Real Estate Investing Show for Professional Investors
Anatomy of a $70K Real Estate Deal
Jan 29 2019
[Podcast #94] Today, Jay Conner talks about his latest real estate deal ($70+K Profit) on Quailwood Court in North Carolina.
Discover how he found the house along with seven important lessons he observed as he went thru the process of acquiring and closing this deal.
Lesson One: Get your realtor is send you automatically all the new bank owned properties and any houses with price reductions.
Lesson Two: Have your realtor watch the "Hot Sheet". They receive any price reductions on MLS. This is a back up to lesson one.
Lesson Three: Time is of the essence. If you snooze, you lose. Once you determined that the property meets your requirements, you get out to look at the house and estimate repairs. Hot deals will get multiple offers fast.
Lesson Four: Accurately estimate repairs, so there are no surprises. Able to make an offer on the spot
Lesson Five: You must have your funding lined up before you make the offer. Jay offered to close all cash within 7 days of acceptance.
Lesson Six: Second chances ARV - $290K Repairs: $20K
Owners asked for highest and best offer
Another offer was accepted.
Realtor continued to monitor the house.
A week later the house came back on the market.
Offered $190K again. No Contingencies. Accepted in 2 hours.
Profits: Over $70K
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Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.
What is Real Estate Investing? Live Cashflow Conference
The Conner Marketing Group Inc.
P.O. Box 1276, Morehead City, NC USA 28557
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