Net Profit: $400,000, $250,000 was TAX FREE!
This is one of Dan’s early deals (Dan is one of the co-founders of the Matrix). He bought this South Mountain property, which initially had a house on it, for $150,000. In 2006 he sold the property for $550,000.
The opportunity for this deal came from the unusual housing market at the time. 2006 was the peak of the housing bubble. However, it demonstrates two major points: one, Dan was smart enough to sell at a time when the market indicated he should sell and when everyone else was buying. Two, all real estate investing produces a profit when you can buy low and sell high. The market always determines the price at which a property can sell. Matrix Investor Network teaches students how to read the market, how to estimate the After Repair Value (ARV) of subject properties and how to find wholesale properties at below-market prices.
Here is a list of more deals that Dan and his partners have done since the South Mountain property:
| 2928 E Atlanta Way 2015 W Chambers Road 2601 E Wood Street 2554 E Wier Avenue 5949 W Heatherbrae Drive 3811 W Portland Street 1846 N Chipman Road 1111 W La Salle Street 2830 W Almeria Road 1005 E Chipman Road 5949 W Mulberry Drive |
12302 Calle Hermosa 728 E Laredo Street 1635 W Roosevelt Street 5201 S 12th Ave 3640 W Melvin 2905 W Madison Street 3617 W Broadway Road 6806 N 59th Drive 4422 S 4th Street 1406 S 12th Ave 2817 W Montecito Ave |
1025 N 27th Place 6744 N 23rd Drive 10049 W Crown King Road 4301 N 27th Place 3112 N 58th Ave 2322 W San Miguel Ave 8236 W Catalina Drive 3522 E Polk Street 3629 W McKinley Street 7003 W Hubbell Street 7953 W Hazelwood Street |
. . . and many others – over 150 in the last three years. After getting these properties under contract some where wholesaled to other investors and we did the rehab on others.