Commercial Real Estate Investment Articles

We purchased a 5-bedroom/2.5-bath house for $87,000. We spent $6,000 in rehab (interior paint, all new floor coverings, misc cleaning and yard work), and put the house on the market for $119,900. Similar houses in this plat are selling in the $130,000 – $150,000 range, and we put this one on the market at a price to sell quickly. In three days, we had a full price offer, and the deal with the buyer closed today.

Just sold my first investment property for $37,000 net profit. Man, I’m fired up about this business. Here’s how it went down

Please accept a heartfelt “thank you” for this awesome site. I sincerely believe it is the extra encouraging push I sorely needed to do my first deal. I first became interested in creative real estate investing a little over a year ago when I ordered the Carleton Sheets course.

This story is not just about a great deal, but rather an attempt to help you realize one of many ways by which your dream of may be achieved. To those of you who are acquainted with what I have been doing since 1995 let me say this: Thank You. You’ve been a great support system. To those I haven’t met yet or who are just beginning down the road to financial freedom and do not know what I’ve been doing, this story is for you.

Today, I walked out of the title company with a check for 12,081.50. I have done several deals, including, but this is my biggest deal yet. (I am still a newbie.) I still can’t believe it. I simply put this property under contract for $50k and sold it to an investor for $63.5k. At closing, I netted about $12,000!

Just sold my first investment property for $37,000 net profit. Man, I’m fired up about this business. Here’s how it went down:

I moved to Santa Fe, New Mexico knowing no one and nothing about the real estate market. I also knew little to nothing about creative real estate investing, although I had purchased a couple rental properties the traditional way in the past. You know, large down payment, pay market price and wait for it to appreciate.

or seventeen years, I was a “company man.” But with each passing year, I was becoming more disillusioned with the corporate lifestyle. After watching many friends and family members lose jobs due to plant closings and “right-sizing,” I decided that NOW was the time to take control of my future BEFORE someone else took care of it for me.

On January 1, 2000 I called on a mobile home listed in the paper for $6,500. During our conversation, I learned that they had just moved back home to Louisiana and the home was vacant. He informed me that the home would be able to remain in the park.

Here is my first success story and my first deal ever. This is what got me hooked!

Last fall, I found a 10-unit apartment building in a suburban town just outside where I live that was being used by an elderly lady as a single family residence. She had purchased it a few years back so some of her children and grandchildren could live with her (in their own apartments) as she got older and needed their help.

Susan and I recently attendedBig Profits wtih Lease Options Workshop. I thought you might like to have an update on what we’ve done in the few months since these workshops.

As many of you already know, I started my real estate investing venture on June 21, 1998. At that time I had not done one deal. I was going through a very difficult time in my life and went for broke. I quit my job, I had no money, and I had bad (but improving) credit. I had my bills covered for one month.

I have always wanted to invest in real estate ever since I had to sell my New Hampshire home during a divorce and made $51,000.

I went to a local real estate auction where about 30 mobile homes were being auctioned off. Before the auction, I previewed 27 of the 30 mobiles. Some were dogs, but many were very nice. This was an absolute auction.

It all started about a year and a half ago when I decided it was time to own my own home. I did not want to pay a lot. I am a painter by trade and know many people in the other trades.

One year ago, my wife and I were living paycheck to paycheck. I was working a job I didn’t want to be at while she was attending college. On January 10, 1998 I quit my job (family business) out of frustration. Having no job and no income gave me the motivation I needed to dive into real estate investing.

Several months ago, I was talking to an owner facing a foreclosure on his home that had considerable equity. He was hoping to refinance and get cash out. However, he was self-employed and could not substantiate any income, so refinance was just not possible.

I can’t believe the deal that fell into my lap a couple of months back. I was helping my parents sell their home “for sale by owner.” At the open house, an interested buyer said he was interested in the larger home, but they needed to sell their house first.

On Christmas Eve, I did my first lease option deal on a beautiful single family that I will be living in myself. I gave them contract, and they signed it, no problem. They were actually happy that I saved them the attorneys’ fees! The deal worked out like this:

seemed to be the hot topic on the Creative Real Estate Online, so I thought I would order Lonnie Scruggs’ book Deals On Wheels and check out mobile home investing. For just $35, what did I have to lose?

I set up all of my single family home rentals on a lease option to purchase basis. Columbus, Ohio is a great market, so typically, a three-day ad is all I need to rent a place. I’ll receive an average of 35 to 40 calls per day while the ad is running. I make it a point to call back each and every person responding to an ad, even if I’ve already rented the advertised home.

Although I have been employed in real estate maintenance management for many years, I again began investing in my own properties in 1995, having lost my prior investments to divorce. From January 1995 to August 1998, I acquired 11 condominium units and reached a point where I believed that further financing just was not possible or at least that’s what the brokers wanted me to believe.

This is a deal that many of you here on Creative Real Estate Online helped me with, so I wanted to submit it as a success story. This deal actually took about two weeks to put together. It started when I called an ad for a house for rent in our local paper.

After getting engaged two months ago, I realized that I would like to buy a house some time in the future for my new family. I have had terrible credit for a few years now due to poor money management and reacting poorly to situations that life has given me despite being an intelligent person.