rental! Her buyer is doing the rehab within 3 weeks (they do on a regular basis) and then selling to buy/hold investor. I will also get 25% of the commission on the second deal. If I find the buyer then commission will increase.

Hello DGfamily,

I have now made deal #2 with in 7 weeks No Money Down.

This on was a distressed seller. He tried to rehab for profit and was burried. He bought the house 15 months age and was too busy to finish it. Market went down and Now the home is not worth what he has in it.
When I asked that magic question, " what would you take if I offered cash within 2 days". The answer was "What I have in it $52,000". Total veiw showed average value at $61,800 and it needed work.
I told the owner that noone was going to burrow $52,000 in that condition. However the Materials to finish the job were already bought and on property.
The After Repair Value could reach upper seventy thousands.

Much to say here, but I will keep it brief after initially posting the details and losing it all during the preview.

Received a phone call from a motivated seller on Jul 21st who found my website that was paying a mortgage on a vacant house for her sister who is in a nursing home.

The ARV is around $100K with 20K in repairs.

Due to the caller's busy travel schedule we wound up meeting the first time around the end of July. I made an initial verbal offer of around $35K that was rejected. I then left an offer on a sticky note for $46,500. She decided she wanted to entertain other offers that were coming in. Well I received a call a wk or so later stating that she would accept my offer of $46,500 which included a nice pool table.

Well sort of...We (my father and I) put an offer in on 5 acres of land with a manufactured home on it. Hud was asking $124,500. Property is worth $180,000 and needs about 10K of work which we won't have to do. Our offer was $95,000 and they accepted it!! Best part is we already have a buyer set up who has agreed to a price of 136K. We are about to go down and sign off on the acceptance so we are still in the prelim stages of this but that's a gross profit of 41,000!! We are pretty stoked. We didn't have to come up with any money on this deal. Zero out of pocket, and this deal more than pays for our money spent on the academy and insiders edge. WOOOOOOOO!!!! Thanks to Dean and his staff and everyone on DG.com.

I been reading and learning this real estate stuff for the last 3 months. I got a huge buyers list from my postings on Craigs list. I got a half dozen sellers to contact me. One of the sellers was a couple that wanted to retire and cudnt afford their payments. They were actually willing to give me the house.The house was underwater by a lot. I advertised their home to just take over payments, and had this one couple hounding me to get the house. I had them give me a Thousand dollar non refundable deposit. I thought, hey that was too easy, I was going to make $8,000 after closing. The next day the seller emails me to say they decided not to sell. I was devastated. I had their home on contract. but I told them I wud tear it up.