I found an REO property through a real estate agent that was vacant for two years. I utilized my own cash to purchase the property for $17K. I have put $7K into it repairs and fix-up, and it’s been on the market for $55,900 since the end of January. I am expecting a profit around $30K soon; however, if it doesn’t sell in the next few months, I will consider a rent-to-own contract for 18 months, that will increase the $30K expected profit..
I was so excited about the finished rehab, that I took pictures and put together a power point presentation to show my family and friends. A few of my family members are now investing their money with me to partner on other deals. I just purchased a second property for $14K with funds from a family member. We expect it will take $13K to rehab, and since it’s in a better area, we are hoping to sell it for $80K, which would give me a profit of around $50K!
I had been reading books on investing for a few years, but I just didn’t have the courage to take action. So, I’m glad I bought and read Armando’s book which lead me to enroll in the Armando Flip and Grow Rich Program. Being in the program removed that fear factor that was holding me back, and gave me the courage to go out and do it. I took a leap of faith and got it done! The worse scenario is that I now own a house free and clear in mint condition. I learned a lot of information through the course work, and it was especially helpful to get feedback from Kristiin Sabey when I would call into the Resource Line. I would absolutely recommend other people to enroll in the program. I am a teacher by profession, and am seriously considering teaching this concept to the young adults in my area to help improve their futures!
-Jason in Ohio
No comments:
Post a Comment