My bird dog Frank has sent me a lot of addresses but I cudnt make any deals happen with any, and he was getting frustrated despite my attempt to keep him motivated.
He had a job so I suggested he spend a few buks on bandit signs. He did, I think he purchased 50.
He decided to put them up in the nearby cow towns, rural areas.
One small town called him and he had to go take some down. After a few months he got a few calls and it was slow going, finally after 3 or 4 months we get the money call.
A lady with a 3/2 on 1 acre, it even has a mobile on it that’s rented for $850 but tenants are moving out.
This lady’s house had been trashed, tenants had been ther for 5 years and had animals and teenage kids.
She wanted 90K The property value might be 150 or even more with the income producing mobile on it which has a separate address and water and electric meters.
I offered 60K and we settled on 65. I had it sold in 2 hrs with the other investors giving me the riot act because they didn’t jump on it fast enuf.
I can really see how I need to get lined up with private lenders. The mobile home rents alone would more than finance the purchase and rehab of the property. Once rehabbed this nice home on an acre will easily rent for $1200 That’s free and clear cash flow each month for the rest of my frikin life and my children’s, minus taxes, repairs vacancy etc. of course.
I think this wud be a very safe investment for me and a lender and of course very profitable for both.
I’ve already made some serious frikin profit this year and wholesaling is fun and fast money.
But, wouldn’t it be smart to hold onto these insane deals I come across rather than flip for some quick pocket change?
I think I’m evolving.
Let’s make that money…