$25,000.00 on a “Subject To” Deal in 30 Days

Her motivation was simple, to move down south to be with her sister, but after she secured a second note the equity in the house was used up thus she could not afford a realtor, closing, and holding costs.

Originally, I was going to rent the house. The problem is that in Vegas you got to get them real cheap to have cash flow because several investors have bought and held properties here. Then I was going to advertise it as a lease option. I finally decided to sell it and took Williams’s suggestion in his Extreme Marketing book to get a metal, large, realtor style sign; I did, and put it out front just in case a good buyer drove by.

Sure enough, shortly thereafter buyer called and said they wanted to buy and could close after a week. His father was taking out a home equity loan on his residence in California. After two weeks it was a gross profit was about 25k in one month. Not too bad for this new investor.

This is how the numbers worked out:

$200k My purchase price (first loan and home equity loan)
$2k Holding and repairs
$227k Selling price

Thanks William Tingle.

Bill Guerra (Bill in Vegas)