Member
Joined: 2009-06-03
Points: 52
Offline
Name:
Scott
Location:
Tucson, AZ
Title | Poster | Replies | Updated |
---|---|---|---|
Dean Graziosi Weekly Video Blog #138 - Watch this, win Dean's iPad | dgadmin | 2401 | 8 years 29 weeks ago |
The housing slump is far worse than you think | TrustPoint | 9 | 13 years 23 weeks ago |
DO NOT GIVE UP THE KEYS TO YOUR CAR | RealEstateAndBeyond | 5 | 14 years 26 weeks ago |
Greetings from sunny, 105% Tucson! So, after being st the EDGE '10, how could we NOT get so excited! It is tough getting going, but I think we may have hit something.. A couple of weeks ago, my wife was looking in the paper for FSBOs, and came across this perfect tri-plex, very close to the college, in a historic district. She called, and the lady's husband had recently died, and she wasn't sure that she wanted to sell, but said the property was paid off, and has 100% occupancy for the last 7 years, by college grad students, and professors. She was willing to carry, but wanted 50K down. Well, it turns out that on our Anniversay, last Thursday, we just decided to call her back. Something about this place said it was the right fit. I called her back today, offered 18K down, and asked her to carry the note for 5 years at 1800 month. She wants 400K, and it cash-flows now at 2800 mo. Tax is 2200, and Ins 1K. She said she has to talk to her Son and Doughter, and will call us back next week. It's hard not to get excited or emotional, so I hope she goes for it.. WAAHHH!! I'll let you know what happens!!
Thanks, Chris! We will check it out every day! What do you think of the deal?
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Scott and Susan,
It was a pleasure meeting you at Dean's Gain the EDGE event 2010. Good luck with real estate investing and we are looking forward to readign about your future deals. Believe and Achieve! - Joe and Stacey