I Purchased a Wholesale, Flip, and Rental - One Each Three Days in a Row.
What a great week. On Monday, I got an offer accepted on a wholesale house. I assigned it for a $10K profit. On Tuesday I got a subject to deal that I plan on holding as a rental. Then, on Wednesday I got an offer accepted on a property I've decided to flip. I almost couldn't get to bed early enough Wednesday night just thinking what might come Thursday, but the rest of the week was kind of quiet. Not a bad thing since I was leaving town for a mastermind group and had to be on the road early Friday.
I paid $75,000 for this nice vacation home and wholesaled it to one of my favorite buyers for $10,000.
I purchased this 2/1 in my rental farm. I paid $5,000 to the seller and $5,000 to another wholesaler who brought me the deal. I'm buying it subject to the 20 year loan that is already 11 years old. More than 1/2 the monthly payment is being applied to principal reduction. Now that is some awesome amortization!
I got an accepted offer on a 3/3 Townhouse at $205,000 and plan on\ rehabbing it, then selling it for $350,000. I haven't actually seen it yet, so I don't have a picture for you, but I'll get one soon.
Update 23 May 2014
The inherited tenant went a bit crazy on me when he found out his home of 19 years was being sold and he received a 60 day notice to vacate. He stopped paying rent and even offered to trade me a 44 handgun in lieu of rent. For obvious reasons, I thanked him for his very generous offer, but politely declined. I'm pretty deep into the eviction and hope to have possession in a few more weeks.
Update 26 June 2014
The tenant and I had our day in court. The judge ruled for me and now it is only a matter of a few weeks before I get possession. I also leased the front house on Tuesday's deal for $995/month to a nice couple expecting a baby in September.
Pictures below were taken after the tenant was evicted.