Ears is too busy trying to figure out the business dynamics of owning a hostel at this moment.Meanwhile I just signed up a deal from my direct mail that should net $30K. One of those tiny $200/month sub2 deals I was criticized for. Except this time I'm taking sub2 @$75K and retailing out for $135K. $3500 to seller and $6-7K in repairs. Am able to afford the cash to seller and repairs from down payments from previous deals.
Have you sent out any mail? Is so, what were the results?
Like I've said before I usually double or triple my profits after expenses on these direct mail campaigns.But this latest mailing is off the charts. Out of 2,500 post cards sent out I got very few calls. But the calls were of a higher caliber.The first deal I made $5,000, the second deal was the 18 grand from the double wide mobile home, and now I got a duplex and a house, 3 units on a single lot, the seller wanted 127,500. I sent it out and I got a buyer that wants it for 137,500Now most normal persons wud have been happy with a 10 Grand assignment. But no, not me.Because my testies have swelled, I called up the seller and told him the properties need too much work and its too risky for my partners and I. Unless he can do 120K, Our earlier conversation he said he cud def not go below 127,500. After a little back and forth, We settled on 122KHoly piles of guano, instead of 10K I just got my buyer to sign my assignment of contract for $15,500 Frikin dollars.I sometimes surprise myself, am I getting more experienced, more greedy, more smarter, better at negotiating, more obnoxious, going insane or all of the above?Let's make some Money....Rando