Millionaire in the Making – Rob Edgar

Christine,

I would thank you and your team at Eagle VA for your support. I have attached our first contract as a direct result of Eagle VA services. I would also like to think that indirectly you have helped us secure 3 other properties during the month of December. One which has already closed and the other 2 will close in the upcoming weeks. You have been an instrumental part of our team by allowing us to work on our business instead of in our business.

The break down of each of the deals are as follows. 1) Owner financing at 0% interest with a 5 year balloon. The property has a tenant in place that will cover the payment to the seller. The property does not cash flow but we gain $1100 a month in equity. Which in turn turns into 75,000 in equity over the 5 years. At the end of the term we will refinance and cash flow have a positive cash flow of $500 per month. 2) Purchased a FSBO for $75,700 that has an appraised ARV of $218,000. We used hard money for this transaction and are in the process of rolling this property into a 30 year 6.5% APR fixed rate loan. We already have a tenant in place that is in our work for equity program. They are fixing the place up for us while we are collecting $1250 a month from them. The icing on the cake in this deal was there is also a cell phone tower on the property of which we will be collecting an additional $1500 a month from as a lease. Total monthly positive cash flow on this one property is $1950.00 for a 31% ROI. 3)A 3/1 that we purchased from a wholesaler for $36,000 with an ARV of $77,000. Minimum rehab needed (aprox. $3500). Projected rents $800 for a 24% ROI. 4) A 3/2 that we purchased from a wholesaler for $78,000 with an ARV of $140,000. Minimum Rehab needed to rent (Aprox. $4,000). Projected rents $1350.00 for a 20% ROI.

Needless to say this has been a very successful month. The cash flow from these 4 deals will be a spring board to our success. Thanks again for your attention to detail and continued support.

Rob Edgar