April was a very crazy month.
-spent the better part of the month helping family out of foreclosure, bankruptcy, repossessed cars, stacked credit cards etc etc.
-worked on a financial plan with them. They should be entirely debt free in 3 years if they can stay with it. 350k to 0 on 70k a year.
-Bought a 2nd mortgage on a property for 15k, used our line of credit. The property closed yesterday and we made 7k for doing practically nothing.
-acquired the services of a buyers agent.
-walked through around 2 dozen homes, looked over hundreds.
-made a bid on two different properties. One for my personal residence one for rental. Waiting for word on one, got denied on the other. Our terms were good but someone else offered to close in 2 weeks, we offered 3 weeks. Oh well. btw, ATW both properties were around the same area in Denver I previously mentioned. One was 73k other was 87k. Prices are very good right now.
-working with a lender....should be able to pull off 10% down at ~6.85% for the investment prop and no money down on my personal prop (VA loan).
May
-I intend to be under contract on personal prop and investment prop.
-Cleaning up both props.
-Continue to look into deals with our investment partners.
-Learn more about what it takes to be a landlord. (Open ended yes, but I haven't narrowed down what I need to do yet)
-spent the better part of the month helping family out of foreclosure, bankruptcy, repossessed cars, stacked credit cards etc etc.
-worked on a financial plan with them. They should be entirely debt free in 3 years if they can stay with it. 350k to 0 on 70k a year.
-Bought a 2nd mortgage on a property for 15k, used our line of credit. The property closed yesterday and we made 7k for doing practically nothing.
-acquired the services of a buyers agent.
-walked through around 2 dozen homes, looked over hundreds.
-made a bid on two different properties. One for my personal residence one for rental. Waiting for word on one, got denied on the other. Our terms were good but someone else offered to close in 2 weeks, we offered 3 weeks. Oh well. btw, ATW both properties were around the same area in Denver I previously mentioned. One was 73k other was 87k. Prices are very good right now.
-working with a lender....should be able to pull off 10% down at ~6.85% for the investment prop and no money down on my personal prop (VA loan).
May
-I intend to be under contract on personal prop and investment prop.
-Cleaning up both props.
-Continue to look into deals with our investment partners.
-Learn more about what it takes to be a landlord. (Open ended yes, but I haven't narrowed down what I need to do yet)
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
dup_taqis:
