So, what's a new strategy that current investors are using to acquire properties in this hot market, what's going on team, it's ricky with techweb solutions. I have nick palladino here and we have a crazy story for you on how we actually had this property pretty much under contract to sell before we actually even finish the renovations. But first i want to talk about how we found this deal. I want to give a huge shout out to ramiro he's actually one of the followers that we had on instagram and now we're very grateful for it he's part of our flipping team.

He messaged me on instagram sent me this deal that he was able to get under contract and we are paying him 10 of our net profits, which is 24 000. So that means that he earned 2400 just by sending us the deal we paid for everything we take care of the renovations, just as a finder's fee, he's able to oversee the entire project if he wants to, and then on top of that he gets 10 of The net proceeds i'm going to have my business partner nick paladino break down this house flood. What's up guys um, so this property was actually on the lower end of the general phoenix area. It's a two bedroom two bathroom condo here in the central phoenix area.

It's really centrally located and we actually picked this property up from ramiro on the mls he scalped the mls for this deal for 237. Our exit strategy on this was to list this property for 295 000, and one thing about this property. That's really interesting is like ricky said we had it under contract before we even started renovations, so we ended up spending 25 000. Renovating this entire property.

We actually removed the wall in the kitchen, there's going to be a photo of this on the screen. Right now of what it looked like before, we did all new flooring. We did paint one really cool thing about condos. Is we don't really have any exterior maintenance whatsoever? We have no landscaping, no exterior paint, so that saves us money right there.

We ended up redoing. The entire bathrooms we got some granite countertops in the kitchen, touched everything up with some nice hardware and we ended up getting this property sold for three hundred thousand dollars about three to four days after we actually locked this property up. So it's one of our fastest moving projects because we already had it under contract. We were already in escrow while we were doing the renovations on this property with an end buyer in mind.

So that's really really nice and we're walking away from this property with a total profit of just over 24 000 and one of the crazy things that i want to share with you is, you know. Like we've said, we like to share both our successes and failures and we're relatively pretty new when it comes down to householding. So one of the things that we really liked about this is that this is a different approach right. We have had this happen once before, and we've noticed that it's becoming more of a habit that investors or people that are simply avid followers, will reach out to us and would agree to actually buy the property before we actually finish the renovations or even get to Post it publicly now i want to talk about some of the pros and cons and you guys can share your opinions down in the comments section, i'm going to start off with some of the cons.

What if we could enter a bidding war and then potentially accept or get an offer above the 300 or the desire? 295 000. 100. That is obviously a concern, as our job is to try to maximize our profit and that profit is determined by what we actually end up, locking it up for uh when it comes down to the sell price, and i would have to say that one of the Biggest incentives of accepting an offer before even any of the renovation was complete is that normally, when we have the property finished and if we were to accept an offer at 300 or 305 thousand dollars, it can take 45 to 60 days with traditional funding. To you know actually close on the property even after the renovations are done so like selling.

It is one thing and getting it under contract for a sell, but then, on top of that, it's the 45 to 60 days that the lender needs to make sure that they can follow through with the overall funding. With this specific deal, we're able to start that process much sooner so as we're remodeling the property. Then again that is, i would say, a huge incentive. Where yeah, we could potentially make an additional five, maybe ten thousand dollars, but instead of the five or ten thousand dollars, we get our money back, potentially 45 60 days quicker, which will then allow us to be able to use those resources, uh and those funds onto Another property, any question for all the real estate investors that follow us.

Is this something that you're experiencing yourself, where you have either the potential sellers getting offers even before they're posted publicly? This is something that i thought was rather unique that i wanted to share with all of you guys, as you know, as we continue to progress in this market, it's it's so interesting to see how other real estate investors are kind of like trying to be creative In the way that they acquire properties - and i just thought that that would be an interesting thing for you guys to be aware of yeah - that was pretty much it. I mean we finished cleaning this property last week and we are closing on it this week, so that timeline of what ricky said could be 45 days in escrow is basically just shrunk down to seven days and it is our fastest moving project we've ever had and A really cool thing about this is we actually are gon na roll this money over into our deal next week. So i'm really glad that we're able to utilize this strategy and make it work for us. So, thank you guys again so much for watching and for everyone.

That's just getting started. Then we we buy all of our deals cash. So if you are someone that has ever wanted to get started in real estate, but maybe don't have all the capital, send us a message right now, so the link's down below it's going to be my instagram. It's going to be nick's, instagram, send nick a message and if you're someone, that's really good at finding deals, if you know of someone, that's interested in selling a property like we said this specific property was purchased through someone that messaged me on instagram rodrigo and he Made 10 of our net profits and did not have to fund anything so we'd love to pay you a finder's fee, we'd love to pay! You a commission, send us your deal and again that's gon na be the first and second link in the description.

We really do appreciate your guys time make sure that you guys subscribe to the youtube channel and, like always, let's make sure that we end the year on a green now. Take a digi team.