Apr 09 '09, 07:14 AMI have been aggressively purchasing distressed properties since the market started tanking. I am a realtor and look at new listings every day. My plan is to buy undervalued REOs that need minimal work and then place a lease/ purchase tenant in them. Lease/purchase is in huge demand and with our highly pervasive marketing, we are usually able to find someone within a month.
Here are the stats based on last deal:
Initial Investment
Down Payment 10000
Closing Costs 2504
Carpet 1350
Marketing 20
Paint 25
Utilities 51
Cleaning 65
Total Investment 14015
Here is my revenue:
$2500 Deposit
12 month profit X 600= $7200
ROI= (7200 + 2500)/ 14015
ROI= 69%
Opportunities like this abound and I have used up all my savings on very profitable deals. I have a worksheet that expounds on my numbers. I am looking for individuals who have at least $10,000 to invest. Good credit would be a plus. Please let me know if you are interested or would like to obtain more info.
