Alicia Green Victory

 

Alicia Green Victory

MAGRIS, LLC in Winnetka, CA
Alicia Green with Irma Ramirez

Type(s) of Victory: Reached a personal goal, Reached a business goal, Did something on my bucket list


Flipped our first rehab. It had been a goal of mine to flip a property. So I consumed as much information that I could find on the subject and attended webinars. I purchased a deal analyzer and wholesale analyzer online and went to work on finding a distressed property. Now, I live in California, but have multiple rental properties in Central Texas. I knew and was comfortable with the area, and because I had the cash to purchase, rehab and re-sell, I decided to go look at properties on a trip to visit family in Texas. I came across a VA REO property that had been on the market for a few months where the price had been reduced a few times. I had my repair worksheet with me and made note of the repairs needed and asked my realtor for a CMA as well as a net sheet. The moment I was able to get to a computer, I plugged in my numbers in the deal analyzer to crunch the numbers. I knew I did not want to offer more than $85,000. The property was listed for $99,000 by the time I came across it. It was initially listed for $111,000 and I knew I didn’t want to spend more than $20,000 in repairs. Knowing that my initial offer of $80,000 would be countered and I wanted to see what their counter would be, I submitted it. The VA countered at $92,000, I countered their counter back at $85,000 cash with a 7 days inspection period and a closing in 15 days. That was my highest and best offer; I was prepared to walk if it wasn’t accepted. They countered back again at $92,000. I told my agent that what I had offered was my highest and best and that I was going to pass on this property. The next day, I received an email from the VA, that my offer was accepted, yeah! The property was rehabbed, albeit pretty much a “lipstick” job, it was back on the market in 30 days. We received full ask of $165,000.00 and $5,000 towards buyers closing costs. Net proceeds $147,023.77, not too shabby for our first and managing from California. Thanks to a hungry new realtor and an ethical contractor. Could you imagine if I knew then, what I know now, plus the systems, this would have been an even sweeter deal. #CAW P.S.: I have pictures, not seeing where to upload them on this page form



* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use.