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| What a Sunday. I woke one Sunday turned on the computer and a lady had just sent an email to me saying she wanted to sell her home. She said she would sell for $70,000 and she thought it was worth $90,000. She needed to sell fast because she had another contract on a house in North Carolina. I did a little research and thought it was worth around $135,000. I told my wife I had to go make some money, got in my car and drove the 70 miles from Orlando to Palm Coast. The same Palm Coast that is in the fastest growing county in the US. Flagler County Florida. I got to Palm Coast and talked to a few realtors who said the house was worth a minimum of 150k to 165K. It was a nice ride home. I emailed her later that day and said I would buy the home for her asking price and asked her when she wanted to close. I got a loan from my sister for $75,000 and one point at 12% interest. I walked away with $2,200 at closing with a no money down deal. I then advertised the house and sold it on a lease option for $146,000. I spent only $475 to have the home cleaned, the lawn mowed and the trash hauled off. Also $200 positive cash flow per month for 13 months. What a great job. Good luck and good investing. You can do this in any market. |
| thutch todd@ibuyhomes.com Florida Jul 25, 2005 |
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