The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Monday, February 27, 2006

Offer #3 Finally working a deal!

Ok, so my dry spell is finally over!

Last weekend, I got a call from a seller in foreclosure. The house is in Vail which is on the outskirts of Tucson. This is a up and coming area.

Basically, I'm under contract right now. The plan is to purchase subto and flip it using the MLS. Not a common strategy , but if you get in low enough, you can make your profit and not work hard!

The purchase price is around a whopping $370,000 dollars! This deal already has plenty of twists and turns... I promise to post all the steamy details after the deal is handled....
|| Bginvestor, 7:25 PM

3 Comments:

How can I get started doing subject to deals in Phoenix(north & east), Scottsdale, Chandler areas? Have any classifed ads ? Since homes have appreciation are you finding very few owners in default go for subect to & just sell on their own? Thanks for your info & advice & such a great blog. Cary
Blogger cary, at 1:28 PM  
Cary,

For subtos, I would look for 1-3 year old houses w/ low equity. The sellers are willing to do subtos because they will owe money if using a realtor to sell. I would concentrate marketing efforts in this area by using postcards, ads, bandit signs, birddogs, business cards, and networking .

Good luck,

Bginvestor
Blogger Bginvestor, at 6:13 PM  
Oooo, how exciting! Way to break out and do something creative!!!
Blogger Trisha#1, at 10:15 PM  

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