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From Mailbox To Contract: Direct Mail WORKS
Here's a quick glance into the conversations I had, and how I secured a great deal. After sending a mail campaign, I received a phone call from the owner of a property in my desired market. She lived roughly 10 hours away from this property, and received the property as an inheritance. She was given the property roughly three years prior, which had tenants inside at the time of transfer. Since she has taken ownership, the tenants have never paid her rent! Now, they are considered squatters, and the owner has no intention, energy, or head ace to deal with the house. I asked her, "In terms of numbers, what would give you peace of mind to have this burden off you." She stated that she would feel comfortable selling the property for 22,000. I didn't bother to counter, and we now have it under contract. In this deal, both parties are walking away smiling! Super neat experience.
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New comment 9h ago
From Mailbox To Contract: Direct Mail WORKS
My First Sale | Owned 2 Years | 36,295 Total Profit
First of all, I'd like to make clear that I'm a proponent of the buy & hold real estate tactic. However, I have recently decided to transition to a market that fits my long term objectives. The property I sold is in a college town. I turned it into a duplex, having a 3/1 upstairs and a studio downstairs. This allowed the unit to have substantially more cash flow. The numbers are below... Purchase Price: 107,000 Down Payment: 4,968.94 (Using Cross-Collateralization) Rehab & Holding Cost: 11,861.22 6 Months Before Renters took Place Monthly Rent: 1,610 2023 Cash Flow: 6,268 2024 Cash Flow: 6,808 2024 Sales Price: 147,000 (37% Increase in 2 years) (Due To Seller At Closing): 40,049 Total Cash Received: 53,125 Total Cash Invested: 16,830 I was able to produce a gain of roughly 36,295 over the span of 2 years, a 315% increase in the value of my original investment. I share this story as proof that REI still works TODAY!!! Go out, find great deals, write disrespectful offers, be creative and take risk. I believe it's more risky to sit on the sideline.
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My First Sale | Owned 2 Years | 36,295 Total Profit
My first Flip (On-Going)
I’m currently flipping my first property. I acquired this property from a friend of mine who was able to get a great deal. Although I have my work cut out for me, we are looking to put around 25k into the deal. Upgrades include roof, HVAC system, flooring, kitchen cabinets, electrical work, and fresh paint. Looking to do all the work myself and finish this deal in roughly 3 months. Message me if you’d like to know about the numbers of the deal!
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New comment 12d ago
My first Flip (On-Going)
My First Deal
Back in high school, I mowed lawns to earn extra cash. One of my regular customers owned a fourplex and a small 640 sq/ft office building. Fast forward to graduation, I sold my lawn care business, but kept in touch with that same customer. He mentioned he was moving to Florida after his son graduated, and a year later, I reached out—just in time before he listed his two properties. The office building rented for $450/month and the fourplex for $2,500/month. He offered me the office building for $45K and the fourplex for $190K. After some advice from my dad, I decided that the small office building would be the perfect way to step into real estate. I hopped on a call and negotiated the price down to $38,800. I secured a loan of $27,160 on a 4% ARM, amortized over 30 years. Now, three years later, that same building rents to a nail salon for $560/month. That first deal opened the door to so much more in real estate, and it all started with a lawnmower!
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New comment 25d ago
My First Deal
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