A few successes.....

[Steve Londeau]

Here's a few successes we've had over the last few weeks/months....

We successfully negotiated the acquisition of 6 multi family rentals, using $0 of our money, putting $0 down, and only needing money, which is being borrowed from a private lender, for closing costs, and we'll actually walk out of closing with $7-10K in our pockets. (Its being left in the bank for incidentals). These will generate a couple thousand in cash flow, but there are only 10 years remaining on the notes, so in 10 years we'll own them all free & clear, and then the cash flow will be GREAT.

I should be getting my approval on a short sale anytime now. I got word from the Loss Mitigation rep @ the Mortgage Insurance company that I would get it today. My contact at the Foreclosing lender asked ME to try to contact them because he has been trying for 2 weeks to reach her. (Holidays and all I'm sure) I made 2 phone calls, and had verbal approval and was told she would send it over today. This is going to be my personal home. We're gonig to make $3800 when we buy, and I'm buying with approximately $45K in TRUE equity.

Working on a bulk REO deal that we offered on 40 houses. We will find out today, where we stand, but the success in this is that we succeeded in getting over 8M in proof of funds to put this deal together. We were hoping to just even raise 1.5M. We're just a couple of guys from Michigan who bust their asses day in and day out, and it truly has paid off.
:mrgreen:

Those are my successes since about Thanksgiving. 2009 is going to ROCK!!!