ANOTHER DEAL !!!!

Awesomeness, if there were ever such a word, lol! Congratulations.....your successes are truly inspirational!

Great job! Love these types of deals! You are just KICKIN' IT! I just can't keep up! I concede! I've had so many offers fall through, but I have 10 more pending, so ONE will go through with persistence, that's what its all about!

you'll be buying my ticket for that cruise as you have too much cash floating around because your bank won't let you deposit anymore money!!!

Congrats on the new Deal, I have question, how is it you are making 500/mo when 8% on 38k minus the 5k is only about 242/mo with principle and interest.
Thanks for clarifying.

Sounds like your marketing is creating an endless stream of deals, what are you doing in the marketing dept to do that, would you mind sharing. Thanks and I look forward to hearing about, more happening for you.

Awesome job Jay & Karen! Great example of how's it done my friend!

Seriously Jay....Way to Make It Happen!

Blessings,
Jen

Congratulations!!! Again!!

that is so awesome what you are doing, and sharing the secrets of your success with us!!

Keep motivating us!!

Valerie

Congradulations on closeing this deal and more to come...Persistence definitely pays off. WAY TO GO!!!!

My guess is this was a lease option deal of some kind, with his famous mobile home strategy, or it could be a regular FSBO home. He got the house so low, that his payment is probably around $200 a month the the seller, he charges somewhere around $800 a month, and nets around $500 a month, because in that area the rents are probably decent, and the monthly payments can be more than what an apartment or house rents for. 8% interest is for obvious reasons, and the balloon payment or option period is up in 5 yrs.

Is this about how your deal went down, JB? Speaking of which, way to go!

Narmond, thanks for your support .....it takes persistance and I practice the p word EVERY DAY! !! ....EVERY DEAL builds my confidence to go after the next.....and this site has been from the beginning a positive tool to to build confidence and knowledge.....
Jay

You r correct....persistence is ONE of the KEY INGREDIANCE to the RECIPE of success.
YOU r also doing awesome and I know you have the drive and persistence to keep moving forward.keep up your determination.....you r an inspiration to many.just experiencing the different aspects of the dailey ups and downs of rei is an abundance of experience in itself.WE r piling on the experience EVERY DAY we do something rei! !!!!! Way to go yourself tammy! !!!!!!
Jay

Thanks bill ...but I wish that was true!!!! I AM doing all I can to make multiple streams of income though and I KNOW you can afford this cruise so come on and book today so you can share your knowledge with us. We would be grateful to have u MENTOR us on the ship just for a week ....come on ....you in? ???????
We'r not letting u of the hook till u book! !!!!!!
Jay

That is fantastic, Jay! Sounds like it was a great win-win all the way around. And I love the tip on leaving the sign up for a few days longer to get even more buyers for your list. A nice bonus! You are doing it all right indeed!
Nancy

The best deal is 10 year mortgage which is only 400.38.The most common way he purchased this was either a wrap around or a note which I prefer or from DG a lease purchase with option to resale or lease which I think is way more involved than it needs to be. He also may have sold on a note or deed to purchase with a sales contract.A note still being the best way to make purchases and sells of this nature.I don't take the DG course so they may offer differents stradigies than this.I have mention on some of my other comments that you should all no what notes are and how to use them in purchasing Real Estate.These are just my opinion and you should ask Jay directly on how he did this.He's using advanced techniques that most of you have not learned yet.
Kris

You are doing an awesome job Jay. Keep the good work because it keeps us motivated to do more.

Steve.

Jay - FANTASTIC! You keep us all inspired! Congrats!

Great question!!!! I rounded the #s for the $$$$$$ in my mailbox every Mnth ...........I actually am receiving. Exactly $514.35 in my mailbox each Mnth on this deal alone.................38,000 total sale price..........514.35. Per Mnth......at 8%...........for 7 yrs.......just for the ammortization schedule...............they have a five yr balloon so it wont go the whole 7 yrs......but this is done because I find out first what they can afford per Mnth......then make it fit THEM........ this is how I structure it so they can own a home for what THEY can afford...............if it would have been they could only afford 466 a Mnth then I would structure it around that........WIN/WIN
hope that clarifies............I just rounded my mailbox money.......actually im making 14.35 more per Mnth ten I first said.................I guess I should use the actual exact numbers so others can learn clearer..............your on the ball! !!!!!!
Jay

