Some call it being in the right place at the right time, others call it God's plan, some call it coincidence. And frankly I don't care what to call it, but I KNOW it sure feels good when it happens.
Nobody is more determined than I am to making this real estate investing adventure a success. I've had hard lessons learned, unexpected events, challenges, and even crimes committed around me as we explore our path to financial success in real estate. One thing is for sure, as Armando says about real estate transactions: "if it doesn't work for you, it won't work for me." And that is so true. There must be a win/win in every real estate deal.
This is why I feel so good about this last real estate transaction on a property in Bakersfield. I had just obtained the property and was absolutely delighted with the numbers. There was a lot of profit built into this deal, and the rehab cost minimal. SWEET! But for some reason, the voices in my head were of those other real estate investing students complaining because they couldn't get deals.
So I bounced the idea off to Eileen that we could resell this property to another Armando student, make a few thousand dollars fairly quickly (the rehab would take a few months), and move on to other properties. She was a little hesitant, but then gave in.
I advertised the Bakersfield property to my network and on this blog, and to my surprise, was immediately contacted by a woman that was on the same initial bus tour we were on in June of '09. They had been trying to get a rehab deal ever since that bus trip without success. She said I was a "Godsend", and that I've answered their prayers. Talk about filling my ego!
I'm happy to say the transaction closed and it was a true win/win real estate transaction. We made money, my real estate agent made money, my contractor will make money, and my buyer will make money, and her real estate agent will make money. OK, so that's a win/win/win/win/win. AND, the end buyer will still get a great deal!
Dang that feels good!
Thursday, November 18, 2010
Our Last Deal was Sent From Heaven
Some call it being in the right place at the right time, others call it God's plan, some call it coincidence. And frankly I don't care what to call it, but I KNOW it sure feels good when it happens.
Nobody is more determined than I am to making this real estate investing adventure a success. I've had hard lessons learned, unexpected events, challenges, and even crimes committed around me as we explore our path to financial success in real estate. One thing is for sure, as Armando says about real estate transactions: "if it doesn't work for you, it won't work for me." And that is so true. There must be a win/win in every real estate deal.
This is why I feel so good about this last real estate transaction on a property in Bakersfield. I had just obtained the property and was absolutely delighted with the numbers. There was a lot of profit built into this deal, and the rehab cost minimal. SWEET! But for some reason, the voices in my head were of those other real estate investing students complaining because they couldn't get deals.
So I bounced the idea off to Eileen that we could resell this property to another Armando student, make a few thousand dollars fairly quickly (the rehab would take a few months), and move on to other properties. She was a little hesitant, but then gave in.
I advertised the Bakersfield property to my network and on this blog, and to my surprise, was immediately contacted by a woman that was on the same initial bus tour we were on in June of '09. They had been trying to get a rehab deal ever since that bus trip without success. She said I was a "Godsend", and that I've answered their prayers. Talk about filling my ego!
I'm happy to say the transaction closed and it was a true win/win real estate transaction. We made money, my real estate agent made money, my contractor will make money, and my buyer will make money, and her real estate agent will make money. OK, so that's a win/win/win/win/win. AND, the end buyer will still get a great deal!
Dang that feels good!
Nobody is more determined than I am to making this real estate investing adventure a success. I've had hard lessons learned, unexpected events, challenges, and even crimes committed around me as we explore our path to financial success in real estate. One thing is for sure, as Armando says about real estate transactions: "if it doesn't work for you, it won't work for me." And that is so true. There must be a win/win in every real estate deal.
This is why I feel so good about this last real estate transaction on a property in Bakersfield. I had just obtained the property and was absolutely delighted with the numbers. There was a lot of profit built into this deal, and the rehab cost minimal. SWEET! But for some reason, the voices in my head were of those other real estate investing students complaining because they couldn't get deals.
So I bounced the idea off to Eileen that we could resell this property to another Armando student, make a few thousand dollars fairly quickly (the rehab would take a few months), and move on to other properties. She was a little hesitant, but then gave in.
I advertised the Bakersfield property to my network and on this blog, and to my surprise, was immediately contacted by a woman that was on the same initial bus tour we were on in June of '09. They had been trying to get a rehab deal ever since that bus trip without success. She said I was a "Godsend", and that I've answered their prayers. Talk about filling my ego!
I'm happy to say the transaction closed and it was a true win/win real estate transaction. We made money, my real estate agent made money, my contractor will make money, and my buyer will make money, and her real estate agent will make money. OK, so that's a win/win/win/win/win. AND, the end buyer will still get a great deal!
