I have a great new
deal that I am working on with one of
my partners.
Here are the details:
-We have a house under
contract to purchase for
$27,000. We close in 7 more days.
-We got the house for
pennies on the dollar. It needs work,
and the seller needs money fast.
-It needs about
$60,000 in repairs. We will have a hard money lender I have previously worked with finance the entire amount.
-We have a contractor
lined up to handle the entire project. We won’t need to lift a finger.
-I already have all
the materials, finishes, and paint
colors chosen. I use the same ones for every project. All I need to do is email the
list to the contractor.
-The rehab should take
about 6 weeks.
-We will be able to
sell the house fast for $149,000.
-After all
commissions, carrying costs, etc, we
should clear right around $48,000 profit.
Remember, you have to
TAKE ACTION in order to make money in
real estate. Most people do not
take action, and therefore never reap the financial rewards.
