Millionaire in the Making – Cindy Young

We are in the middle of 12 and very likely 13 deals. Of the 12  there are 5 of them we’ve been negotiating with and they have finally agreed to our terms so we haven’t closed yet but very soon. One pair of houses, owned by an attorney, are in a nice part of the south end. Dave Squillante talked to him and he agreed to sell them sandwich LO (I asked your help about sub-to for them). They both have tenants, and cash flow will only be around $200 for each house but Dave was astounded that the guy would do this because the houses only have 4 years left on the loans. They are in beautiful condition too! Dave said the guy kept saying  he didn’t want to make anything off  of them and he just wants to get payments for the monthly amount until paid off then he’ll transfer title to us. Dave was completely blown away.

The boys are buying one house, also in a nice part of south end, for $2,500!!! It needs absolutely nothing. Not even paint and its all brick. They will take over the $2,300 tax bill but you can make payments on those. They elderly owner lives in Florida and she was thrilled to get the yellow letter. Also, she has another house just a few doors down that she said she’d also be interested in selling. Also in great condition. Here’s a picture:

Another of our big wins this week is $7,000 for a house in Sylvania on a double lot that’s been vacant for 4 yrs (owner moved to Florida). We also have to take over the $3,000 tax bill. It is on a street off of a nice neighborhood. but this street (Meade if you heard of it) is like being in Metropark and is surrounded by woods. It does need some work (roof is good), but should be a $65,000 lease option and we’d like to explore selling the extra lot. It has a septic tank which I am worried about. I’ve always avoided buying houses with septics. I can always sell it at this price if I have to.

One last bit of excitement is a house a short walk to University of Toledo. I think we’ll get this one for $12,000 and it needs about $5,000 worth of work. The tax value is $52,000. I have a buyer who is looking for student housing, who is looking at it tomorrow, and we’ll try to sell it for $20-22,000 for an $8,000 to $10,000 profit.

I believe almost everything we’re getting is from yellow letters. If people aren’t sending them, they’re nuts. And I hope our senior citizens keep moving down by you because they just want to give their houses away when they do! Ha!

Cindy Young

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