OfflineLately, I've gotten my eleven year old daughter involved in some of my real estate tasks. One of these task consisted on locating distressed homes or homes that appeared to be in distress. About a month ago she spotted a home while coming home on her bus route. We drove by that evening, got the address and sent the owner a letter. The home had been vacant for a while, the owner passed and left to the son. The son was moving to Florida, but hadn't been able to afford the upkeep and decided not to list due to its condition. The ARV on this home was around $132k, no mortgage but there were some liens and back taxes totaling $9800. Needs around $20k in repairs, we agreed on a price of $61,950. Ive sent to buyers, shown one and will be showing to two buyers tomorrow. Hopefully I can have this deal closed before Christmas. It's a tight squeeze, but title has already been prepared, all I need to do is give my title company a clear to close date. My daughter was so excited and has been on the look out for more. HAPPY HOLIDAYS ALL;) !
Lenee
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
That's awesome!
Teresa
College Station, TX
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"Declare that you will prosper despite every difficulty that may come your way. Don't just survive; thrive!"
-Joel Osteen
way to go ms indiana, not tight, bout 30k profit, 5 for you & 25k for flipper that's a 20% return if I am not mistaken on the deal. Awesome! I try to get 20^% for my buyers or more. Here in San Diego 10% is good or even 7%. thx
Tony
Go faster do more! GFDM!
Thanks Teresa. She's really excited...will be more excited once it closes.
Thanks Tony, it's actually $10,450 approximately (if I keep with 70% ARV, but in this area I could offer it at 75% ARV and get roughly $7k more). I'm pretty sure one of the buyers that walks it tomorrow will take it, so I just offer it to her at a lower price, as I can easily make it up on the next deal we do.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Your daughter has the bug! Hehe! She will be set for life! That is a great way to find deals and make it work for everyone! Win! Win! Win! Situation for sure!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
You are Teaching her well!
The Princess will NEVER need college.
ALWAYS take a different route and you Will see deals.
Looks good
Happy Holidays!
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Nice job on having your daughter aboard on helping you find deals. I need to sit down with my daughters and have this talk with them on being my little bird dogs LOL. Happy holidays
Reynold Orozco
Great job! So exciting for your daughter and a proud moment for Mommy!
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!"
Congratulation! You're already preparing your daughter to be your partner by starting as your Bird Dog! Way to go!
I'm sure this will add a great deal more blessings to your Holiday season! How wonderful! Keep the momentum going in the New Year, Lenee!
StayingPositive
Sharon
teach'em young. she'll have her own cash to go to college on... with new car to boot..
have a great 2015
WALT
Hey Lenee,
Did you get this deal done? LOVE how you have your daughter involved, get that young mind thinking real estate, sweet!
SEMPER FI
GET SOME!