From Zero To One Million Dollars A Year In Sales

Yeah, looks like I was to slow on that 9plex for $505,000.00 that would have been a great deal.  Someone made an offer on it and I’m a little late to the party.  Well thats great, I’ll use the same techniques, to find another one, and this time I’ll beat them to the deal.

Well, I do have a backup property.  There is a small one in Corvallis, one block away from I live.  Not nearly as exciting, it brings in $17,500/yr GROSS compared to $50,000… its $236,000 compared to $505,000.  Intersting though isn’t it, the one for half a million, is double the price, but brings in 4 times the cashflow…. What a deal that was!

Here is the property.  Anyways, tommorow we are throwing out an offer for $210,000.  Hopefully that will go through, I have a prequalification letter going out with this one.  If you want your offer to look more appealing, and stronger, more serious, make sure to include a  document showing that you have been prequalified for the loan amount, to buy that certain property.   That is what might have killed my 3plex deal, no prequalification letter.

And today we had an awesome gathering at the real estate club, we watch the Secret, one of the best personal development movies I have ever seen.  http://www.thesecret.tv

This entry was posted on Wednesday, February 14th, 2007 at 10:05 pm and is filed under Challenges, Real Estate Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.