I will endeavor to inform and entertain.
Most of you know me from the Real Estate industry.
Some of you remember me from my days running a little place called Del Frisco's.
I'm reaching out to everyone to reconnect and rekindle.
So to get this started I'm going to share one of my all time favorite deals I did a couple of years ago. I bought this home in downtown Caddo Mills for a ridiculuosly low price. With out going into sordid detail here let's just say it was distressed.
The bonus was that it came equipped with this one of a kind designer throne. The whole house had been decorated in similar fashion by the "residents".
We just cleaned this place out and sold it as-is on the MLS for a tidy little profit.
I have a few more gems like this I"ll share from time to time.
This is the kind of thing you run into in the wholesale side of the business.
Wherever I go there always seems to be a lot of interest in real estate investing. I am here to tell you that it is not a get rich quick game. Like anything else there is a lot of hard work involved but there is a corresponding reward and the chance to hit an occasional big lick.
Right now, the market is prime for acquiring longer term hold rental property.
There are a lot of formulas you can use to analyze deals.
The hot one now is 50x rent.
It is literally possible to acquire, rehab and lease a decent suburban Dallas for 50 times what you can rent it for.
For Texas A&M grads that means if you rent it for $1000 you can buy it and be all in at $50k.
Somebody calculate what that would be as an annualized ROI.
I think it's a pretty high number.
Now, 50x rent is the upper limit and this time of investment is not very liquid so it's not for everyone.
If you want to hear more, let me know.
Going forward, we will cover other topics according to Mike including all types of renovation and repair, retail transaction tips and hints, appraisals, inspections, bank loans, hard money and more.
I might also share the occassional stolen recipe.
No comments:
Post a Comment