HVAC Systems:  If the A/C is an old system, replace it.  Replacement generally costs $1.25-$1.60 per sf.  Have A/C system inspected before making payment to A/C tech.

INSPECTIONS:  Have property inspected weekly during the repair phase.

Today I begin the rehab by lifting the house.

THESE ARE THE RIGHT NOW PHOTOS: 

BIRDOGS

If you have a house under contract and you need to sell fast call me at 210-599-3701

INVESTORS

If you need to buy a handyman special house or a rental property, I may have a option, contract, or a property you can purchase.  Call me 210-599-3701    

 One source of bargain homes are other birdogs or wholesalers.  Sometimes they are willing to split the profit if you can reach into your investor network.  Although this property was purchased 63% of value, the seller was able to repair and resell within 5 months.  

#1 LOCATED OFF-MARKET for $60,000.00 plus birdog fee on June 23, 2006

#2 INVESTOR REHABS HOUSE

#3 SELLS ON MLS (#609513) for $94,000.00 contracted November 23, 2006

Realtors recieve offers all day long, REO brokers even more.  Sellers begin to reduce their expectations of a sale over the course of months, weeks, even days.  It would be nice to think that the realtor will hang on to your offer and call you when the seller is willing to sell, but most dont.  It is critical to call all agents and sellers with some consistancy so that your offer stays “fresh”.  We were able to get this house $17,500.00 below asking price (25.5% off), and $41,000 below the final resale price (44% off or 56% of value).

#1 ASKING PRICE $68,500.00 (#MLS #562765)

#2 BOUGHT for $51,000.00 + biddog fee on March 13, 2006 .  CONTRACT:  all cash, no concessions, no option, seller paid title.

#3 REHABBED BY PRIVATE INVESTOR

#4 SOLD BY PRIVATE INVESTOR TO RETAIL BUYER (MLS #605371) for $92,000.00 on september 26, 2006.

The investor who I located this estate for was new to town and didnt have good repair connections.  During the option period, he got a bid for foundation repair for $18,555.00 (1/2 up front and 1/2 upon completion).  I called my foundation guy and got the whole project complete with warranty and engineers report for $4,400.00.  Deal Closed.    

CASE STUDY:

#1 BOUGHT OFF MLS (#574767) for $135,000.0 on Febuary 20, 2006 [birdog fee+ commission=$6,000.00]

#2 REHAB BY PRIVATE INVESTOR

#3 SOLD OWNER FINANCE FOR $227,000.00 on August 25, 2006 ($92,000 over the purchase price)

I located this bargain, negotiated a huge discount and called my strongest cash investor.  He felt the property fell out of his formula box (70% of ARV minus repairs).  So he passed on the opportunity.  I gathered every phone number of every investor I ever met and called them about the deal.  An accountant I had met while bargain hunting bought the house $55,000.00 less than the asking price.  After he completed the repairs, he sold to a retail buyer, $55,000.00 above his purchase price six months earlier.

CASE STUDY

#1 LISTED ON MLS (#557363) for $225,000.00

#2 NEGOTIATED PRICE to $170,000.00 or $55,000.00 below asking price plus birdog fee on January 18, 2006.

#3 REHABED BY PRIVATE INVESTOR

#4 SOLD TO RETAIL BUYER ON JULY 19, 2006 for $225,250.00

DOUBLE FLIP:  When you sell the same lead back-to-back.

Sometimes you can flip the same deal twice.  On this deal, an investor bought the bargain for $182,500 plus my birdog fee after seeing my vision ofadding 2000 square feet to maximize profit.  This investor would always put the house right back up after he bought it for a few weeks before he began repairs so I called more investors and mentioned the profit possibility.  A second investor bought the house for $200,000.00 plus the birdog fee.  That investor sold it to a third investor for $215,000.00 who would actual go through the process of remodel.  That third investor eventually sold the house for $549,000.00.     

CASE STUDY:

#1  BARGAIN LOCATED (MLS#559118)  asking $229,000.00  Upon locating home, we saw the opportunity to redo the home on a grand scale.  The profit potential was huge, as were the risks, costs, skill, and time required to turn the property.

#2  SOLD TO PRIVATE INVESTOR for $182,500.00 or $46,500.00 below asking price to local private investor on October 14, 2005.  The contract was a no option, no contigency, $1,500 earnest money, buyer paid title policy.  +Birdog Fee   

#3  RESOLD TO SECOND PRIVATE INVESTOR for $200,000.00 or $17,500.00 over purchase price on December 2, 2005.  +Birdog Fee 

#4 RESOLD TO THIRD PRIVATE INVESTOR for $215,000.00 on June 19, 2006 (MLS#582249).

#5 SOLD TO RETAIL BUYER for $549,000.00 on August 8, 2008 (MLS #732832).