OfflineI think it'll be fun to look back at this journal and see if I made any money or progress.
Tommorow, I go to look at my first property after having puchased Deans Millionare book. His book spurred me to get off my butt and do this.
I have a life partner who has good credit and a great job. I'll do all the legwork and the sweat labor... he just has to sign his name in a few places. He's got the easy part! LOL. I'm fortunate to have a partner who trusts me fully and is enthusiastic about investing in real estate.
A little about the property...
1760 sq ft. - 3 bedroom - 2 bath - detached garage - $2300/yearly taxes. Research on Zillow.com shows me that it sold in 2004 for $124k then again in april of 2008 for $156k. Now, it's on the HUD website as a foreclosure for $89k. I don't know what happened in 9 months to make this property worth $67k less but I'm taking advantage of it!
A little elbow grease and I should be able to flip this property within a few months. I'm hoping to make $30-$40k. We'll see!
See my target at the attachment link below.
Hey, I LOVE your enthusiasm! Can't wait to see you flip that property!
Good to have you as an addition to the DG family.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Just a hint. Zillow isn't the most accurate site. I'd get some comps to be sure. That way you bring your risk level down. Especially since you're doing this with the most important person in your life, your partner!
Keep us posted on what happens!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Yes, be careful of Zillow comps... and if you want to double-check on those "sales" numbers you should be able to look that up on your county website. If they're on, SOUNDS LIKE A DEAL!!
Rina
P.S. Lena, it's SO nice to have you back!
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I checked it out today. They're asking $89k. I think I'm going to put in a lowball offer. Probably $65k. It needs a lot of cosmetic work and the furnace looks like it's 50 years old. I have no clue about the condition of the pool.
HUD is offering up to $35,000 in a 203k rehab loan. I have to research that.
Move in ready with a new furnace and working pool... this place would be worth $170k I think.
You might be able to click each link... but I think you'll have to copy each link and paste it to your browser to see the pics. I'd love to hear your thoughts on the place.
http://img.photobucket.com/albums/v517/esop/Picture014-1.jpg
http://img.photobucket.com/albums/v517/esop/Picture016-3.jpg
http://img.photobucket.com/albums/v517/esop/Picture024-3.jpg
http://img.photobucket.com/albums/v517/esop/Picture019-3.jpg
http://img.photobucket.com/albums/v517/esop/Picture017-3.jpg
http://img.photobucket.com/albums/v517/esop/Picture008.jpg
http://img.photobucket.com/albums/v517/esop/Picture007-1.jpg
http://img.photobucket.com/albums/v517/esop/Picture004-2.jpg
http://img.photobucket.com/albums/v517/esop/Picture027-2.jpg
http://img.photobucket.com/albums/v517/esop/Picture026-4.jpg
d0n,
Pretty good find...good luck & keep us posted ok?
Is that a deck in the last picture? Looks like a lot of paint will go a long way in this place!
Dawn
Life's a Dance you learn as you go...GET HAPPY FEET!
"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed no hope at all." ~Dale Carnegie
d0n I think you got a good thing on ya hands just follow through. Cash in for sure. Kingjuss,
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)