One man's trash is my $10k treasure

[Luther M.]

Hey BP family!

I am so excited to announce my first real estate success!

Deal Type - Wholesale

Direct mail Post Cards to a list of absentee owners from ListSource.com

A to B = $2,500

B to C = $12,000

Not a bad spread for my first deal aye? Great way to start the month of June.

Special thank you to my mentor who guided my through this.

[Luther M.]

Hi @Joshua Dorkin

First off, tip of the hat to Brandon and yourself for all that you guys do.

Further details about the deal:

• The property has a tax lien against it and was to be sold on the County court house steps today(06/03/2014). This was why the seller was so motivated to sell.
• The property itself will need $15k-$20k of renovation before it is inhabitable.
• Although the ARV was ~$120k and we could have marketed the property for as high as $40k - $50k ((ARV X 0.65)-repairs) , we didn't have the luxury of waiting around for the right buyer and decided to go with a lower price, especially given that we were able to get it under contract for $2,500
• From initial contract to closing at the attorney, 7 days total.

Thanks @Sarah S. & @Aaron Mazzrillo