A Happy Angela

"Aloha Bill, I don't know if you remember me but I asked you some advice on a Maui property - 6 unit hotel property! I am patiently awaiting my closing (April 4th). I am so excited...I just wanted to say thanks so much! This was really fun and I think I have finally found my calling (I am 41). It was scary doing this big deal for the first one but I had to go for it, because it sort of fell in my lap. Now I will look for some more! Thanks again!!!"

                                                                                                       Angela Raymond, Los Angeles CA

Tiki Archambeau Writes Us TWICE

His first letter

My name is Tiki. I subscribed to "Simple Man's Guide to Real Estate" about 4 ½ years ago while I was living in Massachusetts. Since receiving your material (and after lots of delaying for fear of the unknown), I ended up purchasing a "fixer upper" in Lowell, MA and sold it for $40,000 profit after owning it for only 15 months. I got out of MA and moved to Vermont where I dedicated the funds to a nice duplex in Burlington where I live now with my fiancé. We bought this place under market value (AKA instant equity), with enough cash at closing to show we were "serious", have tenants who pay our mortgage, and were able to take a trip around the country.

I place a lot of value on the material I bought from you and have lugged it around the country with me to keep my mind clear on real estate concepts. It has inspired me to the point where I am now comfortable financially with the will to build a "nest egg" of properties in order to gain financial independence from the job. I thank you for opening the doors to this exciting "new" hobby for me!"

                                                                                                           

Tiki Archambeau, Burlington VT

His second letter

Hi there! Tiki Archambeau here. I'm the one listed first in your "Testimonials" section of your website. It has been a while since I have contacted you guys so I am hoping you remember me.
As to life in general, here's my latest update: I now live in a modest single-family home only 5 blocks from the heart of downtown. I own 2 other duplexes also close to downtown and recently bought a 4-unit on Cape Cod (MA), bringing my total number of apartment units to 8 - a very modest yet manageable number.
In terms of assets, my current net worth in terms of property market value is $1,280,000.
Our current home sits next door to one of our duplexes. From the moment I bought that duplex, I started mowing the greenbelt in front of my neighbor's home. This became especially important as the new owner moved in as he did not own a lawnmower. Before long, he was borrowing mine to do his small lawn. We established a relationship in which I told him I'd be interested in buying if he was selling. In a matter of a year - after he made loads of renovations - he was having financial troubles and wanted out quick. I was there to cushion his fall and allowed him to close at his convenience for about $30,000 under market value.
Now I own two adjacent city lots only 5 blocks from downtown. It is now possible for me to now look into developing new condo units on the footprint of the two lots in this low-vacancy city and walk away with the proceeds.
That's all for now. Hope all is well!

                                                                              Tiki Archambeau Burlington VT

Master Sgt Sanders Writes Twice

His first letter

"Sir, I wanted to email you today to provide you some input on your program and my last deals and to ask for any updates you have made since I purchased the program.
Deal 1 - Purchased a 98 yr old, 2 bdr /1 bth home, 1400 sq ft, with an unfinished attic. Bought it in foreclosure for $22K, put an additional $20K in the property cosmetic updates and added an additional 1200 sq ft in the attic with an extra full bathroom. Sold it for $79.9K !!! Not bad for 10 months of work !!
Deal 2 - Purchased a 2900 sqft, 4 bd/3ba home on 3 acres for $105K, it appraised at $148K at signing from an estate sale. Minor updates/cosmetics ($40K worth) and it just appraised for $221K
Deal 3 - Small 700 sqft, 1 bd/1 ba with a fenced yard and full basement, just signed the lease/option for $19K @ $170 per month (appraised at $28K) - a little remodeling and enclosing the front porch, making the living room into an additional bedroom then finishing the basement into a rec room with a utility room in the corner. Expecting the new appraisal to come in around $39K; and already having some interest in the home."

                                                                                MSgt David Sanders, Indiana Air Guard


His second letter

"Hey Chuck and Bill, wanted to give you guys an update from my last letter I sent a last year.

Deal 3 in my previous letter actually appraised at $66k NOT $39K!!! If your gonna miss calculate your profits, it's always best to miss on the low side!

Deal 4 - purchased a 2bd/1ba HUD repo for $23.5k, changed the locks, cleaned the place up a little and had renters in within one week of closing. Cash Flowing $150 + per month after expenses and debt service. Prior to closing, it appraised for $50k even!!!!!

Currently working on

Deal 5 - probate home from surviving children, 3bd/1ba house by small 2 yr college in town. Last appraisal was for $48.5k, should get it for around $19 or 20k!

Deal 6 - Bank repo 3bd/1ba home, valued at around $55k, negotiating and should complete purchase in the low $20s

Deal 7 - Bank repo 3bd/1ba home, valued at around $49k, again should come in for low $20s.

I have also started a website for our rental company and use it to move the houses we move to our Tenant/Buyers.

Thanks for your great book and information, if you have any updates for the CD please let me know."

Dave

                                                                                                  MSgt David Sanders,Indiana Air Guard