Deal signed !! Partners with my boy :)

Deal signed !! Partners with my boy :)

It's been awhile since I posted my deals but this one is special because my son Justin partnered with me !!! This is how exactly how it went !!
1- placed bandit signs out at strategic locations ... Such as the entrance and exit of Walmart !! Yellow with big black sharpie , 18* 24 size sign that says....I BUY HOUSES ANY COND. ###_###_###
Wait for calls .... MANY MANY calls come in.... Document ALL callers and ALL info on lead sheets. Ask
1. Their name 2. Ask where they found your # so you can track your marketing to see what area signs r working the best 3. The property address 4) how many bedrooms/ baths and approx sq footage... Note : you will need this to do your comps to find out the ARV
5) size lot, garage? Basement? One/ 2 story ?
6) general cond and if and what repairs needed
7) WHY r u selling ?
Cool what is your asking price ?
I then asked them for an estimated repair cost if any in THEIR opinion.
As for the WHY R U SELLING I LISTENED to THEIR motivated need and DOCUMENTED in my notes EVERY thing they said. Sometimes I even use my iPhone voice note to record so I don't get writers cramp Smiling. Their why is so important because there may be MULTIPLE ways you can help these motivated sellers to make it a win / win.
In this particular deal the owners son called me for his 86 yr old mother to say she wants OUT of this property. The property is 3 mobile homes on a 4.25 acre lot !! The tenants had problems with water line and owner got estimates to high to validate keeping and investing further due to her age. Ok so after all my questions I realize I had drove by and inquired about this property 2 yrs ago because it had 2 vacant and one rented so I stopped to ask the tenant about it. I kept all info from 2 yrs ago !!!
While on the call with the son I immediately made a verbal offer of 10 k Smiling)
He responded with heck no .... A realtor looked at it and estimated value of 26-30 k !!
I responded with if you need to get full market value then listing with a realtor would be your best avenue but it may take 6-8 mnths to sell !!
Well we then visited the property to find other repairs not known to owner and ended up signing purchase agreement for 13 k !!!!!
AWESOME DEAL !!!!
Visualize adding a little value to all 3 properties and separating the lots to sell EACH property for 5 k down , 500-600 per Mnth for 40 k each on a rent to own with 8% interest EACH !!!!!
Justin and I are tweaking our monopoly game experience !!!
LUV being the banker Smiling)
Lessons- negotiation is KEY
due diligence is KEY
Knowing or using a free contractor estimate is KEY
overcoming your fear of making the low offer is KEY
If you haven't learned your WHY for learning and investing in real estate ? Do this exercise www.deangraziosi.com/why

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


Valerie

Thanksss !! It is sooooo awesome to be investing with justin !! Doing more and more deals with him and seeing
Him learn the recipe is going to be BETTER!! so EXCITED to know this is just the tip of the iceberg :)$$

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


Donna

Yesssss. Awesome!! We are getting this ready to flip all three when repairs r done or rent to own each individually for a down Pymnt and MNTHLY. I know you lease option a lot of your properties so u know the EXCITEMENT of getting an awesome deal !! It is sooo cool being able to have the opportunity to decide what avenue to go with each property but being able to do it with Justin is FANTASTIC!!!
Jay

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


Partner with son

Hey Jay I'm just starting out. I just Joined success academy. I havn't done my first deal yet, but reading your great experience with your son "is awsome". That's what I am planning on doing my son as soon as get a couple of deals under my belt. Thanks for all the great tips! especially on Y. Congrad! on the deal as well.
Cindy

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Cbardy43


WOW

Just saw this post, loved reading this bro. Can't wait to turn the first one with my boys.

__________________

SEMPER FI
GET SOME!


Mobile homes SOLD !!!!

Finally got these babies SOLD on a land contract. WOW what an experience marketing and going through multiple l/contract seekers !!! I have a TON of info for a book on all the callers and seekers of land contracts:)) some stories are incredible and some crazy !! But justin and I finally have sealed and closed with a buyer on these. Not a huge profit but a deal just the same. After many offers and downs fell through we persevered and got $10 k down and $550 per month at 8% for 20 k !!!! I will post all the details and some short story with all details soon. JUST EXCITED to be investing with my boy !!!!

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


Perhaps old data ,with great twist to work

Every where you go you get excited or depressed .
You make the choice .


Congrats to you and Justin

Way to go Jay! Glad you got these moved, NEXT!

__________________

SEMPER FI
GET SOME!


Yesssssir Jack !!!!

This one ALMOST was lost but was DETERMINED to close it !! We took a cut in profit but better less profit than none at all:))

__________________

Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...


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