Update on our member's progress!
This certainly was our most ambitious road trip. It was a week-long learning adventure for the students. They worked really hard to enter a new market, and a city they had never even been to!
The Students did a great deal of prep to fully take advantage of the week-long road trip. These were very intense 12+ hour days. The first three days were preparing for the tax sale on Friday. This included getting to know the area, meeting with all the team members they would need to operate there, quickly analyze dozens of properties to narrow it down to the best selections.
Finally the big moment arrived and six houses were purchased. They chose 2 houses to do as a group. This is where all their team member contact came into play. They will be walked thru the entire analysis, purchase, project and rental/sale of their houses. They paid $4850.20. NOT EACH, FOR BOTH PROPERTIES!!!!!!!
Sounds great, but that just wasn't enough for this crowd. With barely a good nights sleep they hit the pavement again to try their hand at applying their newly acquired knowledge to REOs or bank owned properties. Since everyone is interested in building a portfolio here, the next step was purchasing a nest or a base of operations.
After carefully analyzing the best deals they could find, offers were submitted and the wait was not long. The group found out Monday morning that the offer for the base of operations was accepted! Tuesday, another one of the students offers was accepted.
So after 7 days 6 properties were purchased and 2 under contract.
As if that wasn't enough, this group is also negotiating an option on yet another property. They are going along that process with the seller to see if we can put together a win/win scenario.
The students have been broken up into teams of two. Each team is completely responsible for their project. All teams will be joining in group webinars to share their information and progress while learning from the other teams experiences as well.
We are thrilled with this trip. As exciting as this week has been, it is only the beginning in our plans both as a group and individually in this area.
And of course, as always, there is more!!!!!
Cleveland is coming up and participants in this group have either gone there already or are going there in May. Lots of hard work will go into continuing in PA as well as push forward in Cleveland .....
This is only the beginning of the success this group will be seeing!
Linda Huuskonen
Interested in learning how to do this? Check out the next event.
If you would like to be added to our mailing list so we can keep you informed please use the form below.