Thank you for your encouraging words!!.I use deans SFL system to generate leads through my squeeze pages and website.I haven't updated my website in a while but still use it.........my www.jaysrenttoown.com works awesome! !!!!! In my local area.I drop business cards EVERYWHERE......I WORK, PLAY AND SOCIALIZE...EVERYONE IN MY TOWN knows I BUY AND SELL HOUSES!!!!.........TOOT YOUR OWN HORN........BRAG YOURSELF UP............LET OTHERS KNOW you r the BEST at finding deals in your area..........after a while EVERYONE. WILLL be talking and spreading the word YOU have houses for them to OWN and can find AWESOME deals that MANY will be fighting for! !!!!!!!!!. I also use craigslist OFTEN...and my local FREE TRADER........I know I have said it before but a quick tip is to register online or get a smartvphone app to receive the local paper ...ONE DAY. ...BEFORE ANYONE ELSE just by registering ..........you will be one of few FIRST IN LINE for the GREAT DEALS.......I also use FACEBOOK,LINKEDIN,BRANCHOUT AND OTHER MARKETING STRATEGIES.bandit signs, NETWORK,NETWORK,NETWORK..........IS KEY! !!!!!!!
JAY

My friend from cali!!!!!! Thanks bro.....and congrats on the partnership and networking.....this is what makes things happen.........great going.....looking forward to hearing about your coming deal!!!!!! Stay hot on it! !!!!!!!!
Jay

Thanks!!!! U r also doing great things! !!!!! Karen and I r PUMPED for the DG CRUISE!!!!!! I will be updating more info about this soon as I have been SWAMPED WITH day job projects..............on that note ....my mom and sister r now going with us on the cruise also.......!!!!!!!STOKED!!!
JAY

way to go, on and on and on.

BTW, I ALWAYS leave the sign up to collect more buyers and leave the property on my website for awhile to also add to buyers list.

Follow Jay.......

Awesome Jay! Congratulations!

Jay I just locked up a deal on Saturday inwhich I posted on craiglist the same day for $55K. Started here leaving myself room to come down.

A bit surprised I haven't received a call by now.

I locked it up at $46.500.

ARV is about $110K. I went conservative with a $95K ARV.

Repairs about 15K.

Should I have started the listing price at around $51,500 or lower perhaps my bottom line price which doesn't give me much room?

Rodney

Congrats Jay

This is just what I needed to read this am. Very exciting.

Thanks for sharing.

:-)Max

Its great to share with others how we do things........it is exactly how I learned two yrs ago ...right here on this very site! !!!!! Also sharing how we do a deal on here just makes us learn a second time as we teach.....
Jay

Thank you! !!! Persistence is one of THE....KEY INGREDIENTS IN THE RECIPE OF SUCCESS!!!!
JAY

This home I got for 18 k. Sold it for a down payment foe a few k down..........485 per Mnth with 8% interest. For 40 k ........5 yr balloon. .............the buyer just defaulted on mnthly payments....and did not pay the last land taxes of 579.......I gave him...MULTIPLE CHANCES to catch up.....mind u he was late MANY TIMES PER MNTH......so I pr the taxes and the late fees.....around 700.........total..........hevthen went to jail........I had the proper legal documents drawn up....had to bring papers into jail foe him to sign and also had to organize a notary public to witness in jail!!! ......cleared all up and marketed the house to resell.........and WHAM.....ANOTHER FEW THOUSAND IN MY POCKET .......MORE BUYERS ON MY LIST.......$$$$$$$$$$ COMING OUT MY MAILBOX ....another family happy to be owners.....and 8% interest on my 38k .......just repeating it OVER AND OVER......GOT TO GET A BIGGER MAILBOX.......!!!!!!!!!...............
YOU CAN DO THE SAME.......just keep DETERMINED........PERSISTENT...........CONFIDENT......DO pNOT GIVE UP! !!!!!!!
I used a land contract for a strategy..........just have had good luck with this....I have also used lease options..........the lease options give u the tax advantage.....of owning it a yr and one day..........the land contract taxes u more but I love the ......no headaches of paying the taxes, doing maintenance....or paying the insurance...........I just go to the mailbox to collect my
$$$$$$$$$ .....take the down payment and PAY DOWN YOUR DEBT..............on this particular

house......I own it free and clear.........so for the next 5 yrs I have 514.35 to pay down on another deal I have financing on.
Jay

way to go! you are an REI machine!

Sweet deal Jay! You are making things happen. I am struggling to keep up with the one flip I have a contract on and the closing of another one I am buying next week, along with the job, wife, and kids. I need to study some on the lease options and land contracts and expand how I can make money in this REI market. Thanks for posting all you do!

where land contracts are frowned upon with owner financing by an investor due to stricter SAFE act requirements than the federal ones (one I know of for sure is IN ) There, the lease purchase or option can be used with a NET/NET (meaning the end buyer pays taxes and insurance outside of the lease on their own) or you can set up an escrow account to make sure they get paid in addition to your monthly interest out of their monthly payment. Just another strategy where you don't need to worry about the taxes and insurance.

thanks nancy...i always try to make it a win/win..........it is fantastic when your training kicks in and multiple things happen.....with a PROFIT involved.i am actively learning every day and i dont ALWAYS do things exactly as i should.....that is called learning......i DEF have a pile to learn....but i am taking action with all the wisdom i have been given or attained.I am proud to say i am a life long learner !!!! .thanks for your support nancy !!
jay