Nicola closed. I think I netted about $2,800. Pretty funny! At least I didn’t lose any cash. I have a house in Los Angeles on 85th St. about to close. I am only handling the paperwork so my partner is paying me $1,000. I’ll take a $1,000 though. I also got NFCU to accept an offer on the Oak Meadows property. They are accepting $220K with me representing the seller and another agent representing the buyer. I have a back up escrow going with a retail buyer for $285K. I am expecting my partner and I to net about $25,000 each (conservatively), the other agent $2,000, and our two private money investors to get $1,000 each for helping to provide the wet close money. Great deal for all involved.
I am working with two mortgage brokers on securing a large pool of private money. It should be a very interesting ride if we get that going. I am also making offers on REO properties now; A minimum of 1 per day. I am shooting for 3.
I attending Financial Freedom taught by Gary Johnston and Clyde Wilson. An excellent seminar. I will definitely be putting some of that knowledge to use. I plan on taking my wife next time it is in town.
Well, not much else to report. State of the economy: BAD. President Obama is in office. Kind of cool to have him as a President. I hope he does a good job. I personally think the things that he is doing as far as bail-out money is a huge mistake. Better to let the free market prevail. But, who am I to make that kind of decision.