OfflineWe had bought two REOs in the same week for cash in
the end of October.
The first rehab we finished about 3 or 4 weeks ago & just finished the second rehab.
Put them for sale using a yard sign, listed on our website, & some Internet sites. Had a person call from just driving by, Jill was there & showed the house, they liked it ... she told them about the other property & took them over to see it, they also liked that one & made cash offers on both of them! We accepted the offer!!!
Both Properties had New Roofs, Bathrooms, Kitchen
Appliances, Lighting/Plumbing Fixtures, Carpet & Paint
Inside & Out.
House 1 - 2 bed/2 bath/2 car garage; 1435 sq.ft.
Bought for 36,000; rehab cost was 13,000(including new
roof); Total Investment - 49,000; Sold for 60,000; that's a 11,000 Profit or a 22.4% Return.
House 2 - 2 bed/2 bath/ 2 car garage; 1694 sq. ft.
Bought for 41,300; rehab cost was 10,300(including new roof); Total Investment - 51,600; Sold for 70,000;
that's a 18,400 Profit or a 35.7% Return.
House 1 will close next week & House 2 will close
on Feb 1 because it was a Fannie Mae & we have to hold
it for 3 months to make more than 20% of the purchase
price.
AND the buyer wants us to find Another one for him
to rehab & rent so we can do our first wholesale deal!
2012 is going to be an Awesome year!!!
Jill & Gary Sold Two Houses in the same Day to the same Buyer!
Posted on: Sat, 01/07/2012 - 18:42
Jill & Gary Sold Two Houses in the same Day to the same Buyer!
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- by gceriani
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That was an great deal! keep up the good work and CONGRATS to you both again.
Thanks, it was a nice shot ... Happy New Year to you!
Some of us investors have gotten lucky from time to time!
Thanks for the support!
Thanks Bill, it was almost too good to be true...would like to be able to do that every month!
Thanks Steve, hope to keep up the momentum.
Greg, Thanks for the support.
Thanks Aileen.
Thanks Steve & I don't think it's 100 yet, but getting there.
Thanks Val, we did the rehab on the Freddy Mac house 1st since we could sell it at any time upon completion. The other property was a Fannie Mae so since we have to wait 3 months to sell we did that rehab second. That happened to be the house the buyer saw 1st & then Jill showed the other one & he made offers on both!
Thank You so much. 2012 is starting off great!
Thanks Chris, we really appreciate it.
Thanks, it is a great way to start the new year. We will definitely keep
rockin'
Awesome! That's a terrific return. Now that you have these under your belt it's cake from here on out.
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich
This is not luck. This is the result of you working your tails off and these are the results!
Don't be so modest. You are making every one of your deals happen!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Thank You!
Bethany, thank you very much.
Thanks Chris, this makes the 42nd rehab in Beverly Hills, Fl. & selling
these 2 together at the same time was exciting as the 1st deal!
...turned out to be a good day. Had the closing on house #1 & everything went sooooooth!
wow great job!!
For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12
Thanks Karen, we really appreciate the kind words & the complement. It's true you get out what you put in ... if it was easy everyone would get rich, & we know this is not a get rich quick scheme.
Thanks Natasha.
You're on a Roll and reaping the benefits of all your hard work! Semper Fi!! D-LO
Thank You Delores for your support; best wishes to you in re-starting your REI.
Just wanted to let everyone know that we closed on the 2nd house on Wed.
2/1/12. Everything went off without a hitch; having a great title company is worth their wait in gold. Jill & I went in on Tues. night at 6:30 to sign the documents because I had a doctor's appointment at Tampa General Hospital on Wed. morning. We came in Wed. night & picked up the check & deposited it today. Even after 43 rehabs it's still is as exciting as the 1st closing.