Episode 10: Deals I'm Doing Now!

Episode 10: Deals I'm Doing Now!

Deals This Month

John is updating you about specific deals he has going on the last few days. Contact him at [email protected].

The first deal: a 4-unit apartment complex on Main Street, fully occupied. It was for sale by owner, and the owner agreed to finance the property. Total rent: $2800 per month, taxes: $1800 per year, insurance: $127 per month. Purchase price: $240,000. The seller was willing to carry the financing with $20,000 down payment. He solved the owner's problem: taking over property management, tax and insurance responsibility, deed was changed, and he got $20,000 cash.

Deal #2: Single-family, 3-bedroom 1-bath house. The owner was about to lose the house to a tax sale. They bought it for $27,000. A wholesaler got $750 from this deal. They repaired the house in 3 weeks, all-in-costs are $39,000. After repair value: $72,000.

Deal #3: Burn-out house. The insurance company contacted him. They bought for $10,000. Wrapping up renovations this week. New AC unit, new interior, they repaired a leak, electrical, painted, new windows. $42,000 cost. All-in: $52,000. ARV: $77,000.

The last two houses mentioned should rent for $750 and $850 per month.

Deal #4: 3-bedroom, 1-bath house, 20 miles outside of market, found by Facebook post. Bought for $27,000 and put in $6,000 of work. Cleaning and repairing the house. It should rent for $650 per month. It has space out front for a mobile home, with plumbing and electrical already done. Eventually, they will get more income from that property.

John is not a super flashy real estate investor. He buys properties in Mississippi for rental cashflow but doesn't expect a lot of appreciation.

Triplex: $30,000 purchase price from a wholesaler, paid $5,000. A private lender is financing the deal, receiving a $5,000 flat fee. John is building a long-term relationship with him. Eventually income: $600 per unit, or $1,800 total per month. Renovation costs: $60,000. They will be $90,000 invested but have new guts, floors, HVAC system, outside paint, and new roof. They own other properties in that area, so it's convenient.

He has two single-family houses purchasing at the end of the month. Both are foreclosures, backed by a bank from someone who became sick and was unable to maintain them. He tried to sell a few months ago.

House #1: purchase price $42,000, needs $10,000 in repairs, and should rent for $1,000 monthly.

House #2: two rentable building on it. Eventually income: $1,200 per month. $65,000 will be sunk into that project all-in.

Right now, John is focused on acquisitions and is working on shifting his property management to a team he's building. If you have questions or advice about that, email [email protected]. John is currently working with small community banks in the area to acquire properties and renting them out.

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