$$$ HOMERUN $$$

Nice one Mike!!

Congrats Mike, thats really awesome.

___________________

Zoey

LIFE IS WHAT YOU MAKE IT

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

What a sweet deal, Mike! Congratulations!

Karen

Good Job Mike

Congrats to the fullest

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

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!!!!

This was a great deal indeed! Way to work it!

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!

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.

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

Your the man Mike.

Steve.

what was the net profit? Way to go man!

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!

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

Hey Mike, that's Puhol type hitting there.

Cardinal Style!

Way to Go!

Rodney

Great deal! Congrats!

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.

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

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.

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

sharing many more with the rest of us.

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 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!

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!

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

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

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

Beats playing little Lotto......

Brian

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

Carolyn in KY

For an icon that is. Deal Maker!