Manage episode 378333921 series 2994043
FF 63 - Deal Case Study - Off Market Lake Cabin
On today’s Friday Focus episode, we are joined by a member of the Instant Investor Mastermind community, Drake Johnson, also known as The Drake Johnson on Instagram. He has achieved significant success in real estate over the past year and is known for his deal-making skills, and he wants to share his knowledge with all of you!
In this episode, Drake Johnson shares a deal case study of a single-family residence he acquired through direct mail (our favorite!). The property was an absentee inherited home that had been vacant for seven years. Drake developed rapport with the seller and set clear expectations. After negotiating a price reduction due to unexpected repairs, Drake and his JV partners decided to do a quick flip. They made minor renovations, listed the property, and received multiple offers within a week. The property sold for $269,000, resulting in a gross profit of $100,000! This is the type of ROI that will have you skipping to the bank.
Drake emphasizes the importance of taking calculated risks and building relationships with partners to be able to achieve this sort of success. So if a $100K profit sounds appealing to you, be sure to tune in.
You don’t want to miss this one!
Topics discussed in this episode:
- Building rapport and setting clear expectations with sellers
- How using direct mail generates responsive leads
- Using unexpected repairs to negotiate price reductions
- Properly analyzing the market and property
- The benefits of bringing in partners who provide additional value
Learn how to start your own real estate investing business in the NEW Accelerator program! Sign up for one of 10 spots here: https://www.collectingkeyspodcast.com/launch
If you’re an established investor with money to invest, but not the time, check out the Instant Investor PRO Program! https://www.collectingkeyspodcast.com/store
Check out the NEW Big Dan Energy shirt (and more!) in the Collecting Keys Merch Store: https://store.collectingkeyspodcast.com/
Download the FREE 5-Step Guide To Generating Off Market Leads here: https://www.collectingkeyspodcast.com/free
If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, head to https://www.instantinvestorprogram.com and see if you are a good fit for the mastermind group!
Collecting Keys Podcast Resources:
This episode was produced by Podcast Boutique https://www.podcastboutique.com