Hi Barbara,
We signed up for mentoring, and then attended Ron LeGrand’s Real Estate Summit in 2018. We have closed on 3 houses and have 5 under contract in three months.
The first house we bought after being in the program was 919 S. Center, a cute little Victorian shotgun house at an auction for $19,000. We will put $20,000 in repairs for rehab and then sell it for $91,000.
The second house we bought was on Washington St. We bought it on contract for $45,000 with $1,500 down. Our payment is $400. We sold it that afternoon for $60,000 to a couple who put down a $4,000 deposit. They love the house. It needed no repairs. Their payment is $575 so it cash flows $175 per month.
The house in the picture we bought it for $53,500 with $5,000 down and payments of $600 per month and we will need to put about $10,000 in it and about 3 weeks worth of work. We will be able to sell it for $89,500 with $8,900 down, so we will get $250 positive cash flow each month for 3 years which totals $9,000 plus $17,600 on the back end for a total profit of $26,600 for this house.
Thanks for the instruction and guidance,
J.R. and T.K. Wilson
InitialNetworks,LLC
Great job taking action! This works at every level of housing and you are proving it! Be blessed and I look forward to your updates!
Hello John, & Teresa, thanks for the informative success story and the posting. I’m glad to read about your deal, and congrats on the $26,000 profit and setting more goals. Never give up and keep on investing, moving forward and make us all proud of you. Take care.