Tony Makes Money Over and Over

Tony purchased his first property through REIF in March of 2009.

Tony purchased a single family residence in Redmond for $284,401. Because of an IRS lien against the former owner, Tony had to wait 120 days for the lien to fall off before re-listing the house for sale. Since Tony paid cash for the property, the additional holding costs were minimal. The property sold in 19 days on the market for $10,000 over the list price and a $57,444 profit.

Even though his first purchase was hugely successful, Tony waited two years before purchasing another property at foreclosure auction. On May 6th 2011 he purchased a single family residence in Lynnwood, WA. The property sold in 5 days after being listed for more than the list price and a net profit of $30,643.

About three weeks after purchasing the Lynnwood property, he purchased a downtown Seattle condominium. The property sold in 6 days after being listed for a $50,074 profit.

He also purchased a single family residence in Marysville he plans to hold as a rental property in Fall 2011. Purchase price was $155,108.51. Current market value is $220,000. That is a built-in instant profit of 29.5%.

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