What is the Best Deal you ever did?

What is the Best Deal you ever did?

Member since 2008 · 22 posts · 1 vote

Real estate investing for many can seem like a very time consuming, over whelming, process especially when starting out. It's always good to hear success stories that make it all worth it and keep us going.

Please share the best (most profitable) deal you have ever done or been involved in. Please be specific, include details about the property and how it was acquired at what was done with it.

Ill get the ball rolling, however i am 24 and have never done a deal of my own, but i follow in the footsteps of my parents and will share their best deal.

After moving to a small town in AZ, my father wanting to get back to his cowboy roots started looking at cattle ranches for sale. He found one just 10 minutes outside of town, which included 35 square miles of lease permit (the right to run cattle, but owned by state) and 1100 of deaded acres (which he would actually own). No structures at all, just land. He paid $250,000 for the ranch to an old man nearing the end of the line, he just wanted to get rid of the ranch so he didnt have to work it anymore.

My father played cowboy on it for 5 years using it for a tax break from his real job with the intentions of subdividing and developing it. Unfortunetly serious illness prevented that and he sold it to an investor from california for $1.8 million. Who has developed it and made even more.

My father used this money to purchase many other properties all over AZ, which now 2 years later totals a little over 3 mil, and now that he is feeling better from the illness he is looking to purchase another ranch.

lets here some other good deals out there. And if you dont mind shaing how long youve been in it, what you started with and now how much your worth.

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  • Real Estate Investor · Fort Wayne, IN · Member since 2008 · 424 posts · 5 votes
    18y

    I'll go first. 2007 was my first year of full time investing. I invested part time for 3 years or so before that. This year we flipped 4 homes with decent success.

    My best deal so far was a 3 BR 1 Bath ranch that we bought as a HUD. Two week remodel, two weeks on market, full price offer. We made around $12,000 on it.

    We painted the exterior, shutters and doors, repainted the inside, replaced the bathroom, put hardware on the kitchen cabinet doors, replaced the flooring in the kitchen and bath and cleaned the carpet. Easy, simple, profitable. I wouldn't mind doing about 12 of these a year!

    Oh, and what am I worth? Eleventy billion gazillion dollars (according to my wife and son)

  • Residential Real Estate Agent · Los Angeles, CA · Member since 2008 · 1k+ posts · 9 votes
    18y

    Well lets see I am fairly new to REI but I have good ears and I pay attention very well so this past four years have been fun! I have yet to go on ventures on my own but I do bird-dog deals and wholesale to my private investors. The best deal (wholsale deal) I did this years was a two house deal in Compton, where my investor picked up both properties! I made a total (Got money from all different angels :wink: ) of $18,000 dollars after a 50% split with a partner for finders fees. And as far as how much I am worth here goes: I am worth the world for I have all the people who love me and that is what truly counts............

  • Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
    18y

    Many moons ago...

    I bought a flooded out 14X70 trailer in a rural trailer park for $1500. Spent $1500 on new carpet, some subfloor repairs, and paint, rented it out for a year at $400. The tenant loved the area, and wanted to buy it. Trouble was, he didn't have cash. He DID have a 4 bedroom, 2 story house in the city that his sister was "staying" in. Traded me straight across for the house, worth about $15,000 at the time, which I rented to the sister for a year at $500, and she painted the exterior. Then I sold it to her on a Deed of Trust for $600 per month. She refinanced about 2 years later and payed me off.

    The last deal I did was taking over an assumable VA for 49K, doing some light rehabbing spending 17K (well, ok , not that light! Nothing structural though), sold it after two opens for 79K with first time homebuyer 104% financing.

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