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November 26, 2021, 05:21:36 pm
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Author Topic: DEAL?  (Read 16470 times)

Offline younginvestor

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DEAL?
« on: August 26, 2006, 12:47:31 pm »
Investor Price: 38,000
work needed 7k
Comps: $83-91k Range
2 bd. 1 ba. 1 each side car garage
duplex with water garden
cash flow, huge equity,
and tax benefits.
River Rouge, MI 48601

Offline jcmay

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Re:DEAL?
« Reply #1 on: August 28, 2006, 06:00:07 pm »
Are you asking if anyone wants to take this deal??

Offline younginvestor

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Re:DEAL?
« Reply #2 on: August 28, 2006, 06:18:12 pm »
yes

Offline blueboxer

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Re:DEAL?
« Reply #3 on: August 28, 2006, 08:09:41 pm »
I would

Offline jcmay

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Re:DEAL?
« Reply #4 on: August 29, 2006, 01:20:13 am »
You are virtually getting this at 35-40% below market.  Just out of curiosity, why are you wholesaling this instead of taking the deal yourself?

What is the condition of the property and what is the story behind the sale?  (Why is the owner selling it at such a discount?)  How soon does this deal have to close before it's too late (is it about to go into foreclosure or something?)

Sounds like you found something worth looking at.

Offline younginvestor

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Re:DEAL?
« Reply #5 on: August 29, 2006, 09:16:40 am »
Deals sold now, I did not take it myself because I got the lead from someone else, and I am a rookie, have not closed any deals yet, plus I dont have enough cash for the rest of the money, if the lender loans me 85% ltv, I cant come up with the other 15%. Let alone the renovation costs. The home was a pre-foreclosure, I appreciate you guys inquiring about it. Sorry guys.  :neutral:

Offline jcmay

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Re:DEAL?
« Reply #6 on: August 29, 2006, 09:21:49 am »
I'm not surprised the deal sold this quickly - it sounded like a money making transaction.  Hope you find lots more like this and make tons of money.

Offline younginvestor

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Re:DEAL?
« Reply #7 on: August 29, 2006, 10:30:15 am »
If I can,are there any investors here, that are willing to purchase homes like these, in and around Michigan. I am in Toronto, but I have someone who is looking for deals for me (bird dog), whenever a deal is found, I go down and take a look personally, and review the numbers myself.
Like I said, when I do get more deals like this, (for now) I cant afford to close on them, since I dont have the remaining % (remainder from ltv) in cash. So I'll work out assignments to build up some equity. Thanks.

Offline jjjapd

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Re:DEAL?
« Reply #8 on: August 29, 2006, 11:39:48 am »
I'm located just north of Detroit.....
Would like to discuss and perhaps move forwrd....

email me if you haven't moved forward yet: [email protected]



Investor Price: 38,000
work needed 7k
Comps: $83-91k Range
2 bd. 1 ba. 1 each side car garage
duplex with water garden
cash flow, huge equity,
and tax benefits.
River Rouge, MI 48601

Offline Treens

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    • My Quick Real Estate Solution
Re:DEAL?
« Reply #9 on: August 29, 2006, 01:14:19 pm »
YoungInvestor,

If you are really interested in rehabbing homes and selling them retail, you can try hard money lenders.  There are a list of them on this site.  They don't care so much about you and your credit, they just want to know that they house will sell and make a profit that they will share in.

Personally I wouldn't want to have the headache of rehabbing but that is where the big money is.  

I hope you get the next one under contract!

Offline younginvestor

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Re:DEAL?
« Reply #10 on: August 29, 2006, 01:36:05 pm »
I have asked around about hard money lenders, (one reason why I want to do business in the states is beacuase they are more readily available than Canada, where there's only private lenderes) however even with hard money lenders, I have been told that they will lend up to 85% maybe 90% of the arv, so I have to come up with the remaining, plus I also have to come up with the rehab costs.

Offline Tony Chicago

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Re:DEAL?
« Reply #11 on: August 29, 2006, 07:51:09 pm »
Oh the possibilities with this deal!!

Offline gordo2417

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Re:DEAL?
« Reply #12 on: August 29, 2006, 08:02:27 pm »
I've seen that deal all over the Net.  Some guy named "cashman" sent me junk mail on it.  I didn't even know that I subscribed to his site.  Actually I'm pretty sure I didn't but anyways he's sending leads all over the place.

Nate-WI
Nate Andree
NJA Investments LLC
njainvestments.com
920-428-9858
[email protected]

Offline vdini

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Re:DEAL?
« Reply #13 on: August 29, 2006, 09:13:27 pm »
LOL - yeah the cashman - I got those emails coming in too - although I think I did sign up for something but I don't remember.

Offline younginvestor

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Re:DEAL?
« Reply #14 on: August 29, 2006, 09:30:10 pm »
Weird, I thought I signed up for something too, but also cant remember.... I think were under a trance.....  :rotate:

 




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