Below, you will find info on 2 Hot Silver Platter Deals, my latest Book Recommendation, and my latest Real Estate Scam Alert!! All values (ARV, Repairs, etc.) for the properties below were through our own due dilligence, so please do your own due diligence to verify. Contact me right away if interested.
Have a deal you want to get rid of? Just go to This Page to post a deal.
Got a lead that you want to just pass on and get compensated with $500 - $1,000 when we close? REPLY NOW!!
Note: Bare with me on the newsletter, we will be migrating to a better look very soon!
Also, our Investor Database Migration should be finally taking place next week. As soon as I hear from my webmaster I'll let you know!
Silver Platter Deals!!
Silver Platter Deal #1
The 5 Bedroom/2Bath Norfolk, VA deal is still available. The seller is looking for a quick sell before it goes into foreclosure.
I almost fell out of my chair when my parnter told me he is REDUCING THE ASSIGNMENT FEE!
The previous $6900 assignment fee for setting up this great deal with the home owner has now BEEN REDUCED TO $1,000!
http://fsbl.blogspot.com/2008_03_01_archive.html
It's still priced low: $119,900.
Again, it has appraised for $180,000 and the local comps support it.
$59,000+ Instant Equity!!
67% ARV!!
It already has a tenant paying $550/m.
The upper unit can easily go for $750-$850.
So you'll be looking at Instant Cashflow!
Schools, Shopping Malls, etc. all nearby!
Click the link below for more info:
http://fsbl.blogspot.com/2008_03_01_archive.html
Let me know if you want to take advantage of this awesome deal!
Silver Platter Deal # 2
This 4BR/1Bth Baltimore, MD townhouse is in great shape. It is currently being rented out by the room. Two rooms are occupied and generating $1,000/m in rental income. When you rent the other two vacant rooms it will generate $2,000/m. This one will go fast.
http://fsbl.blogspot.com/2008/03/2000m-in-rental-income-this-deal-is-hot.html
Description: 4BR/1BTH
Current Rent $1,000/m (Potenial rent $2,000/m)
Your Price: Only $105.7K
A $2,000 deposit with our contract is required to take this deal off the market.
Click the link below for more info:
http://fsbl.blogspot.com/2008/03/2000m-in-rental-income-this-deal-is-hot.html
Let me know if you want to take advantage of this awesome deal!
My Latest Book Recommendation
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Learn how you can go from a $50,000 Fixer-Upper to a $100 Million Dollar Mansion
Discover the huge pool of deals that you have access to right now and can profit greatly from - all while someone else is doing the work for you
Discover how you can go from the Corporate World to Real Estate Investor in 1 year or less - all while not risking your own cash or credit
Learn how a conventional Realtor went from $4 Million per year in sales to $100 Million per year in sales in one one year's time with less work and more time to enjoy life...he reveals to you how you can do the same
For more information, click here!
REAL ESTATE SCAM ALERT!!
It's idiots like this that give us ethical and honest Investors a bad name! This came from a friend of mine:
Hey Lamar,
Please pass this email on to any real estate investor that you know. Particularly new investors just getting started. The following scam has been attempted on us twice in the last 30 days.
Since it seems to be popular right now I am getting the word out to everyone on our list.
The Setup
An investor is interested in purchasing one of your investment properties. He will always be out of state (a component of the scam). He needs to wire funds, or send you a check for the earnest money deposit.
The Accomplice
This investor will always have someone 'local' that he needs you to pay out of the money he sends you. In other words, the earnest money deposit will always include additional funds for you to give to his local partner (this local partner can sometimes even be an "attorney." This is to lend credibility to the scam. Whether or not the person is an attorney remains to be seen).
The Delay
There will always be a reason for a payment delay that will necessitate you paying the accomplice in advance. This too is a critical element of the scam. In some cases the investor will actually send you a UPS or FedEx tracking number to assure you that payment is on the way.
The Scam!
The check, if it arrives, will never be real. The hope is that you will pay the accomplice in advance of getting your check. This is the money that they will make. In both cases they tried to get $1,750.00 from us in advance (for the accomplice).
Telltale Signs
The investor will rarely use a real name and never supply a contact phone number. You will never be able to reach the accomplice (attorney or otherwise) to speak with them in person. If you do receive the payment it will always be a check drawn on a bogus account, from a fictitious branch of the bank. The bank may be real (in these cases it was Wachovia and SunTrust. But the contact on the check or the bank will never be real.
Avoiding the Scam
Obviously, the easiest way to avoid this scam is to make sure you request a Cashiers Check (which I did not receive in either case). Also NEVER pay anyone from the check until it clears and the funds are in your bank.
Variation of this Scam.
Another variation is the investor asking for your account information to do a wire transfer of funds into your account. This will really have to be your call. I've heard of many Investors who have no problem transferring funds via wire transfer to complete deals. Bottomline, if you don't trust the Investor you're doing business with, then don't do business with them. Build a genuine relationship!
In many cases these guys are not just out of state but out of the country. From what I'm being told these scams proliferate when the market is slow and investors are willing to go out on a limb to get new investors.While there are many great deals to be done out of state and I'm sure out of country, you need to be wise and use good judgment upfront. By doing so, you'll build your confidence, eliminate fear, and execute more deals whether local or out of state! Personally, I love out of state deals!
This is not legal advice, it's simply information that was passed onto me and I threw in a little bit of my own opinion.
If you're in control of a deal, then remain in control at all times and make it happen!
-Lamar
Well, I hope my latest news letter was informative for you and I encourage you to take advantage of the opportunites above. Watch out for stupid scams and shady investors and keep moving forward. If you haven't done your first deal, then 2008 is your year to make it happen!
Enjoy your weekend!
To your success,
J.Lamar Ferren
New Breed Real Estate Investor
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