How to make 500K flipping Real Estate

As a flipper myself,  All I can say is WOW!!
1.1M Purchase Price
250K in repairs
2M Value after the repairs and 3 months
Nice
True story with pictures







Comments

Post a Comment

Popular posts from this blog

Colorado Court of Appeals Upholds Lender Responsibility for Assessments Post Foreclosure

On January 24, 2008, the Colorado Court of Appeals affirmed an EL Paso County District Court ruling awarding an association all assessments that were unpaid by the lender who became the owner of a unit after a foreclosure. The Court of Appeals also confirmed that the association was entitled to its costs and reasonable attorney fees associated with the unpaid assessments. Good case law protecting associations in Colorado is limited, so this case is helpful in: Affirming that associations have no obligation to file a notice of lien - lien is perfected by the recording of the declaration pursuant to C.R.S 38-333.3-316. Lien priorities are determined by C.R.S. 38-333.3-316, not a declaration. A security interest on a unit which has priority over all other security interests in the unit (e.g. a first deed of trust) must be consensual. Attorney fees awards aren't discretionary if allowed by statute or under non-discretionary language in a declaration. The super lien can never exceed an ...
Read more

Soaring rents in Denver have tenants thinking more about buying

Image
AND soaring home prices in Denver have tenants thinking more about renting... (The chicken or the egg) In metro Denver, fast-rising rental rates are pushing tenants to increasingly consider buying a home instead of renting. Denver-area rents are soaring three times faster than the U.S. average - a trend making Denverites more likely than their national counterparts to give up rental payments in favor of a mortgage. Seventeen percent of metro Denver renters expect to buy a home within the next year, compared to 12% nationwide, according to a Zillow survey released this week. Read article
Read more

Estimated FHA closing costs for buyers -buyers getting an FHA loan

BUYER’S CHARGES (buyer getting an FHA loan) 1. Purchase Price 2. Mortgage Title Policy 3. Miscellaneous Title Endorsements as Required by the New Lender (see title commitment) 4. Recording Fees 5. Loan Discount Fee 6. Doc Fee (.01 cent per $100 of sales price) 7. Hazard Insurance Premium (1st year) and reserves 8. FHA Mortgage Insurance *premium and. Reserves 9. Loan Discount Fee- as per contract 10. Tax Reserve Account 11. Survey* 12. Credit Report* 13. Appraisal* 14. Interest on New Loan* 15. Express Mail Fees (if applicable) 16. Real Estate and Loan Closing Fees 17. Homeowners Dues, Fees, etc. *Amounts Determined by the New Lender Note: Buyer must pay all prepaid expenses. All other charges are negotiable if agreed to by all parties in the sales contract.
Read more

Foreclosure Predators in Colorado

Homeowners falling behind on their payments are also falling victim to foreclosure predators. Once a property owner has missed two or three monthly payments, a lender routinely files a public notice of default with the county recorder’s office. This is the road to formal foreclosure. Scam artists simply have to read the notices to find possible victims. They then descend on the homeowners with an outstretched hand and offer to help, and trick them into signing over title to their homes. Usually, the rescuer is a stranger, who contacts them with a “great offer” to save their home. They say that they or another third party can temporarily “share” or assume title to the homeowner’s property That way, with someone else’s name on the title, struggling homeowners can refinance and improve their credit. And then once their credit is repaired, they would get sole title back. But in reality, this is when the second round of trouble starts. Victims find that their name has been removed from the ...
Read more

Denver area multi-million-dollar homes are selling fast!

Image
Mike Shanahan's Mansion More Denver area multi-million-dollar homes sold in May compared with both a month and a year earlier. In the Denver metro area, there were 232 sales of residential properties priced $1 million and higher in May, which is a 38 percent increase from the same month in 2016 and a 27 percent increase from April. Although there are more sales, buyers of the luxury homes might be getting a deal these days, as the median sales price for luxury properties in May dipped slightly to $1,293,150 compared with $1,296,000 in May 2016. Of the luxury home sales in the Denver metro area, 21 were of properties priced $2 million or more last month, the same as in May of 2016. Seven $3 million-plus homes were sold in May, compared to five in May 2016 and eight $3 million-plus sales last month, The most expensive Denver sale last month was an 11,716-square-foot estate with five bedrooms and six bathrooms, trading for $5,850,000. In Colorado right now, the most expensive ...
Read more