In all, between all three properties, we are looking to bring in $2,530,000 in profit over the next two years.

It’s me Gus. I’m going to send you three sets of information and some pictures. As you will see, the sales price on this house was over $900,000. I was able to negotiate it down to about $790,000 and picked up about $50,000 worth of furniture in the deal. I ran comps since we went to contract and found that today it is worth about $1,200,000. My family and I will stay in this home for at least 2 years, and we will see where things go from there. That represents a total profit of $460,000.

My first deal we did back in January. It was a property we picked up for about $480,000 with comps in about $650,000 at the time. Since then, the market has really taken off in this particular area, and homes of this size are going for about $800,000 (4107 Square Feet). We have rented this out with an option to purchase in 12 months @ FMV (trying to avoid short term capital gains). Just another distressed situation, unfortunately it was a divorce situation where the husband and wife just wanted to get rid of the property because it was tying up their divorce from being finalized. That represents a $320,000 profit.

The last one is a ranch property and probably our biggest project year-to-date. What we are doing on this project is basically remodeling from top to bottom. The land alone is about $1,500,000, where we bought it for $1,300,000. We will invest about $250,000 additional when it is all said and done. At that point we think we can get about 3.3 million. We have already been offered $1,800,000 million with no repairs. Because of tax we decided to complete restore first. This should profit us about $1,750,000.

In all, between all three properties, we are looking to bring in $2,530,000 in profit over the next two years.

Gustavo & Laura V.