$$$ HOMERUN $$$

$$$ HOMERUN $$$

Through a Realtor I found a great deal.

$185k Contemporary,3800sqft on 3.2 acres Foreclosure
$13k repairs
$379k ARV
This deal took 4 months from start to finish.

Sold for $310k and closed yesterday!!!Homerun out of the park.

Deals are out there-just know the values and you will see deals. TAKE ACTION!!

Next...

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NICE.....

Nice one Mike!!


Congrats Mike, thats really

Congrats Mike, thats really awesome.

___________________

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Sweet

Way to go, what a deal! If you snoop and sniff around enough you ll find em.

__________________

Ross


Awesome!

What a sweet deal, Mike! Congratulations!

Karen

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Mike Money Bags!!!!!

Congrats to the fullest


Congrats!

Was this a shortsale or ? You gotta lova a good deal when you find it.

reinvestor42 wrote:
Through a Realtor I found a great deal.

$185k Contemporary,3800sqft on 3.2 acres Foreclosure
$13k repairs
$379k ARV
This deal took 4 months from start to finish.

Sold for $310k and closed yesterday!!!Homerun out of the park.

Deals are out there-just know the values and you will see deals. TAKE ACTION!!

Next...


3 of these a yr

would be GREAT!!!!! but, it would leave me with too much time on my hands. The deal took 4months from start to finish, but, I didn't spend that many man hours on the deal. (25-30hrs)

Thank you All. You can do it too!!

Normally I just wholesale and assign deals, but this one had too much profit involved. Nice place with acreage and Mountains views. Ask for pics.

I struggled with the decision of just wholesaling for $30-50k or just following through to end buyer. Any way it was a GREAT deal.

DEALS are out there. This one came to me from a Realtor.
It was an REO. My Realtor knows what I want and sends the deals to me. I did NOT try to negotiate the price....paid asking and BOOM. Quicker. REO's can take too much time.

BTW I marketed the property to ppl that was relocating to the UVa town area where there is a new Government Intelligence (NGIC) facility.

Get EXCITED and find some deals!!!!

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Mike
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congrats Mike!

This was a great deal indeed! Way to work it! Laughing out loud

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Good job!

Tell us a little more, how did you find it? what type of repairs did you have to make?

Tell us a bit more about the transaction.

Thanks!

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Great Job Mike

With a deal like that you could get lazy & sit back for the rest of the year ... but I don't think that's your character.


Mike

Great job Mike. Now you have some money to work some more nice deals. Keep going.

Your the man Mike.

Steve.


sweet deal

what was the net profit? Way to go man!


WOW CONGRATS!

Now thats a deal!! Did you carry a mortgage for the 4 months? I have thought about looking into deals with more of a spread like this but nervous about sitting on $200k mortgage waiting for the buyer, the deals are out there, its just a matter of man up to do it like you did! Its great to see this after spending all day working on our flip, we don't have a spread like this one, but we will be happy with the profit once it dells! Awesome job Mike!

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SEMPER FI
GET SOME!


very good deal

you are right that was a home run with men on base. looking to hear about the next one


Out of the Park!

Hey Mike, that's Puhol type hitting there.

Cardinal Style!

Way to Go!

Rodney

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Hi Mike

Great deal! Congrats!

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homerun

TomAndJeri wrote:
Tell us a little more, how did you find it? what type of repairs did you have to make?

Tell us a bit more about the transaction.

Thanks!

Tom and Jeri,

Realtor gave me heads up on this one. Was a cash purchase. Repairs were, exterior paint,some fence repairs, 2 Large windows (6x10)replaced, ceramic tile flooring, some interior painting and some small bathroom upgrades and resealed the driveway along with some brighter front landscaping for the WOW affect.

__________________

Mike
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Greg

masseur07 wrote:
congrats. sounds more like a grand slam than a homer.

I think you're right- it feels like a Grandslam Homerun!

