I am planning on selling my personal residence and one rental property. I have about $600,000 equity in both of them. If I use $100,000 for a down payment to buy another house to live in and $100,000 to sustain me for a year. ??? I will have $400,000 left to invest. Is it realistic for me to expect to make at least $250,000 per year in rehabbing properties and selling them for a profit?
Only if you really know what you are doing.
Da Wiz
I am moving to Denver. I plan to join the local real estate investment club to network with other investors and invest full time. Can this business be learned in one year if you do it full time? Are there full time investors that net over $250,000 per year? If so, how do you do it? Do you need over $400,000 cash to pull this off? ;D
Denver huh? I just moved out of there! There are deals here everywhere to be had. YES you can make that kind of money and YES I know because I have done it.
Thank you for such a positive response. Its nice to know that there are investors making that kind of money or better.
I have heard a lot about HomeVestors in Denver. What do you think about them? Have you ever considered hiring an advertising company to increase your business?
Are there any tips that you can give me regarding making money in Denver rehabs? 8)
I have heard a lot about HomeVestors in Denver. What do you think about them?
They are the same company as We buy UGLY houses. They pass off the deals they won’t do. Great company and great plan. There are better deals out there without them.
Have you ever considered hiring an advertising company to increase your business?
I thought about shooting my phone to slow down my business. I am not going to B.S. you I just moved to a small mountain town to semi-retire and enjoy life I really do not want more business. I still am doing about 4-6 deals a month. That is down from 30-40.
Are there any tips that you can give me regarding making money in Denver rehabs?
From Alameda to 48th and from University to Sherdian. If you are looking to buy and flip this is going to be the next Wash park area. They are currently putting in a light rail system and any house around there will be prime for a high appreation.
Hope that helps.
I also sent you a private message.
How did you do it? How do get your phone to ring so much that you want to shoot it?
I thought about hiring an advertising company but I wonder if it is really necessary.
I can place an ad in the classified every day:
“Quick Cash For Your House”.
I can send postcards to “absentee owners” and “notice of defaults”.
I can drive around looking for rundown properties.
I can call all the homes for rent in the classified section and ask the owners if they are tired of dealing with tenants.
But what am I missing? What else would you suggest?
order reoconsultants e-book. It talks about how he got started and what he did to get where he is now. Its only 43 pages but it better then spending 1000 for the same material
I have a question for you reoconsultants, do you only invest in your state only? Wow 30-40 deals a month. Where these rehabs, wholesaling or what.
Keep the best and wholesale the rest. MARKET MARKET MARKET!
I still have Some in Alabama, Vegas, Phoenix, Washigton, Portland and of course Denver.
I only hold 14 at this time.
and over 40 notes.
And thank you…
If you keep the best and wholesale the rest, what would be an example of the ones you would keep and the ones that you would wholesale?
your question is kind of rhetorical…the real question is do you have skil set and experience to make that kind of money. Do you have know how to manage in a multi-projects environment, manage contractors, etc, etc, etc Plus, you state you are entering a new market so you are going to have a learning curve on understanding the market.
you will be to build up quite an operation to be able to have that kind of net profit per year. guys that I know that have built up that level of operations end up owning what amounts to a general contracting business
also, its somewhat a function of what the general market is doing in the particular area. I’ve made plenty of money on rehabs over the past years, but a good portion of the gain as just due to market appreciation (not the rehab itself).
O.K. Thats all well and good.
How much money can you make in your market in rehabs and where is your market?