Jill & I just locked up another REO, this Fannie Mae property is a 2 bed/2 bath/1 car garage with about 1500 sq. ft. of living area. It was listed at 44,900 & we went in at 28K; they came back at 41,900; so countered at 32K, they dropped to 40K; we went to 36,250 & they dropped a big $100 down to 39,900. So we went up $100 also & they accepted $ 36,350.
We were emailed instructions to wire transfer the EMD ... after reviewing it I noticed it was for a different property, no one in the RE office or the law firm checked it. I'm glad I found it because if I didn't our deposit would have been floating in limbo.
We figure we need to spend about 10K in materials
for the remodel & should be able to sell for 65K to 69K. A very nice return!

The super-successful real estate investor is one who thoroughly understands their market. They will constantly be gathering information like local news, economic factors, zoning ordinance changes, and a ton of information and photos of individual homes for sale or recently sold. They will also be taking photos and doing research on vacant homes to see if they may present an opportunity.

Lets start a list of DGers going to the EDGE!!

Post your name on this thread and lets all make the effort to meet and NETWORK with one another. There is plenty of time before the Edge starts each day, time during breaks and lunch and then a TON of time afterwards to go to dinner and/or hang out around the pool or lobby area!!

See you then!
Michael

Hi Everyone,
I picked up my check today for my 6th wholesale deal that I have closed since reading Deans "30 Days To Real Estate Cash" book. I have been doing this very part time for the past 2 years, but I also have a full time job so I do what I can to make things happen. I enjoy sharing my success on this site to hopefully show other newbies that this CAN work, no matter what the nay-sayers say!

Properties converted to rental units have been a major force in real estate market improvement the last few years. Cash investor buyers, including institutional and major investors like Blackstone Group, have been buying properties in bulk for rental investing. A lot of this activity has been focused on “fix-and-flip” investing. The property is purchased in poor condition, fixed up and then sold as “rent-ready” to another investor.
This strategy has worked well for many, with a steady supply of tenants and rising rents making it lucrative. Passive investors who want to become landlords find the availability of a “turnkey” rental unit very appealing. However, let’s take a look at how one “turnkey” or “rent-ready” unit can be a better investment than another.

I'm a 50 year old retired high school teacher, mother of three and grandmother to two. Last May/June I attended my first Dean Graziosi weekend seminar and was inspired. Real estate investment seemed like a perfect "fit" for this next stage of my life as it gives me flexibility to spend time with my grandchildren and gives me goals and purpose - - - and hopefully financial reward!!

I'm a Canadian in an area that has a strong seller's market. I find it tough to find properties with potential that are deeply discounted.