Craig 0 Report post Posted August 18, 2006 Speaking of back to basics.... And...got a tenant/buyer with $5K to put down looking for a property. Adam Adam: One of my partners works in this same manner. People pay him $500.00 to find them a lease/option home of there choice and area. The money is returned if he doesn't find them something in 30 days and subtracts it to the deal if he finds them something. He doesn't spend the money but helps his checking account. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted August 18, 2006 Holy crap Craig, you're going to have to say that again in English! Seriously, I think I understood it, but you may have typed it too fast! LOLAdam Share this post Link to post Share on other sites
<Steve> 82 Report post Posted August 19, 2006 OK, Adam I just received the signed SLO documents and keys from the seller of a townhouse today. Marketing starts tomorrow! How are you doing with the challenge? You can’t let this part timer take the lead. Share this post Link to post Share on other sites
rpoissa 0 Report post Posted August 20, 2006 Holy Crap!! GOT MY FIRST OPTION tonight! Potential??? We'll see. Probably about 10-14K. Now it's time to find a buyer. Question: the house is FSBO through bytheowner.com. There is signage on the lawn, prospective buyers will obviously see this is and look it up. How do you deal with buyers seeing the price on the site, when obviously your price will be higher??? I don't want to ask him to take the sign down because he is still trying to sell it himself. Any thoughts? RobP Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted August 24, 2006 RAMPAGE!!!! I've been going NUTS with the marketing, the calls and the deals! I will have to catch up today just for an update on what's going on! However, it looks as though the CAs are KICKING ASS in this market right now! A TON of people needing some kind of quick sale and this seems to be the preferred method along with true pre-quals from our loan officers.I'll post more shortly!Adam Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted September 9, 2006 Bought home ARV 230K for 125K. Not a bad week. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted September 9, 2006 Bought home ARV 230K for 125K. Not a bad week.That's for sure! Nice Jonathan. What are your plans with this property or exit strategy? Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted September 9, 2006 Lease OPtion of course Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted September 9, 2006 Very cool Jonathan!!! Share this post Link to post Share on other sites
<Steve> 82 Report post Posted September 17, 2006 I just received the signed SLO documents and keys from the seller of a townhouse today. Marketing starts tomorrow!Closed this one with a t/b with $3K down and $100 positive monthly cash flow. I won't retire on this deal, but hey, cash is green what ever the flavor. Also, was contacted by an out of town seller I made a short offer to last December '05 and the seller is now ready to go. So far this year I've been continuing to average 1 deal per month. I also have a t/b currently in a property who is ready to purchase. If I can get this buttoned up $11K back end profit. Saaaluute! Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted September 17, 2006 Cool stuff Steve! Just so everyone knows what the heck I've been up to, here it is. 1. Fenton CA $5K profit looking to close this week. May have to wait for the other $2K2. Burton CA $3K profit, looking to close this week.3. Burton CA $3K profit still looking for a damn buyer!4. Grand Blanc, Flip to investor. Looking to make $8K this week. (Additional from selling it for the partners)5. Swartz Creek, Flit to Investor. Looking to make $10K but still need to close. (Additional from selling it for the partners)6. Flint, CA $3K, still looking for buyer.7. Davison, CA $5K waiting for buyer to give us the go ahead. If so, will close this week.8. Buyers for note/locator program. 3 this week. ($ potential unknown)9. Sold two properties this week on a LO. $5K down each. $35K profit potential on one, $55K profit on the other. These are BS numbers because of holding costs etc. I have already made $50K and spent most of it on holding costs, but would be happy breaking even on these bastards.10. I know I'm forgetting something.....crap, someone's probably bitching right now because I didn't call them back today...NOT YOU Pete! (Puls1234) I left you a message! Tomorrow I am doing my "put the suit on and pull deals out of thin air" day. I get all chummed up, have a great breakfast and grab a Sunday paper. I call EVERY FSBO in there and tell them the wait is over. Regards,Adam Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 17, 2006 I just received the signed SLO documents and keys from the seller of a townhouse today. Marketing starts tomorrow!Closed this one with a t/b with $3K down and $100 positive monthly cash flow. I won't retire on this deal, but hey, cash is green what ever the flavor. Also, was contacted by an out of town seller I made a short offer to last December '05 and the seller is now ready to go. So far this year I've been continuing to average 1 deal per month. I also have a t/b currently in a property who is ready to purchase. If I can get this buttoned up $11K back end profit. Saaaluute!Way to go, Steve! You've been doing well with those sandwich leases, I see. The above deal sounds like a classic: $3K down, $100/mo, and who knows what awaits you on the backend. These "little" deals add up. And then along comes a t/b who wants to buy, and you have a closing and a $10K-$15K check awaiting. . . .Tomorrow I am doing my "put the suit on and pull deals out of thin air" day. I get all chummed up, have a great breakfast and grab a Sunday paper. I call EVERY FSBO in there and tell them the wait is over. Regards,Adam You put on a suit to make calls?? Interesting, because I do just the opposite and strip down to my Calvin's. Which reminds me, when are video phones going to be commonplace? Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted September 17, 2006 You put on a suit to make calls?? Interesting, because I do just the opposite and strip down to my Calvin's. Which reminds me, when are video phones going to be commonplace? I think I'm about to lose my breakfast... Share this post Link to post Share on other sites
Craig 0 Report post Posted September 17, 2006 You put on a suit to make calls?? Interesting, because I do just the opposite and strip down to my Calvin's. Which reminds me, when are video phones going to be commonplace? I think I'm about to lose my breakfast... I strip down to my Calvins when I am having breakfast. Share this post Link to post Share on other sites
Rich08 0 Report post Posted September 17, 2006 Tomorrow I am doing my "put the suit on and pull deals out of thin air" day. I get all chummed up, have a great breakfast and grab a Sunday paper. I call EVERY FSBO in there and tell them the wait is over. Regards,Adam Funny thing is I just got done reading a bunch of posts on another very large real estate investing forum all saying how calling fsbo's is a complete waste of time. I guess nobody told you that you are just wasting your time. lol. Share this post Link to post Share on other sites
