2 Deals Closed from 25-1 Srategy.Thank-you Matt and Dean!

this is so coooooool I will do mine also shortly hope you will do many many many more.
It seems as if the deals are evulving me on my 7th day but thats o.k. I will keep on looking

I am also making offers off the MLS & am going to to that right now! Wrkng on my 1st deal.

Congrats on your deals!
got a question for you though.
You mentioned that you put 5-10 offers a day, do you go out and look at those properties to estimate a rehab cost and base your offer off of that? or you just offer 50% off asking price? Do you have your realtor pull comps on all the properties you put offers on? Seems like a ton of work for a realtor. Cuz that's what i'm trying to do and kinda stuck here. Have not made any written offers because of it. please help, how do you do it?

Wow thats great. Thats a heck of a payday. Let's make some MONEY Rando1

You know the time is right, when everything is in place for you. Good job & keep it going!

Im so Happy you found a Realtor who is also your friend.
I can only imagine and feel what it is like to have that exact same feeling!!!=DDD
I TOO HAVE A REALTOR WHO IS ALSO MY BEST FRIEND! WE MAKE MONEY TOGETHER ALL THE TIME AND HAVE SO MUCH FUN DOING IT!!!

SECRET TO LIFE!
1)DEFINE WHAT YOU WANT! (FEEL THE FEELING) (better: to have THE FEELING of what it is you want, than to be specific or general)

2) FOCUS ON IT ALL THE TIME!! BECOME OBSESSED WITH IT!

3) HAVE A BURNING DESIRE FOR ITS ACHIEVEMENT!

4) AND WHEN YOU THINK ABOUT IT, YOU FEEL GREAT!!!!!=D
feelings of EXHILARATION AND ANTICIPATION.
LIKE:: its already in a BOX, with your name on it, and its under the christmas tree, ITS ALREADY YOURS!!
YOU KNOW IT. and NO ONE IS TAKING IT AWAY FROM YOU!!!

YOU DO THIS AND ALL YOUR DREAMS WILL COME TRUE!
i recently came across this RARE SECRET, and YES IT TRULY DOES WORK! IN RECORD SPEED TOO!! =D

and if you think about it. If you see DEAN in his Blogs, HE IS GOING THROUGH THIS PROCESS ALLLLL THE TIME!!!! MODEL & MIMIC WHAT HE DOES!!!

GOOD LUCK TEAM!!!

Thanks so much for sharing your success with this is no doubt just one of many that will come your way... I have made it my goal to put myself and my family in a better situation financially and know that RE is the way to do it.

Since your question hasn't been answered yet, I will tell you what I do. I give my realtor my basic criteria for the properties that I want pulled. I then go through them looking for phrases that show distress- "As is", "Handyman Special" "Needs TLC", etc.

On these properties you deduct the amount that will work in your area (for example sake we will offer 65%) from the asking price.
Asking $100,000
$65,000 (your percentage used in your area)
minus your fee 3,000

Offer $62,000

Do not waste your time pulling comps or going to look at the properties until you find out if the seller will even consider coming close to your offer price. If they agree to this offer, you have usually 14-15 days for inspection time. This is when you go look at the property, assess repairs, run comps, etc. If you find that the repairs are higher or the initial price of the house was way off of the comps then you let the seller know that you have to revise your offer.

If they won't even come close to accepting your initial offer, you have not wasted much of yours or your realtor's time. That is how a lot of people burn out their realtors (and themselves trying to look at all those props). Respect their time and do as much of the work as you can-especially at first, until they see that you will be making them some $$$. Learn how to do your own comps, etc.

Good luck!

Karen

Congrats on your deals! It is wonderful once you get in the swing of it!

Keep us updated.

Karen

Thanks for posting your deals. I haven't been putting in as many offers as I should. This inspires me to do more. Thanks and continued success!!!

Lori

Are you putting in your offers or is the Real Estate agent? (Contracts)

Wouldn't you go off of the ARV x65% Not the asking price for your offer?

If they accept then I look at comps and minus repairs, what realtor fee will be off there doing a flip, and then closing cost and my fee.
Hope this helps.

I don't go off the asking price,I go off the ARV.

Vacant, as-is, needs rehab, price reduction, or needs TLC.

Way to you WOOOOHOOO !!

determine what will work in your area?

Thanks

When I am initially putting in 20-30 offers in one day, I don't have time to pull my own ARV on every property. I use the asking price for my initial offer (most realtors, if they know what they are doing, have used comps to advise their client on asking price).
Then, if I get an accepted offer, I go back and do my own due diligence-when you do your own comps, you will be coming up with YOUR ARV estimate. If the offer needs to be revised, you have the walk thru period which is usually about 15 days, to do that.

For my MLS offers, my realtor puts those in. FSBOs, I put them in.

Karen

Why are you subtracting the realtor fee? The seller pays that.

Karen

If you are referring to the percentages, ask at your REI meetings. In So CA rehabbers are buying at 80%, so it can vary quite a bit in different areas.

Karen

And thank you for inspiring us to just do it!

Im subtracting realtor fee for my buyer, if he's flipping it so he can see his all out profi. After he pays Realtor fees closing cost etc.

thanks Karen & everyone else, I am making offers off of the MLS too doing exactly w/you guys are doing & I dont have any comp's pulled until I get an offer accepted as well.

Sorry. I misunderstood. I thought you meant you were subtracting it from your offer.

Karen

Thanks!

Are you getting offers accepted on your listed price?

Seems in my area the listed price for properties that are listed as is or vacant and so on are all listed below Arv or FMV.

I am having a hard time getting these accepted at Arv

Jay C

If the property is listed below market value I still subtract repairs and fees.Then if it gets accepted you know it well sell quick to one of your investors.

I make sure the wholesale price it at lease 30k below MLS price.

My initial offer is not usually accepted. We have to do some countering.

I am a little confused on the second part of your question, but I agree with DL that even if the price is listed below ARV you will have to allow for repairs and your fee.

I still base my final numbers on ARV, even if the asking price is lower. ARV is what the end buyer will be basing his numbers on. So if you start with that, subtract your %, repairs and your fee, you should still be covering your a$$ets.

ARV (based on current and accurate comps) is what everything hinges on. Asking price can be any number anyone wants to make it up to be, so you cannot depend too heavily on that. I DO base my initial offer on asking price because when you put in a lot of offers you can't take the time to do due diligence on all ahead of time. But once I have a signed contract and the serious analogy begins, listing price doesn't really even enter into any of it.

Karen

sounds like you are on a roll!

Very happy for you; thanks for sharing with everyone here!

Wishing you continued success,

Can someone explain this 25-1 strategy for me or send me the link to where I can see the information. If it's in a book, what book is it in?

Thanks!

Yes, I want to know also please where the 25-1 info is. Thank you!