Dang that feels good!
Our Last Deal was Sent From Heaven
Some call it being in the right place at the right time, others call it God's plan, some call it coincidence. And frankly I don't care what to call it, but I KNOW it sure feels good when it happens.
Nobody is more determined than I am to making this real estate investing adventure a success. I've had hard lessons learned, unexpected events, challenges, and even crimes committed around me as we explore our path to financial success in real estate. One thing is for sure, as Armando says about real estate transactions: "if it doesn't work for you, it won't work for me." And that is so true. There must be a win/win in every real estate deal.
This is why I feel so good about this last real estate transaction on a property in Bakersfield. I had just obtained the property and was absolutely delighted with the numbers. There was a lot of profit built into this deal, and the rehab cost minimal. SWEET! But for some reason, the voices in my head were of those other real estate investing students complaining because they couldn't get deals.
So I bounced the idea off to Eileen that we could resell this property to another Armando student, make a few thousand dollars fairly quickly (the rehab would take a few months), and move on to other properties. She was a little hesitant, but then gave in.
I advertised the Bakersfield property to my network and on this blog, and to my surprise, was immediately contacted by a woman that was on the same initial bus tour we were on in June of '09. They had been trying to get a rehab deal ever since that bus trip without success. She said I was a "Godsend", and that I've answered their prayers. Talk about filling my ego!
I'm happy to say the transaction closed and it was a true win/win real estate transaction. We made money, my real estate agent made money, my contractor will make money, and my buyer will make money, and her real estate agent will make money. OK, so that's a win/win/win/win/win. AND, the end buyer will still get a great deal!
Dang that feels good!
Nobody is more determined than I am to making this real estate investing adventure a success. I've had hard lessons learned, unexpected events, challenges, and even crimes committed around me as we explore our path to financial success in real estate. One thing is for sure, as Armando says about real estate transactions: "if it doesn't work for you, it won't work for me." And that is so true. There must be a win/win in every real estate deal.
This is why I feel so good about this last real estate transaction on a property in Bakersfield. I had just obtained the property and was absolutely delighted with the numbers. There was a lot of profit built into this deal, and the rehab cost minimal. SWEET! But for some reason, the voices in my head were of those other real estate investing students complaining because they couldn't get deals.
So I bounced the idea off to Eileen that we could resell this property to another Armando student, make a few thousand dollars fairly quickly (the rehab would take a few months), and move on to other properties. She was a little hesitant, but then gave in.
I advertised the Bakersfield property to my network and on this blog, and to my surprise, was immediately contacted by a woman that was on the same initial bus tour we were on in June of '09. They had been trying to get a rehab deal ever since that bus trip without success. She said I was a "Godsend", and that I've answered their prayers. Talk about filling my ego!
I'm happy to say the transaction closed and it was a true win/win real estate transaction. We made money, my real estate agent made money, my contractor will make money, and my buyer will make money, and her real estate agent will make money. OK, so that's a win/win/win/win/win. AND, the end buyer will still get a great deal!
Dang that feels good!
Friday, November 12, 2010
Rosamond Light Fixer Available
Found another GREAT deal in CA. This one is ideal for cash flow. Asking $65.5k, contractor bid came in at $10k, Rentometer shows rental rates at $1250/mo. Not bad cash flow stats. ARV at $105k. Available late December.
http://budurl.com/kub9 for more pics, comps below.
