Wondering how I can utilize WordPress more effectively

Had a busy week building the business.  On Monday, I had an opportunity to join a business group in the Eastlake area.  Turns out I was not the only investor-rehabber in the group.  I wanted to talk to the gentleman after the meeting to exchange cards and possible add him to my list of potential buyers (or sellers), but he disappeared.  I did however pick up a bunch of contacts and had the opportunity to tell them exactly what I do.

I was able to get a referral to a potential property in National City, and able to secure an ad in the local magazine.  Of course, the Realtors in the group all gave me their cards.  I have meetings to set up with them.

I was also able to meet the woman who owns the home in National City and set up a time to see the property.

On Tuesday, I met with a general contractor who was highly referred to by a good friend of mine.  He showed me the work he does (I like), and he says he knows and understands how fast I need to get the projects done.  He does work for another investor, so he does have experience.

On Wednesday, saw the property in National City.  I brought a different contractor that I had spoken to last week, in order to get his opinion on the property and cost to renovate.  It turns out he wasn’t licensed, but he has been working with an investor/rehabber for over 5 years and knows exactly what needs to be done.  He said, all his projects need to be done in 15 days, and he could do the same.  But after getting the information I needed to analyze the property, it wasn’t a deal.  ARV was at $330,000, and they owed $235,000.  Construction & holding costs knocked the potential profit to $1,400.  I would need to buy the property below the amount they owed on the mortgage.  I tried working the deal toward my Realtor, but she felt that she could get more out of it by selling it herself.

On Thursday and Friday, analyzed several properties sent to me by my agent.  Made a few offers.  All we need to do now is wait to hear from the listing agents.

 

 

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~ by Llew Quinol on April 5, 2014.

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