Anatomy of a $70K Real Estate Deal
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Today, Jay Conner talks about his latest real estate deal ($70+K Profit) on Quailwood Court in North Carolina.
Discover how he found the house along with seven important lessons he observed as he went thru the process of acquiring and closing this deal.
Lesson One: Get your realtor is send you automatically all the new bank owned properties and any houses with price reductions.
Lesson Two: Have your realtor watch the “Hot Sheet”. They receive any price reductions on MLS. This is a back up to lesson one.
Lesson Three: Time is of the essence. If you snooze, you lose. Once you determined that the property meets your requirements, you get out to look at the house and estimate repairs. Hot deals will get multiple offers fast.
Lesson Four: Accurately estimate repairs, so there are no surprises. Able to make an offer on the spot
Lesson Five: You must have your funding lined up before you make the offer. Jay offered to close all cash within 7 days of acceptance.
Lesson Six: Second chances ARV – $290K Repairs: $20K
Offered: $190K
Owners asked for highest and best offer
Offered $195K
Another offer was accepted.
Realtor continued to monitor the house.
A week later the house came back on the market.
Offered $190K again. No Contingencies. Accepted in 2 hours.
Profits: Over $70K
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Jay Conner has been investing in Real Estate for over 15 years. He typically makes 2 deals a month. He has bought and sold over 400 homes.
He had an 800 credit score and the bank closed his LOC. He needed to find a new source of funding. In the past eight years, Jay has never missed a deal because of funding.
He has developed a strong network of Private Money suppliers.
Chaffee-Thanh Nguyen started investing in Real Estate a decade ago. He dramatically changes and impacts the lives of thousands of people around the world as an Executive Success and Event coach with the likes of Powerteam International and Marshall Sylver’s Mind Power Inc. Chaffee also teaches at his own events.
The Conner Marketing Group
PO Box 1276 Morehead City,
North Carolina 28557
Phone: 252-808-2927
Fax: 252-240-2504
Free Webinar: How To Sell Any Home In 3 Days Or Less
No Matter How Crowded Your Market Is!
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WEALTH & FREEDOM FORECLOSURE SYSTEM
HOW TO FIND, TRACK AND PROFIT FROM FORECLOSURES
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What others are saying:
“Jay’s private lending scripts alone are worth the price of his entire system, and are the best I’ve ever heard … including mine!” – Ron LeGrand, Famous Real Estate Guru, Jacksonville, FL
“You will not believe this, but it is absolutely the truth … 3 days after attending Jay’s seminar Where to get the Money Now, I was doing a call on one of my customers. He was telling me about how he had just sold his home and I ask him if he had ever considered real-estate investing. After hearing the information that I shared out of Jay’s seminar, he is now in contact with my attorney to discuss his investment!“
– Donald A. Hovey, Norfolk, MA
Producer: Scott Paton
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DISCLAIMER: Jay Conner is not a financial advisor, real estate broker, licensed mortgage broker, certified financial planner, licensed attorney nor a certified public accountant, therefore consult with a professional prior to making any real estate investing.
#RealEstateInvesting #RealEstate #RealEstateForBeginners #PrivateMoney #FlippingHouses #Probate #AntFarm #JimHuntzicker #JayConner
Anatomy of a $70K Real Estate Deal
Fayetteville Hard Money Mortgage Lenders, Anatomy of a $70K Real Estate Deal.
Anatomy of a $70K Real Estate Deal. Popular News Local Real Estate, Interest Rates, How to Get a Good Mortgage, Mortgage Insurance,
Mortgage Lenders and Fayetteville Hard Money Mortgage Lenders local West Covina area.
3 Things You Need To Understand About Mortgage Rates
Consulting with a Mortgage consultant has its advantage, especially if you feel lost. They generally identify the interest rate for each private based on a set of criteria. It’s the same thing with a Mortgage.
Re-finance mortgage lenders deal with different parts of the borrowing market. So some lenders concentrate on prime loans, sub-prime loans, or both. Financial business likewise vary in how they structure their rates and charges. So with some mindful research study, you can discover the most affordable costing loan for your refi.
In some cases, a home goes all the way through foreclosure and winds up as a Genuine Estate Owned, or REO, residential or commercial property. If it has been put up for auction and an acceptable bid has not been made, this takes place. As soon as your home ends up being REO residential or commercial property, the bank or Mortgage loan provider needs to look after it. There will practically certainly be maintenance to do and repair work to make. The house will have to be secured from vandals, climate condition and decay. top-rated banks for refinancing lenders are not in business of looking after houses. They would rather do short sales and move the residential or commercial property on to another owner who can be responsible for it rather.
When you walk into a bank searching for residential or commercial property investing aid, do you ask a bank officer about his or her experience in the field? Not most likely! Whether the bank officer possesses the experience needed to direct you in this unique matter, they will want to get your organisation. This issue will not occur with brokers. Each home loan broker has existing understanding in his field; all you have to do is look for the candidate and choose the right one. A info here broker expert can provide skilled service customized to your needs.
Cons – Mortgage lenders have a greater operating expense over brokers. Typically they will use their own underwriters, processors and funding department. This might correspond in their rates they provide their clients. Nevertheless, most traditional rates i.e. Fannie Mae, Freddie Mac and FHA loans which represent the bulk of loans done by all home loan business are generally within a 1/8th of a point from each other when compared.
Avoid overstating your earnings and understating your expense. It is illegal to lie about your earnings on a home mortgage application. Remember that lenders will perform checks to ensure you have the ability to make your payments every month.
You will discover the finest financing with a prime loan if you have good credit with a score over 650. Many traditional financial business, such as banks and cooperative credit union, provide these market rate loans. Nevertheless, there are home loan business who likewise provide competitive financing.
So, don’t let the number click reference online home loan quotes sources trouble you. Look around, and comprehend that the online home loan quotes are bait and that home loan brokers are frequently the very best source. You still have to sort through them to get a great one.
For sure, you will deal with a number of concerns that only a home mortgage broker can address. This money is thought about reserves to manage your mortgage and upgrade your residential or commercial property.
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