Rentometer Rental Comps $1250:
Comps from last 3 months:
 |
| 3024 Richland, Rosamond, CA |
Rentometer Rental Comps $1250:
Comps from last 3 months:
| Address: | 3100 MYRTLE AVE (0.07 mi) | APN: | 472-161-24-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1329 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1663 | |
| Sale Date: | 09/10/2010 | Sale Amt: | $95,000.00 | ||
| Address: | 3000 MELVIN ST (0.20 mi) | APN: | 472-173-26-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1349 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1901 | |
| Sale Date: | 08/06/2010 | Sale Amt: | $90,000.00 | 0 | |
| Address: | 2756 WESTLAND DR (0.30 mi) | APN: | 251-343-14-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1472 | |
| Sale Date: | 08/20/2010 | Sale Amt: | $103,000.00 | ||
| Address: | 3401 TOPGUN ST (0.39 mi) | APN: | 251-603-01-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1497 | Built: | 1994 |
| Use Code: | SFR | Units: | Lot Size: | .16 | |
| Sale Date: | 10/14/2010 | Sale Amt: | $116,000.00 | ||
| Address: | 3417 TOPGUN ST (0.41 mi) | APN: | 251-603-03-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1497 | Built: | 1994 |
| Use Code: | SFR | Units: | Lot Size: | .15 | |
| Sale Date: | 10/07/2010 | Sale Amt: | $99,000.00 | ||
| Address: | 2648 WESTLAND DR (0.41 mi) | APN: | 251-343-03-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1468 | |
| Sale Date: | 07/09/2010 | Sale Amt: | $105,000.00 | ||
| Address: | 3308 DALE CT (0.41 mi) | APN: | 251-341-25-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1473 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1591 | |
| Sale Date: | 10/18/2010 | Sale Amt: | $131,000.00 | ||
| Address: | 3461 GRANITE CT (0.43 mi) | APN: | 472-192-14-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1266 | Built: | 1992 |
| Use Code: | SFR | Units: | Lot Size: | .148 | |
| Sale Date: | 08/18/2010 | Sale Amt: | $97,000.00 | ||
| Address: | 3309 EAGLE WAY (0.44 mi) | APN: | 251-341-01-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1667 | |
| Sale Date: | 08/13/2010 | Sale Amt: | $115,000.00 | ||
| Address: | 3301 DISCOVERY WAY (0.53 mi) | APN: | 251-352-15-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1473 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1362 | |
| Sale Date: | 08/11/2010 | Sale Amt: | $110,000.00 | ||
| Address: | 3525 SAN JACINTO AVE (0.59 mi) | APN: | 472-212-05-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1368 | Built: | 1993 |
| Use Code: | SFR | Units: | Lot Size: | .14 | |
| Sale Date: | 09/07/2010 | Sale Amt: | $100,000.00 | ||
Address: | 2424 OAKGROVE ST (0.95 mi) | APN: | 472-262-10-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1509 | Built: | 1993 |
| Use Code: | SFR | Units: | Lot Size: | .13 | |
| Sale Date: | 09/21/2010 | Sale Amt: | $115,000.00 | ||
Rosamond Light Fixer Available
Found another GREAT deal in CA. This one is ideal for cash flow. Asking $65.5k, contractor bid came in at $10k, Rentometer shows rental rates at $1250/mo. Not bad cash flow stats. ARV at $105k. Available late December.
http://budurl.com/kub9 for more pics, comps below.
Rentometer Rental Comps $1250:
Comps from last 3 months:
|
| 3024 Richland, Rosamond, CA |
Rentometer Rental Comps $1250:
Comps from last 3 months:
| Address: | 3100 MYRTLE AVE (0.07 mi) | APN: | 472-161-24-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1329 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1663 | |
| Sale Date: | 09/10/2010 | Sale Amt: | $95,000.00 | ||
| Address: | 3000 MELVIN ST (0.20 mi) | APN: | 472-173-26-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1349 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1901 | |
| Sale Date: | 08/06/2010 | Sale Amt: | $90,000.00 | 0 | |
| Address: | 2756 WESTLAND DR (0.30 mi) | APN: | 251-343-14-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1472 | |
| Sale Date: | 08/20/2010 | Sale Amt: | $103,000.00 | ||
| Address: | 3401 TOPGUN ST (0.39 mi) | APN: | 251-603-01-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1497 | Built: | 1994 |
| Use Code: | SFR | Units: | Lot Size: | .16 | |
| Sale Date: | 10/14/2010 | Sale Amt: | $116,000.00 | ||
| Address: | 3417 TOPGUN ST (0.41 mi) | APN: | 251-603-03-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1497 | Built: | 1994 |
| Use Code: | SFR | Units: | Lot Size: | .15 | |
| Sale Date: | 10/07/2010 | Sale Amt: | $99,000.00 | ||
| Address: | 2648 WESTLAND DR (0.41 mi) | APN: | 251-343-03-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1468 | |
| Sale Date: | 07/09/2010 | Sale Amt: | $105,000.00 | ||
| Address: | 3308 DALE CT (0.41 mi) | APN: | 251-341-25-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1473 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1591 | |
| Sale Date: | 10/18/2010 | Sale Amt: | $131,000.00 | ||
| Address: | 3461 GRANITE CT (0.43 mi) | APN: | 472-192-14-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1266 | Built: | 1992 |
| Use Code: | SFR | Units: | Lot Size: | .148 | |
| Sale Date: | 08/18/2010 | Sale Amt: | $97,000.00 | ||
| Address: | 3309 EAGLE WAY (0.44 mi) | APN: | 251-341-01-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1667 | |
| Sale Date: | 08/13/2010 | Sale Amt: | $115,000.00 | ||
| Address: | 3301 DISCOVERY WAY (0.53 mi) | APN: | 251-352-15-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1473 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1362 | |
| Sale Date: | 08/11/2010 | Sale Amt: | $110,000.00 | ||
| Address: | 3525 SAN JACINTO AVE (0.59 mi) | APN: | 472-212-05-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1368 | Built: | 1993 |
| Use Code: | SFR | Units: | Lot Size: | .14 | |
| Sale Date: | 09/07/2010 | Sale Amt: | $100,000.00 | ||
Address: | 2424 OAKGROVE ST (0.95 mi) | APN: | 472-262-10-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1509 | Built: | 1993 |
| Use Code: | SFR | Units: | Lot Size: | .13 | |
| Sale Date: | 09/21/2010 | Sale Amt: | $115,000.00 | ||
Rosamond Light Fixer Available
Found another GREAT deal in CA. This one is ideal for cash flow. Asking $65.5k, contractor bid came in at $10k, Rentometer shows rental rates at $1250/mo. Not bad cash flow stats. ARV at $105k. Available late December.
