2 Deals In 2 Weeks =$20,000 Back At Closing!

By | June 12, 2015

miike-29-300I recently shared a post about an investment my partner and I made on a single family home in Cleveland OH where we were able to utilize 100% financing strategy AND walk away from the closing table with $13,000.00!

At the same time we were working on closing the East 149 property a great deal popped up on a duplex a few blocks over that we were able to lock up for $9,000.00. This duplex will rent for $525.00 per unit bringing us $1050.00 in gross monthly income! Our strategy for the first property ran so smooth that I decided to “rinse and repeat” the process with this one. By borrowing $20,000 with a P/I payment of $667.00 for 48 months this property would cash flow $383.00. Take out taxes and insurance and we still have a positive monthly cash flow of over $250.00 per month!

I went back to my private lender and requested a loan for $20,000 to purchase this property. I have a flawless track record with my lender so he typically does not question my investment decisions.

Do what you say, say what you do and you can get what you want!”

Back to the deal, We received the $20,000.00 to purchase this property and left the closing table with an additional $10,000.00! From these 2 deals we now have over $20,000 in the bank.

Other peoples money is an extremely powerful tool and I wanted to leverage this as high as I can so my partner and I agreed to do something I typically DO NOT recommend: Sweat Equity

The reason we were willing to roll up our sleeves and get dirty on this one was to keep as much of the $20,000 so we could gamble in Vegas… Just Kidding!!

We realized if we could squeeze in 2 more investment properties with the additional $20,000 we had in the bank our monthly cash flow would EXPLODE!!

The company we are purchasing these properties under was designed to reinvest every dime that comes in for 4 years while borrowing and investing in additional properties every few months. My partner that I have under this company is the same age as me and neither one of us needs the money that this company will generate. This makes it the perfect scenario for compounded re-investment as we will not be “dipping” into this companies cash flow.

The exit strategy for us is to acquire 40+ properties over the next 4 years utilizing OPM structured around 4 year principal and interest pay off term At the end of the 48 month term we liquidate this portfolio for a projected $1.5 million!

Think about having $1.5 million in 48 months using this disciplined strategy!

If you haven’t structured your plan to exit the “rat race” I encourage you to map out a plan today! 4 years will fly by! Are you ready to begin building your million dollar empire today? I hope so! The last thing we want is to look back 48 months from now and say I wish I would of started back then!

Remember, when you invest for cash flow you do not need to go all out on your rehab. Here are the links to the before and after videos of our East 149th property that we had rehabbed and rented in 8 days!

Check them out here:
East 149 pre-rehab video
East 149th 8 days later

As you can see its pretty easy to clean up an investment property! It’s time to get off the fence! Start analyzing deals, present them to private lenders and start TAKING ACTION TODAY!

Leave a Reply

Your email address will not be published. Required fields are marked *