Any Recent Successes Here Netting Over 20k?
Hello all,
I have yet to complete my first deal and frankly, needing a pick me upper. On that note, has anyone brought home any fat checks lately 20k or more??
If so, please feel free to toot your horn for inspirational purposes.
Thanks
DT
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Hi DT,
I've had a few $20K deals earlier this summer. I try to have 15-25 projects going at a time, so I can't be as picky and I average closer to 7-8K, but the good ones come along. These are houses that sell for 100-150K, so the margin isn't bad (considering I have very little of my own money in it). I should get about $80K profit out of one of my places in Vegas right now that will sell for about 295k. But that's just because this city has been so crazy this past 18 months!
Good luck with your effort, just run the number, re-run the numbers, and if it looks good - go for it!
-Joe
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Hey joemac,
Thanks again for the reply. Are most of your 20k deals in marginal areas. The problem that I am running into is that most of the rehab properties that I am running into are in very low income neighborhoods. How does one go about finding rehab properties in nicer neighborhoods that would yield a higher profit margin?
I know there are other investors in here that are making some nice profits in addition to joemac. Please share.
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I just did my first deal yesterday and got a check for $45k at closing!!! Not bad for 2 weeks worth of work.
DaShow, Congrats! Good work! Care to give us details about your deal?
quinn
Congrats!! Details please...
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