__________________

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Jack

jackk09 wrote:
Now thats a deal!! Did you carry a mortgage for the 4 months? I have thought about looking into deals with more of a spread like this but nervous about sitting on $200k mortgage waiting for the buyer, the deals are out there, its just a matter of man up to do it like you did! Its great to see this after spending all day working on our flip, we don't have a spread like this one, but we will be happy with the profit once it dells! Awesome job Mike!

Jack,
Thanks. No mortgage -cash purchase. If you're worried about carrying mortgage,look into an 'interest only' short term. Don't worry about the higher prices,zero's mean nothing.
Congrats on your flip.
For your buyers, I run ads for the property b4 I close if I don't already have a buyer lined up. I usually have hte property sold b4 I get it.

__________________

Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools


mike

WOW !!!!! THAT ONE will raise your battin average !!!! great job....thats how its done !!!! congratulations and i can feel your passion for real estate !! keep cranking um out !! hey take a little of that profit and book the cruise with us and share your wisdom !!!
jay

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Wonderful job my friend. I look forward to your

sharing many more with the rest of us.

__________________

Steve

We seldom get what we want, but we will always get what we expect.


Zeros

UNLESS you're in CA where there isn't a hard money lender that will do any loan without at least $30K skin in the game. You'll need a true private money lender or get creative with the 'skin'. CA sucks Sad but it isn't impossible to do a no money down even with the "skin in the game". But, you're in NC I see, so you don't have to worry about that! Laughing out loud

reinvestor42 wrote:
Jack,
Thanks. No mortgage -cash purchase. If you're worried about carrying mortgage,look into an 'interest only' short term. Don't worry about the higher prices,zero's mean nothing..

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Follow my JOURNAL (journey) here: http://www.deangraziosi.com/real-estate-forums/investing-journals/99510/...
Checkout my websites: www.zionpropertiesandinvestments.com
Please come to my fb page and LIKE me: www.facebook.com/WeBuyHousesHonestly
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Congrats on your deal again

Congrats on your deal again Mike!Hope to see many more success stories. Just curious as to what your hml conditions were (rate, term, etc...). Thanks!

__________________

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www.allstarhouses.com

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MsIndiana317

MsIndiana317 wrote:
Congrats on your deal again Mike!Hope to see many more success stories. Just curious as to what your hml conditions were (rate, term, etc...). Thanks!

Lenee,

Thank You

NO HML used - even if you had to use them look at 15-18% (or more for 4 months) less profit-but at least you could DO the deal and make it work.

Cash can be King and OPM always cost- it just depends on how much you're willing to pay and can still make a profit.

I normally do not post any of my deals on this site or otherwise. I've only recently posted two deals,1 in May 2010 and this one. I'm just trying to show and encourage everyone that theres deals out there and you can make you some serious paychecks if you'll take the TIME and learn values....then TAKE ACTION.

Wishing Everyone takes the TIME and get deals done,

Mike

__________________

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Tammy

Zion Properties wrote:
UNLESS you're in CA where there isn't a hard money lender that will do any loan without at least $30K skin in the game. You'll need a true private money lender or get creative with the 'skin'. CA sucks Sad but it isn't impossible to do a no money down even with the "skin in the game".
reinvestor42 wrote:
Jack,
Thanks. No mortgage -cash purchase. If you're worried about carrying mortgage,look into an 'interest only' short term. Don't worry about the higher prices,zero's mean nothing..


Tammy,
PM me and I'll give some PML or HML in your area. 100% is still available-just gotta know where to look

__________________

Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools


Congrats!

Good job, I can’t wait to start making posts like this myself!


Great Job!!!!

Great Job!!!! It is deals like this that makes us stay excited.

Beats playing little Lotto......

Brian

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We purchase and resell Homes. We also buy mortgage notes. We also take some debt takeovers.


Very encouraging!

Thank you for sharing, and keep up the great work!

Carolyn in KY


Give that man a Diamond!!

For an icon that is. Deal Maker!


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