ARE YOU THE NEXT PROFITABLEPROPERTY SUCCESS STORY?
Locating Properties
Randy Boehm
One of John Peterson’s passions is to teach investors
multiple strategies to locate distressed property.
One of the most profitable strategies is to work with personal
representatives of estates. After taking the weekend training,
Randy Boehm started his direct mail campaign to personal
representatives of estates by using letters and postcards
to introduce himself and his services to the representatives.
After meeting and negotiating with a personal representative
on an estate property in Gaithersburg, Maryland, Randy decided
to give the lead to ProfitableProperty for a Bird
Dog fee of $5,000.00. After analyzing the numbers and renovation,
Randy had concluded the property made sense to hold as a
long-term rental but was not a candidate to buy, renovate,
and sell.
ProfitableProperty bought and renovated the house
using private investor funds and then refinanced with a local
bank. The property is currently rented on a two-year lease
for $1,350.00 a month. It generates a small positive cash
flow and will qualify for a 1031 tax-free exchange, which
will defer the taxes on the profit. The property was recently
appraised at $240,000.
For ProfitableProperty and Randy Boehm, it was
a win-win situation. In our book, that’s what Bird
Dogging is all about.
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