deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $800/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months, will cashflow $300/month after the refi#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months, will cashflow $150-$200 after the refi#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1150/month, market value is $160,000, plan on refi into better loan in 3 months, will cashflow approx. $500/month after the refi#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $650,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.

@J Scott Are you still out of the Atlanta game like you said above?

Reason why is because I no longer want to use my own money, I want to set it aside and relax a bit and play the no money down game.

@Jon Klaus, we've found that to be true for us Jon.

@Scott Swink Not true.

On the other hand, just because someone read about this in some guru course somewhere, and filed one, if their contract was dead and they were playing games, I'd have no issue quashing it, and probably making them sorry they filed it.

Hello BP.

I've been saving money and finally have some money to start investing. Since Mobile homes are cheaper, I thought I'd start by reading up and researching on buying one and flip for a Lonnie deal.

...

I grew up in South Carolina in asmall town called Timmonsville.I am a college professor and the drummer in an 11-piece bandthat plays party dance music from the 60s, 70s, and 80s.My goals are to get back into the real estate game full hog and do it better this time :-).I would like to start with buy-and-flipping and later add buy -and- hold rentals.I am open to other techniques but wanna stick with one before movingto another.

There is plenty of equity in the property, but since most of it is penalties and interest and if it is true that they get nothing if the house goes to foreclosure, then it is an unnecessary expense that we would like to avoid.

If this is true, then I'm only after a report that reveals the Tax/Mechanic and Judgements.