remote fix & flips and auction vs open market purchase - webinar
TRANSCRIPT
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They do not provide legal, business, financial or personal advice related to individual situations and should not
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Remote Flips:
Auction
Open Market
Case Studies
Q & A4
connectrei.com/video
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»Before:R˃eview List
D˃rive by
A˃djust list and numbers
G˃et ready to auction
»Auction Day
»After 7
»RisksN˃o Inspection
N˃o title insurance
T˃ile issues
»BenefitsT˃he lowest price point
M˃argin for high profits
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» Purchase date 9/4/2012
» purchase price $72,000
» Renov. costs $20,000/$12,000
» Total investment $104,000
» Selling price $129,900
» Listing date 10/27/12
» Offer date 10/28/12 (less then 24 hours)
» Offer: $129,900
» Closing date 11/27/12
» Duration ~3 moths
» Profit ~$19,000
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4 / 2.5 | 2,596 Sq. Ft. | 1989 Built | 2 Car Garage | Pool
Purchased: 10/2/12 @ $146,000
Rehab: $15,000
Total investment: $161,000
For sale: 11/2/12 (30 days) @ $209,900
Market Value: $216, 600
Rent: $1,900
Estimated Profit: $38,500
Estimated duration: 4 months
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Option 1 Option 2Purchase price $81,601 $81,601 Rehab $20,000 $-
Total expenses $101,601 $81,601
Sell at $130,000 $107,000 Closing costs (agent fee+title+taxes) $8,200 $7,280
Total revenue $121,800 $99,720
Total profit $20,199 $18,119
Local Team profit share (40%) $8,080 $7,247.60 SDI profit share (20%) $4,039.80 $3,623.80 **Investors profit share (40%) $8,079.60 $7,247.60 **Investors cash on cash 16% 18%**Estimated duration 4 months 1 month**Annual 48% 213%Purchase Date 11/6/12 11/6/12Selling Date 3/1/13 12/1/12
»Purchase Methods:A˃uction
O˃pen Market (cash or financing)
»Investment options:O˃ption 1 – buy individually
O˃ption 2 – join a flip group
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»Ways to mitigate risk
»Ways to diverse risks
»Timeline: Next auctions 12/4 & 1/1
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Group
FREEONE ON ONE STRATEGY SESSION
(in-person | phone | Skype)
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REGISTER
Step 1 – Defining Your Strategy• Where to invest• What’s right for you• Obstacles elimination• Getting ready – financially• Getting ready – mentally
Step 2 – Finding a Property• Working with local team• Evaluating & analyzing deals• Making offers & negotiation• Completing purchase
Step 3 – Rent / Flip
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Dallas
Atlanta
Orlando
Simply Do It Network
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Markets & Programs Dallas Orlando Atlanta
Rental
Flips
Local Teams:
Agent
Property Manager
Rehab team