Earlier this week I was talking to one of my clients, Andrew Holmes in Illinois. He is a part time agent and full time investor who is using my systems to build his “flip business” (buy, fix and quickly resell). He is having tremendous results that I had to share with you all…
When Andrew first started with my program, he was able to buy, fix and quickly flip four foreclosure deals, with the help of a money partner. As a realtor, Andrew had done deals before, but never at the price levels I showed him. He especially liked my details on ” Doing the Right Math” so he knew exactly what price to “not exceed” on his offers and the “Finding the Money for Your Deals” so he knew how to never run out of money for his great deals.
Here are his results…
In 2008 he bought and or flipped 19 foreclosure investment homes, plus listed 29 as a short sales agent. In his first year he put $335,000 in the bank!
In 2009 he closed over 25 flips having a total net gain of $453,000 for the year, working REOs and pre-foreclosures from foreclosures.com listings, before they hit the MLS with great success.
Now, in 2010 he has already closed 5 flips and have 6 more in the pipeline. He is on target to do 45 flips this year.
Andrew’s average foreclosure deal is bought for $100,000, fixed up for $35,000, resold in 30 days for $200,000, and closing 60-90 days from start to finish with $25-$40,000 profit per deal. I am so proud of him!
Everyone, this is a great market for making money. There are absolutely tremendous foreclosure deals out there. Do what I teach, buy houses at a fraction of replacement and quickly resell them, taking little/no market risk and make some serious money.
If you are wondering how Andrew “Found Money for His Deals” make sure you join me this Tuesday in my Live Mini-Lab Webinar. I will share some new out-of-the-box ideas on how to find money partners and either assign your deal for a quick finders fee, or buy-fix-sell quickly for a nice payday in 60-90 days. There are pre-requisites to attend, details and registration here or call 800-310-7730 x2.
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