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<blockquote data-quote="dmac1" data-source="post: 1868528" data-attributes="member: 60252"><p>If you are careful and find a property with hidden potential</p><p></p><p>For example- the timber property I mentioned was a rural home with about $90,000 worth of timber but the price of the home didn't reflect the timber value. I bought it, paid a company to cut the timber, haul it to the yard, and do the replanting. I netted over $40k just from the timber, then sold the property less than a year later for enough to cover my sales expenses and purchase price. </p><p></p><p>I visited the property a total of four times, and only needed $4500 down, with the owner carrying a second mortgage so I ended up with a 60% hard money loan @9% for the months I owned it. If anything went wrong, I could have moved into the property and rented out my current home for more than the mtg payment. </p><p></p><p>Much easier than running 3 routes plus a supp. Greater profit too. One deal like that every year is easy.</p></blockquote><p></p>
[QUOTE="dmac1, post: 1868528, member: 60252"] If you are careful and find a property with hidden potential For example- the timber property I mentioned was a rural home with about $90,000 worth of timber but the price of the home didn't reflect the timber value. I bought it, paid a company to cut the timber, haul it to the yard, and do the replanting. I netted over $40k just from the timber, then sold the property less than a year later for enough to cover my sales expenses and purchase price. I visited the property a total of four times, and only needed $4500 down, with the owner carrying a second mortgage so I ended up with a 60% hard money loan @9% for the months I owned it. If anything went wrong, I could have moved into the property and rented out my current home for more than the mtg payment. Much easier than running 3 routes plus a supp. Greater profit too. One deal like that every year is easy. [/QUOTE]
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