Real Estate Investing Short Sale Investing Subject To Investing Wholesaling

So, is it a deal or not? What would YOU do?

So is it a deal or not? What would you do? Ok so I know what I am going to do with this property….remember the one that my past seller whom I did a sub2 deal with called me about recently?

I went to see his property last Saturday (I think that’s when it was.) Anyway, I know what I’m going to do with the deal for the most part so I wanted to throw the details out there and see if you all think it’s a deal or not and ask you what would YOU do? Or what options can you think of?

It’s a twin. 2 to 3 bedroom / 1 bath.
Owes about $58,500.
Mortgage payment $556 / mo.

Comps come in around roughly $55,000
Rents in the area are about $525 to $550.

Now the ex-boyfriends mom who lives in the house claims she will pay $700 / mo. plus all utilities except gas if she can stay and let her daughter and son-in-law move-in with her (she has been paying $300 / mo.)

In this scenario, remember that the seller will just flat out sign over the house to you and you also have your real estate license. Soooo, is it a deal or not? And what would YOU do?

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Atm Deals Random Ramblings Real Estate Investing Subject To Investing Wholesaling

Glad to be alive, 30 Day Challenge, Past Sub2 Client…

Well I want to start off by saying that I am super glad to be alive! Yesterday, I witnessed an accident on my way home from work and the car that got hit was headed right for me! I was stopped at a red light at an intersection and I was in the left turning lane to go onto the main road.

Apparently, there was a yellow light on that main road and a car making a left turn onto my road decided to go through the yellow right and a car going the opposite way decided to go through the yellow light as well and smashed right into the turning car!

The car literally was spinning right towards my car and I couldn’t go anywhere, because there was a pickup truck next to me on the right and to my left and front was this car spinning at me. I literally braced myself to be hit by a friggin car! Just as it went to hit me the car kinda turned and crashed into the sidewalk! Whew! I was a mess for real! I called 911 for them but from bracing myself my back hurt for the rest of the night.

Soooo just want to say that I’m glad to be alive and I’m glad that all of you are able to read my words right now and that I’m able to read yours! 🙂

Now you remember Steph’s 30 Day Challenge from Flip This Wholesaler? Well I wanted to start working out again and get into the shape I was use to prior to getting my wisdom teeth out in January. I committed to working out at least 3 to 5 times a week.

Last week I worked out 4 times and I lost 4 lbs so far 🙂 Plus, me and Kathy and a few poker buddies put together a “weight loss” challenge because I kept posting about working out and they decided they wanted in. Of course, us being poker players and all, we put 50 bucks on the line lol At least 5 out of 8 of us are poker players! Ours is a 2 month challenge though….whoever loses the highest percentage of their original weight wins 50 bucks from each player.

Speaking of poker, we had our Homegame yearly championship on Saturday and I finished in 4th place and made some moolah (3x my buy-in.) And Kathy finished in 6th place and cashed (btw, when I met her she sucked at poker, but I taught her how to play better!)

Now today a past client that I did a sub2 deal called me. I don’t know if ya’ll remember telling you about a guy long ago that called me and I had a weird feeling about so I asked my dad to go with me and when we got there the house was immaculate and there were candles lit all over? And it turns out the guy was a gay guy and just really liked candles, etc. lol

Anyway, he called me today and asked if I still buy houses or take over payments like I did with his other house before? So I called him and told him I sure do and he asked if I would do that with his current house because his boyfriend just left him yesterday and left him with all of the bills (house, 2 cars, boat, etc. etc.) Oh and get this….the boyfriend left his mother there too! How’s that for some shit? lol

So I’m gonna see if I can help him out…gotta run some comps on his house. When I check things out I’ll have a better idea of if I’m going to wholesale it with an option contract or take it over sub2. And I gotta run comps on someone else’s house too…they want out as they are moving to Texas tomorrow!

Oh and lastly, we will be installing our 2 new atm’s on Friday into the cash only ice cream shops! I’ll keep you updated on how things go there, of course.

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