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EXECUTION Build a real estate company in a D area

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JohnD Realestate

JohnD Realestate

Making Real Estate Great Again.
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Dec 23, 2017
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Newburgh.....Brooklyn is game compared to newburgh.

Not a Humvee. kinda looks like a tank on wheels.

180grams of cocaine I forgot how much heroin and a .38 so no Scarface’s but they were def dragging my property down.

I had video of the cops in that hallways with m16s but I gave it to the cops.
 

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Bigguns50

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Feb 12, 2013
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Detroit suburbs, MI
Outstanding thread @JohnD Realestate . Thank you for your time. I was in the Hard Money biz for 4 years. All you wrote about, I've pretty much seen here.

I'm in a Detroit suburb and your buildings are basically the same as ones here in the bad areas of the D. There's a LOT of big money pouring into the City an it's been an impressive turnaround.

Still...outside the downtown, there's money to be made.

My Wife and I are heading out to AZ soon and I'm convinced I can successfully flip homes there.
 
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JohnD Realestate

JohnD Realestate

Making Real Estate Great Again.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 23, 2017
104
217
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46
Chappaqua
Closed out the last of the big hard money loan at 12% today.

Sold 3 properties this month. Paid about 1.1 for them and sold them for 1.7 def not fast lane tho.

Reading MFL right now trying to figure how To find the fast lane in my biz. Looking for needs. Listening. Good times.

Nice not to have 12k in mortgages due next week.

I still have 4 properties only one needs work. I’m at 70% occupancy and cash flowing pretty well now after I sold everything.

Still planning to sell the rest.

But I did come up with an idea.

Kind of a buying service for other investors. The guys that bought me out asked me to find them other stuff. Found them a deal today at 10:15am. By 10:30 it was done.

Did all the work over the phone in 15-20 minutes and made 4K....had to pay another guy the other 4K. More to follow on that.

Oh yea that was the Scarface building I sold today. Bought for 664 sold 825. Not a home run but the other deal I sold this months the one I bought for 560k sold for 895k so not a bad month after all. Still not fast lane tho. Working on it.
 
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JohnD Realestate

JohnD Realestate

Making Real Estate Great Again.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 23, 2017
104
217
162
46
Chappaqua
@Bigguns50 I’ve been thinking about it. I like the action of doing deals.

I don’t have much money tho. Coild
I ask how you got into it?
 

Bigguns50

Platinum Contributor
Summit Attendee
Speedway Pass
Feb 12, 2013
1,510
2,803
680
Detroit suburbs, MI
Hey @JohnD Realestate ... I was in the biz 4 years before the 'crash'. Not in it now. However, I did learn a LOT. Hard money lending isn't regulated like conventional lending.

The simple version, and you can DM me if you want more details....Start a business, get investors, get borrowers, make a LOT of money. You don't have to use your own money.

You make money on the initial loan fee, point spread (you charge the borrower say 15%, the investor gets 12%, you get 3%), inspection fees, etc. Typically 3yr loans w/balloon payment. Most pay back as soon as they flip the property.

The company I worked for never advertised. Word spreads fast when investors are making money.
 
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JohnD Realestate

JohnD Realestate

Making Real Estate Great Again.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 23, 2017
104
217
162
46
Chappaqua
Closed two deals this week. 103 renwick Newburgh NY. Bought for 69k reno 95k and sold for 250k. Not bad but it was a lot of work for that profit.

Did a wholesale deal on 22 renwick. Mentioned it above 4K for me and another guy that found the house.

Almost completely out of Newburgh RE.

Still toying with some ideas on what to do next.

Been thinking about a hair loss product company. Been doing some research.
 

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