I’m currently working on my longest deal ever. So far it’s been about eight months in the making. Let me show you how this deal evolved so you can learn how to make $70,000…with only a few hours worth of work.
About eight months ago one of my partners got a lead from a guy who owns a beachfront condo in Virginia Beach, VA. It’s a gorgeous condo in perfect condition. The owner is an “eccentric” individual who travels a lot and didn’t want to have to deal with the property anymore.
I met with this owner twice in person to negotiate the deal. At first I thought it was going to be an awesome lease option deal. The mortgage balance was relatively low and the place could be rented out for $3,000 a week during the peak season. My partner and I were looking at over a thousand dollars a month in cash flow.
I was at an investor’s meeting not too long ago talking with a young, idealistic, newbie investor who brushed off one of my real estate suggestions and told me he was looking for passive income. He wanted -in short order- to work only 4 hours per week. Ahh, yes, the fabled four-hour workweek, I’ve heard of it so many times yet I’ve never actually known anybody who had one, not anybody making any money at least. I think it must be next to the pot of gold at the end of the rainbow.
Joshua Dorkin
Charles Feldman
Ted Karsch.
