He sold a Condo for Pocket Change

He sold a Condo for Pocket Change

Maybe I shudnt get so excited over these small deals, But hell, I just made 2 Grand today sitting on my butt.

My competitor Alan called me on a condo that he cudnt sell, he tried for weeks. It was a 2/1 & in good condition, just needed paint and carpet. He got it on contract for $22,000 Seller was a bit motivated, he had moved 4 hrs away and was still paying $250 a month HOA fees. I don't think he had the 5 Grand to make repairs and get it ready for tenants. I told Alan I never did a condo b4 but I'll see if my guy wants it for 26K

Well, surprise surprise, my buyer says he'll take it. He never negotiated the price, Maybe I shud of asked for 30K

It took about 2 1/2 weeks, just closed today. This is the 4th or 5th deal Alan and I have done together.

We split $4,000 I know $2,000 each aint much, but hell, it pays all the bills, a few steak dinners, groceries, fills up the gas tanks and a great ego boost.

Let's make some frikin money.....

Rando

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Rando


RANDO I WISH I COULD MOVE TO CLOVIS CALIFORNIA......

you are getting it done.

I'm ready to start making offers next week. i'm am stoked........my closing attorney is awesome.....$2000 would be awesome to me.. maybe by this time i'll have one under contract.

keep'em coming randy,
WALT


THE GRASS IS ALWAYS GREENER

Haha, Hey Walt, I'll bet there are plenty of deals in your back yard. I do believe you need to be near a big or moderate sized city, that's where the Cash buyers are I believe.
I'm surprised that a bunch of my deals are in the smaller towns around my city. But, my buyers are in the city though.
So where do you live and what is the population? Where is the nearest cities and how far away are they? You want me to come there and kick your butt and point you in the right direction?
Haha, luv ya man.
PS. I just got a new book on being a wholesale Millionaire. $20 on Amazon. All about virtual wholesaling in other states and cities. Maybe we shud get together and kick some butt.

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Rando


HEY RANDY IS IT MARK LANES BOOK ? HE IS A DG'ER

hey r u on facebook ? send me a link in a pm if ya want to...yea i live in a small town of 16,000.

http://www.amazon.com/Become-Wholesale-Millionaire-Mark-Lane/dp/14936754...


It Works

Hey Walt, I sent you a private message. I'll help you slam some deals. One of my bird dogs did a deal on his own bout 2 months ago and made $11,000 He called me afterwards and thanked me for teaching him Real Estate. It's a great feeling helping others. Me and this guy are buddies for life and he's bringing me more deals.

I just got another book, well, actually its a little booklet called "It Works"
Just a few pages with the secrets to happiness and success.
If you want to be Happy and successful order this little book. It's on Amazon for $3.00

And I'm also reading and practicing self hypnosis, and just purchased a new book on that called Hypnosis while you write. All about writing the out what you want to accomplish and feeling it emotionally while going into a mild trance that will produce results.
2015 has been the most profitable year in my life, & it's gonna get better.

Some exciting stuff. Don't neglect your education.

Let's make some MONEY

Rando

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Rando


Nice job

Nice job Rondo. Hey, $2,000 sounds like a good deal for property someone else brought to you and you just passed along to your buyer.

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Reynold Orozco


rando

hahah as usual love to read your posts, 2k is nothing to laugh at & love to see someone else in CAli cranking it out.

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Tony

Go faster do more! GFDM!


He said it wud take 3 days

My buyer on this Condo told me they were going to buy it outright without going thru escrow and they wud have it done in 3 days.
Well, here it is a month later and it finally closed today after finding a small tax lien and going thru escrow.
Buyer just emailed and said he wud have our checks tomorrow.
I also have another deal going with him and he said that will close next week, haha, that really means next month.
I just got another deal going and started escrow a few days ago.
I think it's time for that vacation in the islands, cold weather is coming and I'd rather be on the beach.
Let's make some MONEY.......

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Rando


Outrageous

$3000/year HOA on a $26,000 condo?? Who would fall for something that outrageous and ridiculous!

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P.S. - Everything else is immaterial, irrelevant, and unnecessary.


ROI Return on Investment

I still don't know how to calculate percentages on the ROI. But on this Condo, It will easily rent for $800 per month, with the HOA monthly fee of $240 we still have a cash flow of $560.
In 5 years the cash flow will be around $33,600 Even I can see that in 5 years the buyer has recouped more than his investment including fix up costs and maintenance and taxes.
So, 5 years later and not including value and rent increases. This buyer will have 5 or 6 hundred buks a month in solid cash flow for the rest of his life and his children's life.
Get 10-20 properties like this and your talking serious profits.
It's amazing to me how our renters will eventually pay off the property and make us wealthy.
Is this legal? Haha

Let's make some MONEY.....
Rando

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Rando


Randy

It sounds like your starting to think about buy and hold?
If you decide to do this you should check out all the cost that go with owning a rental. Not trying to discourage you just saying and have cash on hand..
As long as you cover all cost such as, no renter, damage, and things that need repair, don't forget management fee you are good..

You can do it
Aaron


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