REO's - the Way to Go!

I just wanted to give you an update on our progress in real estate investing through the Armando Flip and Grow Rich Training Program. You can check our file and probably find us to be the worst of your students when it comes to sending in our homework. However, you won't be disappointed in us when I tell you that we have been very, very attentive and just kept taking action, action and more action.

We have an accepted offer on an REO and are currently set to appraise the property. We have the budget for repairs and other expenses in place and expect to yield between $20,000 & $30,000 in profit. All the subcontractors are in place we have a very, industrious real estate agent and we have contracted with "The Ark" for our financial planning. We, literally, physically looked at 120 properties, most of which we rejected after the initial view of the property, and made two offers when this one was accepted. We are ready to begin work as soon as the contract is signed. We purchased the 1,588 sq. ft. property across from a golf course for $60,000. We will need to put $25,000 into it for repairs, and hope to sell for $120,000.

We continue to look for the next project so we are well on our way. This has been great, and we are actually passionate about the whole process. It makes us feel like we are helping to breathe new life into our economy, too. We have taken to heart your advice on "no fear" and taking action NOW. There is no stopping us, and the big picture has come clearly into focus. It was like being handed the key but having to use our own brains and guts to get this done. It's fabulous!!! We totally understand there is still much to learn so we'll be out here hanging on every word. Thank you so much!!

Gail & Phillip in AZ