$45K Real Estate Deal With Dan and Crystal Mewhorter – Contractor Horror Story

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$45K Real Estate Deal With Dan and Crystal Mewhorter – Contractor Horror Story

Dan and Crystal Mewhorter join Jay Conner to talk about some of their recent real estate successes.

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They have raised over 3.25 million in cash and equity.

Bank owned property. 5 bed, 2 bath, 3500 sq ft, partially renoed.

Buying price: 67k Asking $78K

Rehab: $32k

Final rehab cost: $52

Rent-to-own: $259K

Private Money $100K

Mortgage: $80/month. Rented out at $1700 a month

Profit: Aprox. $45K

Lesson One: Need a good realtor

Lesson Two: Bank had received $11k in earnest money before Dan and Crystal

Lesson Three: Never be in a hurry to get a contractor. Check their insurance. Pay attention to what they are doing. Control your contractor. Check their work.

Lesson Four: Low offers can be approved. Stick to your guns. Lots of deals fall thru. But they do come around again.

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Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal.

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