Are you ready for this DG family? You are about to be blown away with what I tell you. And, if you are in a situation where your home is considered underwater on Zillow, regardless if Zillow is right or wrong, you may also be able to do this to. AND, you do NOT HAVE TO BE BEHIND to do it. I was always current.

So, I've had this goal of eliminating my 2nd on my primary home since I began my journey. And, although I've been working hard and am turning around a company that was once so negative and had lost massive net worth due to the RE market turning around, I wasn't making a dent in this goal (some, but not much considering my balance). Until now.

Still catching up, this was my 10th deal, 6 months after my first offer was placed October 4th, 2011.

I had posted this one as:
http://www.deangraziosi.com/real-estate-forums/success-forum/106976/lock...

Deal 10:
"Union"
NOT an REO
Listed at $76,900, locked-up at $53,200.
This one was out of my "old client/ hard core 25 deals a month buyer" criteria, BUT I called him anyway and he was SO HAPPY to get it. A tenant had been n place for 9 years, so it was a Turnkey deal.

I passed this to him for $3,000. He funded it and reimbursed me for EMD. Per usual, I Quit Claimed it to him.

Profits by the end of April:
Cash: $25,270
Projected after the 2 JV Rehabs are completed- $54,270.

Deal 9 was posted as:
http://www.deangraziosi.com/real-estate-forums/success-forum/106955/lock...

Here's the summary:
"Karen"
REO
Listed at $58,900, locked up at $45,000 (not nearly the spread I had been getting, but with the tightening market, and the whole valley listings down from 21,000 in Dec to only 4,200, at least I got it.

Passed it to same buyer that called on the bandit sign for a fee of $3,270.

The profits to date were:
Cash- $22,270
Projected with the 2 JV Rehabs- $51,270

Thank you for listening!

This deal is a great example of how important it is to follow up on rejected offers!!

My first offer was on Dec 8, 2011. We resubmitted four times. Offer finally accepted the first week in MAY!!!
If we had not chased this one we would have not gotten it.

Organize your follow up system!!!

Numbers

Accepted offer of $30,000
Sold to my buyer for $42,000 plus all closing costs.
ARV $150,000
Rehab $50,000

I made $12,000
My buyer will net around $40,000

My buyer- husband and wife team of active fix/flippers. They do around 40 properties a year. Called me this morning on three properties I have under contract. I won't have to send these properties out at all more than likely. I use my websites less and less these days!!

Michael Mangham

Foreclosures are still moving along in every state. Some states are getting ahead of the curve, with foreclosure activity down in the first quarter of this year and new delinquencies down as well. One activity that’s contributing to this trend is the new attitude by banks as regards short sales.

From 2007 into the last quarter of 2011, short sales worked for fewer than 25% of buyers of all types. Many investors avoided them, as banks took months to respond to offers, made repeated demands for the same paperwork, and generally just seemed like they had no desire at all to sell short, preferring to go on to foreclosure.

Hey, can you say FINALLY?? Got my first deal done today. It was an assignment and my profit was $2000.00!!!

Oh happy day!!! (music playing)

Shirley