If you missed the first six, here they are:
$140,874 Profit - Student Deal Highlight
$13,000 Profit - Student Deal Highlight
$26,000 Profit - Student Deal Highlight
$23,637 Profit - Student Deal Highlight
$50,000 Profit - Student Deal Highlight
$81,500 Profit - Student Deal Highlight
Profit
The student in today’s deal highlight made $6,000 in profit. This was a fire damaged property which basically sold for the value of the land. The student originally had it under contract for $20,000 but was unable to sell it. The seller was eager to sell and was willing to reduce the purchase price to $8,000. The student found a buyer who was willing to pay $14,000, leading to his $6,000 profit for the land with an unsalvageable home.
List
The student found this property by marketing to a tax delinquency list. This is a list of homes that are behind on their property taxes and may need an investor’s help. It’s a great list because many of the homes are distressed and the sellers often have an urgency about wanting to sell quickly for cash.
Channel
Texting.
The student contacted the seller with a text asking if he’d be interested in selling the property.
Timeline
The student made the first contact with the owner on February 7 last year. He was able to put the property under contract on Februrary 11th. The transaction closed a little over a month later at the end of March.
Cost
His costs would’ve been minimal. Mainly the cost of the texting software he was using & the cost he paid for the tax delinquent list. He did not have to purchase the property himself and come up with the $8,000. He was able to close the transaction where the buyer’s money would cover the purchase price & he would be paid the difference.
Student Quote
“My BIGGEST takeaway is something I learned from Chris and Josh: 'there's always a price' someone will purchase at. I almost quit [on this deal] when one buyer said he didn’t want this property. But it was worth shooting back a number to him because again, there's always some price that will get a deal done. Yay Jesus!!!”
Takeaway
This student had a difficult situation on his hands with an unsalvageable house & needing to sell the property for lot value. He talked to a few buyers who were intimidated by the project at the initial numbers he sent out. But when the buyers told him his sale price wouldn’t work, instead of walking away from the deal, the student worked with the seller & the buyer to come up with a solution. The lesson here is that navigating difficult situations can pay off in the end. You just have to be persistent and help all of the parties involved come up with a creative solution.
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We’ve had a few new students join our Flip Hacking Course & Mastermind recently where we teach you how to flip houses (or lots) like I’ve described above. Flip Hacking is how I was able to come off the payroll at our church & it’s a great way to earn extra income if you’re in ministry.
Check out our website to watch an intro video & read testimonials about others that have had success in this business. I’m glad to help in any way I can!
