All About huw78

huw78's picture
huw meyrick
Warwick, Rhode Island
About Me: 

welll I'm an ex pat from the UK, Wales to be exact, moved here last October and currently working as a Personal Trainer. My wife is from RI and when we got here we were hoping to get a place asap, however that wasn't to be as we both non salary jobs job made getting pre approval a bit of nightmare. Basically we told to wait 2 yrs bfore we cpould even think again regardless of the fact that we had a some money to put down.

Anyway long story short I saw dean informercial most morning when I was getting ready for work, thinking I can do that. Well time got the better of me and I never got around to buying the book, untill recently I read the rich dad, poor dad book that really got me thinking.

At the time we were expecting our 1st born, and living with my wife's inlaws. My mother inlaw told me about a seminar that would talked about buying foreclosed houses. So I gave it a shot, went down and immeditely recognised dean's face, thinking this will be interesting. Now the old sceptic me would have said right at the end this is load of crap just a sales pitch to squeeze money out of people, but I didn't think like that because of reading that rich dad, poor dad. You see, the book and the seminar both said take control of your life, if you want it then only you can get it. "pull the trigger".

So I signed up and after the if 1st course left thinking, easy I can do this. Until I opened the books and get so overwhelmed by it all. Then I read dean's Book and it all made sense.

Well right now I have just completed the boots on the ground course, which was so informative and so helpfull thanks again Gregg. Sincethe course I have asked my realtor to put in 25 low bids on my chosen properties all REO's, and I'm waiting to see what happens. I do have a few Buyers lined up, and I am always looking to work with new people.

So I pulled the trigger and I'm excited as to where this will take me.

Oh and we had a baby girl born October 31st, she is soo cute.

All sports, movies, house hunting has become a new one lol

Basic Info

Personal Trainer
Have Child(ren)
Completed College

Sites I Visit

Mainly Just This One


Hello, Follow the link

JJD's picture


Follow the link provided below, download files, leave comments and Enjoy

Here are some resources to get you started! Please leave your comments in the post or two. And, Don't forget to check out all of the other great resources available in the books, links, downloads, conference calls and website provided here.

May You have Great Success on your Journey! You will find a vast array of information at your disposal on this site.
Most of your questions can also be answered by researching in some of the Forums, Posts, and other links available.
It would also be to your advantage to complete your profile to it's fullest as well.
Thanks For Coming Aboard!


rock bottom blue print question on comps

huw78's picture

I have just finished reading through section on comps and if i am wholesaling do i still factor in the profit of $20,000? I akways thought you should leave meat on the bones for the deal?


Comps question

RENinja's picture

If I understand your question correctly, YES! If the market will allow it. If you are wholesaling, you're buying properties that need to be rehabbed. From what I saw on the Edge 2011 dvds, your maximum offer on a property should be below foreclosure comps, thus allowing you to sell below retail comps if you decide to rehab and sell, yet still make a good profit. If you are doing assignments, your profit will be the difference between what you bought the property for plus cleaning it up and READYING the property to be rehabbed(meaning you won't rehab it yourself, you just give your investor a clean slate to start with. If you have investors who will take it as is, then you've got a pretty sweet buyers list) Maybe this example will help. I saw this in one of Dean's videos on in the Lock It Up! section, I think, but I'm sorry I can't remember which one it was exactly. Say the foreclosure comps are 60,000(so that is the cheapest deal investors can find)and the retail comps are 100,000(so that is the cheapest retail deal anyone can find). Say you lock up a property for 50,000. You put 10,000 into a rehab. That brings your investment up to 60,000. Put in another 10,000 for other costs. That will bring you up to 70,000. Put your deal for sale for 90,000 and someone will buy it. There's your 20k profit.
Of course this is an very ideal situation, so your profit will depend on your market If you can't make the kind of profit you want to, walk away from the deal.
Hope this helps. Good luck!