2 deals in the works
We have one rental property in Michigan with a great tenant paying on time. The property cash flows great. We also have two deals going with a hml, these deals are getting close to closing and becoming a reality. I'm praying that they come to fruition and really help to launch our business.
That being said I've started to really learn negotiating skills as I got both properties under contract way under value, one I got them to drop the price almost 30 thousand dollars. I've also been learning how to get a good arv number, we were within 9 thousand dollars of the evaluators from the hml, we hit their high number right on the head. Our repair estimates are getting better as well. I've also learned patience as no deal ever goes without a few hiccups, so far we've hit all of them in stride and the deals aren't lost.
Overall I'm very excited and highly motivated to get more deals moving. Thanks to Bigger Pockets and all the others on here for posting and blogging great info to really help us newbies along.
Blessings
Don
Most Popular Reply
@Donald Cooley Congrats! It really sounds like you have both feet on the ground. Are you flipping these hml deals? Or BRRR? Also, are you investing in New Baltimore and surrounding areas or down in metro Detroit? Keep up the good work!