I received a phone call tonight from a very motivated seller. Came from my generic probate leads. I don’t have deceased addresses for those. He lives in Georgia. The house is in a town in southwest Denver area. Needs plenty of work from his explanation. The county records are down, but the house was bought in 98 with a 93k mortgage. Assuming he paid on time, the balance would be 78k. I can’t get a good comp on the house and frankly it sits in a crappy spot for home buyers. My guess is 110-150k. Its right next to plumbing company, but it has an 18k lot (1/2 acre).

After reading Nick’s blog www.subject2.com, he has me believing there can be a deal under every rock. There are several potential possibilities with this one. I’ll go look at it after work tomorrow and get a better feel. Who knows, the plumbing company might just want a new back office and more land.

As far as the other probate goes, its on hold till the lady is ready to sell. I’m not holding my breathe for this one. If it happens so be it. I think its kinda tight, but I want to get my feet wet. Attached is my analysis of the deal. I haven’t seen inside the property, so everything is subject to change. Purchase price 85k (trying for 80k or less), 25k repairs, assume 6 month hold. MY hard money lender offers 15% simple interest with 4 points up front.

PropEval SFR Here is my analysis, because I have no idea how to put a spreadsheet in to wordpress so you can see just like you would see it in excel. If anyone knows how, please let me know. Ignore page one and look at page 2. With full respect to JScott over at www.123flip.com , I took his deal analysis sheet and tweaked it for my use. Jason, if your reading this and wish me to take it down, I will. Just let me know. If anyone has any feedback on my analysis, I am all ears.

Ive been driving for dollars the last few days. I need to purchase a voice recorder. Writing and driving is far worse then texting and driving. I found several vacant properties today. I’ll see if I can’t locate the homeowner. I’m starting to like these new areas in Denver I found.

I am planning to just mail probate leads in generic format from now on. My phone call return has been the same, and it saves me 10 hours a week to do so. Thats all my rambling for now.