PMI helped motivate me to work with investors and to start the process of looking to purchase properties at the courthouse foreclosure sales. So far, with partnerships to help with financing, we have purchased 8 houses as rentals and sold one for a nice profit. The rental houses each have a $700 to $1,000 positive cash flow after paying PITI. This totals about $6,400 a month, which is $76,800 a year!

The housing market has heated up in San Diego County. When houses come on the market that are priced right, they get multiple offers; in one case that I called on, the house had received 70-90 offers. This is a good time to buy homes at the courthouse foreclosure sales. This is where I plan to work with PMI in looking for investments coming up. This is a great time to buy and sell houses.

Deal 1 - 1630 San Altos Place, Lemon Grove, CA 91945

I am Real Estate Broker and I found this deal in the MLS. I used a partner to help with the financing and to help with the down payment. We purchased this property as a fixer and we were hoping to sale the home for a profit or to rent. We purchased this house for $169,873 and sold it for $305,000. I put about $25,000 on the fix and sold it for about $305,000. Therefore with the fix cost and closing cost on both side of the transaction we had a profit of around $100,000.

Deal 2 – 630 Wabash Street, Escondido, CA 92026

I am Real Estate Broker and I found this deal on a MLS of REOs. I used a partner to help with the financing and to help with the down payment. We purchased this property as a fixer and we were planning to rent the home. We purchased this house for $150,000 and rented this house for $1,550 per month. Our payment with taxes, insurance and principle and interest at 5.5% is $680. Therefore the profit per month is approximately $870 a month

Deal 3 – 1930 Skyline Dr, San Diego, CA 91945

I am a Real Estate Broker and I found this deal on a bank web site of REOs. I used a partner to help with the financing and to help with the down payment. We purchase this property as a fixer and we were planning to rent the home. We purchased this house for $114,000 and rented this house for $1,500 a month. Our payment with taxes, insurance and principle and interest at 5.5% is $580. Therefore the profit per month is approximately $920 a month.

Deal 4 – 8255 Jamacha Rd, San Diego, CA 92114

I am a Real Estate Broker and I found this deal on a bank web site of REOs. I used a partner to help with the financing and to help with the down payment. We purchased this property as a fixer and we were hoping to sale the home for a profit or to rent. We purchased this house for $87,667 and rented it out for $1,575 a month. I put approximately $40,000 into the fix. I wanted to sell this one by my partner wants to hold and sell as the market improves down the road. Our payment with taxes, insurance and principle and interest is 5.5% is $465. Therefore the profit per month is $1,110 – not bad! I am happy now to hold this house and not sell because of the cash flow available.

Deal 5 – 432 E. El Norte Parkway, Escondido, CA 92026

I am a Real Estate Broker and I found this deal on a bank web site of REOs. I used a partner to help with the financing and to help with the down payment. We purchase this property as a fixer and we were planning to rent the home. We purchased this house for $129,325 and rented this house for $1,545 a month. Our payment with taxes, insurance and principle and interest at 5.5% is $655. Therefore the profit per month is approximately $890 a month.

Chris B.