OfflineMy Bird dog Partner Len and I got 5 properties locked up on contract yesterday. 2 Duplexes and 3 Houses. All rented, and rehabbed. The duplexes are 2/1 each unit, 2 houses are 3/1 and one house is a 2/1.
These properties are bringing in $2,800 in rents each month. And the crazy part is the rents are under valued, they can be raised. Distressed seller needs cash. Some of the units need some cosmetic, broken screen doors and paint. Some have long term renters. The FMV is about $180-190K Were going to flip them for $138,500 and maybe come down on the price some.
These properties are in Toledo, and in nice middle class working neighborhoods.
Anybody that finds us a buyer we will pay you a $5,000 Finders fee. Are you motivated? Everybody wins on this deal.
Rando
Rando
I take it your in Ohio? If so I love that state for doing deals as well. Great job on putting this together...on to the next one...
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
I have a potential buyer who buys all over the country. However, they are usually only marginally interested in multifamily properties.
I'll check with them, and if you still have the properties available, I'll get back to you soon.
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
Rando AWESOME!!!! That is one strategy that I am working is creating enough passive income to replace is my JOB!!!! Yeah Baby
"Don't tell me I can't, Tell me how I can."
If this deal was in California I cuda sold it in 10 minutes, but the Toledo market is so depressed, nobody has called, I advertised this deal in Los Angeles and Frisco and Orlando and Miami and Cincinatti ect.
I got a few bird dogs in Toledo, they are finding some exceptional deals, houses for under 5 and 7K, But no investors calling. But that's OK, I havnt risked any money just a little time placing ads and recruiting bird dogs.
I havnt given up on Toledo yet, but it's not looking good.
Rando
do you still have that property??? If so, I'm going to speak with a couple of my buyers and see if I can find someone interested.
~Blessed beyond measure and enjoying life to its fullest!~
yes, you can find deals in OH for 5K, 7K, etc, but the areas they're in are not very desirable...
I regretfully purchased a 'turnkey' property in OH from another DGer recently, and when I went to look at it in person, it was not like the photos the he had shown me...
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...