Free Real Estate Teleseminar with Linda and Nyrick Huuskonen – 03/22
– March 22, 2010 – (RealEstateRama) —
Free Teleseminar with Linda and Nyrick Huuskonen
Monday, March 22. 8:00 – 8:45pm
Register at: http://www.ctreia.com/events.php#event_249
Be sure to check your email after registering. We’ll email you the phone number and pin access code for this Webinar.
Linda and Nyrick would like to thank you for the opportunity to share our approach to real estate investing with your members. We get a great deal of satisfation from sharing our experiences with others and helping them avoid many of the pitfalls that we have experienced first hand.
After hearing us teach, Tom attended one of our weekend classes. This class is the same class that we will be teaching to CTREIA on March 27th and 28th. At that time, he owned 5 rental properties in Massachusetts and was extremely frustrated because most months he had to support his properties with outside sources of cash. He had bought them using conventional financing and his model required that everything function perfectly in order for the properties to cash flow. Unfortunately, given the current economy, he found that he was having a difficult time collecting rents on time and in many cases going through the eviction process. These two factors resulted in negative cash flow.
In November of last year, Tom went on the road to Pennsylvania with us and he bought 2 bank owned houses.
One of the houses was 506 E.Division Street. It is a 4 bedroom 1 and 1/2 bath that need very little work. We negotiated a purchase price of $9,250.00 and the rehab cost was $3,817.00. The after repair value of this house is $57,000.00. This means that he has created over a 400% return on his cash immediately. Tom has now rented the property for $600.00 per month with the tenant paying all utilities including water and sewer. If Tom has 6 months of vacancy, he will still make over a 20% return from cash flow on his investment.
Tom is so excited from this new approach to investing that he is joining us for our Tax Sale Road Trip next month. He is one of a number of students that have come on REO road trips with us, bought properties and then joined us on road trips to other markets or to the tax sale. The reason they want to pay to learn these new markets is simple. They made more money on their first deals than they spent on the education.
After we spoke at the CT REIA Monthly Meeting last night, more members had questions than we had time to speak to. As a result, we are going to offer a free teleseminar on Monday March 22nd at 8pm. It will be a forum where were will be able to answer any questions that folks have.
We are looking forward to teaching you, in great detail, our approach to investing on March 27th and 28th. The cost of $595.00 is for 2 people, not one. For those who are interested in going on our Tax Sale Road Trip in April, it is important to know that the weekend class is a pre requisite to going on the Road Trip. The students must have the educational foundation from the weekend so that we can hit the ground running when we get to Pennsylvania.
Thank you again for allowing us the opportunity to bring our story to your members.
