Dear Chuck (Eagle VA),
Just wanted to thank you for your part in our latest deal. This is a lead you sent to us during the Quick Start in Chicago. Todd called the seller while we were in class and made an appointment for us on Monday where we went and got the Purchase and Sale Agreement signed.
The house is 3 bedrooms, 2 and a half baths, 2300 square feet. We are buying it for the existing loan balance which we estimate at about $111,000, wrapping the existing loan with a new note and mortgage matching the terms of the underlying loan. First payment due in January. ARV is $125,000, monthly payment is about $900. House is in good condition, new roof, siding and garage door due to a tornado in 2013.
We plan to sell for $134,900. Rents in that neighborhood are going for $1200 to $1400 a month. We’d like to get $10,000 down, but it may be a little tough in that neighborhood, but we won’t take less than $7500.
So let’s say $7500 up front, about $17,000 on the back end and around $400 a month cash flow. Not a home run, but a nice double for letting you guys do most of the work.
My VA rocks!!!
Thanks so much for all your good work.
Carla
Sweet! Tx for sharing your success. Inspiring!
Hello Carla,
Congratulations and good job on the deal! I am proud of you and your efforts. Glad to read that you made some good money and are becoming a successful real estate investor. I am new to Planet Ron, and am working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Reply
That is awesome for house you did not even have to find! the VAs are great! Congratulations on your deal!
Hello again Carla,
Congratulations and good job on the real estate deal! I am proud of you and your efforts. Glad to read that you made some good investing decisions and are becoming a successful real estate investor. I am new to Planet Ron, and am still working on my first deal. One day I too will be able to post a success story like yours. Take care, keep up the good work, and keep on investing.
Bye for now,
Robert
Oh by the way Carla,
How many other deals have you done since this one? It would be interesting to find out what other deals you have so we can all learn from you experience and perhaps use that knowledge to help ourselves make us successful. Thank you and take care.
Hello Carla,
I am working on a deal right now and hope you are reading this comment so as to replying and giving me some words of encouragement, advice, and support. I sure could use it so that I too can be a successful investor! Maybe I’ll hear from you soon? Take care.