Free Teleseminar with Linda and Nyrick Huuskonen - 03/22/10
Optimus203
Monday, March 22. 8:00 - 8:45pm
Register at: http://www.ctreia.com/events.php?a=v&i=249
Be sure to check your email after registering. We'll email you the
phone number and pin access code for this Webinar.
Linda and Nyrick would like to thank you for the opportunity to share
our approach to real estate investing with your members. We get a
great deal of satisfation from sharing our experiences with others and
helping them avoid many of the pitfalls that we have experienced first
hand.
After hearing us teach, Tom attended one of our weekend classes. This
class is the same class that we will be teaching to CTREIA on March
27th and 28th. At that time, he owned 5 rental properties in
Massachusetts and was extremely frustrated because most months he had
to support his properties with outside sources of cash. He had bought
them using conventional financing and his model required that
everything function perfectly in order for the properties to cash
flow. Unfortunately, given the current economy, he found that he was
having a difficult time collecting rents on time and in many cases
going through the eviction process. These two factors resulted in
negative cash flow.
In November of last year, Tom went on the road to Pennsylvania with us
and he bought 2 bank owned houses.
One of the houses was 506 E.Division Street. It is a 4 bedroom 1 and
1/2 bath that need very little work. We negotiated a purchase price of
$9,250.00 and the rehab cost was $3,817.00. The after repair value of
this house is $57,000.00. This means that he has created over a 400%
return on his cash immediately. Tom has now rented the property for
$600.00 per month with the tenant paying all utilities including water
and sewer. If Tom has 6 months of vacancy, he will still make over a
20% return from cash flow on his investment.
Tom is so excited from this new approach to investing that he is
joining us for our Tax Sale Road Trip next month. He is one of a
number of students that have come on REO road trips with us, bought
properties and then joined us on road trips to other markets or to the
tax sale. The reason they want to pay to learn these new markets is
simple. They made more money on their first deals than they spent on
the education.
After we spoke at the CT REIA Monthly Meeting last night, more members
had questions than we had time to speak to. As a result, we are going
to offer a free teleseminar on Monday March 22nd at 8pm. It will be a
forum where were will be able to answer any questions that folks have.
We are looking forward to teaching you, in great detail, our approach
to investing on March 27th and 28th. The cost of $595.00 is for 2
people, not one. For those who are interested in going on our Tax Sale
Road Trip in April, it is important to know that the weekend class is
a pre requisite to going on the Road Trip. The students must have the
educational foundation from the weekend so that we can hit the ground
running when we get to Pennsylvania.
Thank you again for allowing us the opportunity to bring our story to
your members.