http://budurl.com/kub9 for more pics, comps below.
Rentometer Rental Comps $1250:
Comps from last 3 months:
|
| 3024 Richland, Rosamond, CA |
Rentometer Rental Comps $1250:
Comps from last 3 months:
| Address: | 3100 MYRTLE AVE (0.07 mi) | APN: | 472-161-24-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1329 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1663 | |
| Sale Date: | 09/10/2010 | Sale Amt: | $95,000.00 | ||
| Address: | 3000 MELVIN ST (0.20 mi) | APN: | 472-173-26-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1349 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1901 | |
| Sale Date: | 08/06/2010 | Sale Amt: | $90,000.00 | 0 | |
| Address: | 2756 WESTLAND DR (0.30 mi) | APN: | 251-343-14-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1472 | |
| Sale Date: | 08/20/2010 | Sale Amt: | $103,000.00 | ||
| Address: | 3401 TOPGUN ST (0.39 mi) | APN: | 251-603-01-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1497 | Built: | 1994 |
| Use Code: | SFR | Units: | Lot Size: | .16 | |
| Sale Date: | 10/14/2010 | Sale Amt: | $116,000.00 | ||
| Address: | 3417 TOPGUN ST (0.41 mi) | APN: | 251-603-03-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1497 | Built: | 1994 |
| Use Code: | SFR | Units: | Lot Size: | .15 | |
| Sale Date: | 10/07/2010 | Sale Amt: | $99,000.00 | ||
| Address: | 2648 WESTLAND DR (0.41 mi) | APN: | 251-343-03-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1468 | |
| Sale Date: | 07/09/2010 | Sale Amt: | $105,000.00 | ||
| Address: | 3308 DALE CT (0.41 mi) | APN: | 251-341-25-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1473 | Built: | 1989 |
| Use Code: | SFR | Units: | Lot Size: | .1591 | |
| Sale Date: | 10/18/2010 | Sale Amt: | $131,000.00 | ||
| Address: | 3461 GRANITE CT (0.43 mi) | APN: | 472-192-14-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1266 | Built: | 1992 |
| Use Code: | SFR | Units: | Lot Size: | .148 | |
| Sale Date: | 08/18/2010 | Sale Amt: | $97,000.00 | ||
| Address: | 3309 EAGLE WAY (0.44 mi) | APN: | 251-341-01-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1330 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1667 | |
| Sale Date: | 08/13/2010 | Sale Amt: | $115,000.00 | ||
| Address: | 3301 DISCOVERY WAY (0.53 mi) | APN: | 251-352-15-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1473 | Built: | 1990 |
| Use Code: | SFR | Units: | Lot Size: | .1362 | |
| Sale Date: | 08/11/2010 | Sale Amt: | $110,000.00 | ||
| Address: | 3525 SAN JACINTO AVE (0.59 mi) | APN: | 472-212-05-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1368 | Built: | 1993 |
| Use Code: | SFR | Units: | Lot Size: | .14 | |
| Sale Date: | 09/07/2010 | Sale Amt: | $100,000.00 | ||
Address: | 2424 OAKGROVE ST (0.95 mi) | APN: | 472-262-10-00 | ||
| Beds/Baths: | 3/2 | Sqft: | 1509 | Built: | 1993 |
| Use Code: | SFR | Units: | Lot Size: | .13 | |
| Sale Date: | 09/21/2010 | Sale Amt: | $115,000.00 | ||
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