Bill recently moved his family to Virginia, and here are a few of the deals he made in the first few months, in his spare time and even without knowing anything about the area, and not having any "network" there...(NOTE: Bill rents his properties at 20-30% below market rates for the area, keeping tenants happy)
#1) Purchased this South Hill 3/2 home at $125,000, appraised at $148,000 (instant $23,000 equity). Put nothing into it and currently rented out at $1150/month,
#2) Purchased this Brodnax 4/3 home at $107,000. Put nothing into it and immediately re-sold it for a $12,000 net profit
#3) Purchased this South Hill 5/2 home at $155,000, appraised at $238,000 (instant $83,000 equity), currently rented out at $1450/month
#4) Purchased this Boydton 3/2 home at $62,000, appraised at $72,000 (instant $10,000 equity). Put nothing into it currently renting it out at $650/month
#5) Purchased this South Hill 3/2 home at $60,000, appraised at $69,000 (instant $9,000 equity). Put nothing into it and currently rented out at $650/month
$12,000 cash, $125,000 equity, $3,900/month income