Another great result for one of my investors.

My Investor Buys for $118,500.
My Investor Sells for $184,900.

Gross Profit of $66,400, Net Profit Est. at $30,000!

Are you down with OPM? Yeah you know me. Sorry, that doesn’t rhyme at all, but I got a great email from some investors about using Other Peoples Money. One of the keys to what we do, is to use very little of our own money, and get it back quickly along with a profit. And as seen here, if you can use someone else’s money to lower your initial investment, all the better.

“When we first incorporated we went to National City in search of business loans and/or lines of credit. They offered us a signature line of credit which gave us an instant $40,000. The money was accessible via direct transfer to our business checking, credit card, or checks. All we had to do was personally guarantee it (at the time there were three of us in the company). After a year we called and asked them to bump it to $50,000 (the max they could go before SBA involvement). It wasn’t a problem.

“We used the money to fund down-payments on property, pay for the rehab costs, and all of the holding costs. After the work is complete we cash out refinance and pay the line back down to zero. We have now purchased six houses with only a few hundred dollars investment per person (it could have been much less). The rate on the line is adjustable and currently sits at prime +2% (11.25% as of July 2007). Although this may not be the best interest rate, it got us going. Another benefit of using 100% of the bank’s money is the decreased amount of mental stress that typically accompanies investing. We still had to be smart and manage our money and investments well, but I believe it has made our real estate investing much easier.

Trigon Real Estate, LLC

As our resale market remains slow (Not as slow as 2006 in my opinion, but slower than 2005 for sure), there are always new opportunities that arise, and adjustments that we have to make. From time to time, I will place an ad in the paper to gauge the rental market traffic. A single 2-week ad generated over 70 phone calls for us. A number of these people may not qualify for our program, however this experience leads me to believe that the Rental Market is still very hot.As most tenants do not have computers, Beth has developed a new Rental Information Line 630-906-7559.

This line will be used for tenants (and their friends and families):

1. To call in and get information on our available units

2. Schedule showings with Beth and her Team (She has added 2 leasing agents in order to accommodate increased demand)

3. Handle any move-in issues that come up

Investors can still reach her on her direct line 630-849-6242, however going forward we will be using the Rental Line for our advertisements in the local papers. Our goal is to help our investors create wealth through real estate, which requires us to be dynamic. Beth has taken some major steps to accommodate our growing leasing business for us, by adding the needed staff. We are committed to maintaining superior service for our investors.

The eviction process is never enjoyable, but it can be facilitated by an attorney. The following attorneys have experience with evictions and are taking on more of that type of business. It’s VERY difficult to find attorneys who will actually do evictions, because the process is not a real money maker for them. We were given these 2 contacts as resources. For the occasions where an eviction is needed, here are some names:

Jim Jensen
630-892-5640
Kane County
Kendall County
Dupage County

Bob Wisniwski
815-722-4677
Will County

Dekalb County Evictions are fairly simple. Call our office if help is needed.