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Author Topic: I love this business  (Read 6049 times)

Offline motivatedceo

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I love this business
« on: November 01, 2011, 01:20:15 pm »
The longer I am in real estate, the more I love it.

Just last week I closed on another rental property - a single family home (a 2/2).

I will receive my total investment back in gross rent (not factoring in expenses) in just 21 rent checks. So I will have a complete return on my investment in far less than 36 months.

And I got my first rent check for that property today.

Wow, is all I can say to that.

At this rate, I will have more rental income than I know what to do with in a few years!

Offline allagash

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Re: I love this business
« Reply #1 on: November 01, 2011, 06:01:30 pm »
 :dance2

-Mike

Offline NJbird_dog

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Re: I love this business
« Reply #2 on: November 10, 2011, 08:48:54 am »
At this rate, I will have more rental income than I know what to do with in a few years!

 :cool

which state are you investing in?
« Last Edit: November 10, 2011, 08:54:22 am by NJbird_dog »

Offline Mdhaas

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Re: I love this business
« Reply #3 on: November 10, 2011, 08:51:21 am »
CONGRATS!!   :beer
If at first you don't succeed.....................skydiving is not for you

Offline motivatedceo

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Re: I love this business
« Reply #4 on: November 10, 2011, 10:00:40 am »
Thanks. And I have a verbal offer, as of this morning, on a whole other place that will net me ~50% in interest (APY)...after all expenses. These deals keep getting better & better. GET THIS - I WILL PAY $10K CASH AND IT WILL RENT FOR $650 PER MONTH --- A SINGLE FAMILY HOME, REMODELED JUST 4 YEARS AGO WITH A NEW ROOF AND NEW SIDING. This is from an out of state owner who has not been to the place in several years, literally, but amazingly even though it's in a lower income neighborhood the house is in great condition --- all I will need to do is replace the stolen A/C unit and put a cage around it. This will be another super, super good deal. I should have a signed contract back tomorrow. I have been picking up so many properties lately - its nuts.

THAT WILL MAKE 3 DEALS THIS MONTH ALONE - ALL 100% DEBT FREE

Have a great day guys,
MotivatedCEO

Offline justin0419

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Re: I love this business
« Reply #5 on: November 10, 2011, 05:52:40 pm »
Nice work!  I'm checking out a dozen properties tomorrow from someone selling everything off.  All are rented but one.  With his asking price, the properties are all over 2% rent vs purchase price.  I'll be asking for owner financing if we're interested in more than a few.  I couldn't believe how reasonable the guy was with his asking prices.
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Offline andydallas

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Re: I love this business
« Reply #6 on: November 22, 2011, 06:00:35 am »
It seems like i went through a period for a few months with not that many great deals, a few, but not many,,,but for some reason right now i'm finding some "steal deals" again,,while the market seems to be stabilizing.

I'm not sure if the banks are just trying to move houses faster or what, now sure whats going on but I hope it stays this way another year

Offline motivatedceo

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Re: I love this business
« Reply #7 on: November 22, 2011, 09:54:05 am »
I agree those "steal deals" are very common! My deals keep getting better, but I think it may also be that I have gotten better at finding deals and also at negotiating too. The exciting thing is - many of us will walk away from this economic downturn with untold millions in new equity, and tons of cashflow.


It seems like i went through a period for a few months with not that many great deals, a few, but not many,,,but for some reason right now i'm finding some "steal deals" again,,while the market seems to be stabilizing.

I'm not sure if the banks are just trying to move houses faster or what, now sure whats going on but I hope it stays this way another year
« Last Edit: November 23, 2011, 05:15:39 pm by motivatedceo »

Offline Estrogen Hostage

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Re: I love this business
« Reply #8 on: November 22, 2011, 10:37:04 am »
he exciting thing is - many of us will walk away from this economic downturn with untold millions in new equity, and tons of cashflow.

I only wish I had started earlier. I am still too scared to buy too fast. I bought two this year, two last.

Offline andydallas

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Re: I love this business
« Reply #9 on: November 23, 2011, 06:47:32 pm »
motivated ceo, lets try to have lunch before the christmas holidays,,my life has been crazy busy, but lets just make time

andy

 




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