1. FortuneBuilders Mastery
Presenter Info:
Nate Stull
RESU Homes
20951 Van Antwerp, Harper Woods, MI
28524 Pickford, Livonia, MI
17664 Winston, Detroit, MI

2. Deal #1 Overview Sale Price: Purchase Price: Access Cost:
Closing Cost:
Total Profit:
Completion Time:
$9,000
$3,000
$40.16
$75.50
$5,884.34
4 Months

3. Marketing - How We Found Deal #1
Found the property from internet lead source, zBuyer
House was owned by resident’s son-in-law.
Son-in-law of lived out of state.
We have found that those who post in the “comments” section are more motivated.

4. Deal #1 Acquisition – Seller Negotiations
Seller was motivated – mother-in-law was a hoarder and no family members had been in home for 20 years.
Basement had been flooded, roof leaked, there were some foundation issues, and the yard was extremely overgrown.
Made offer of $12,500.
Potential buyers would only give me price of $7,000 - $10,000.
Seller would not come down on price. Terminated contract under contingency clause.
But there is more

5. Deal #1 Pictures…

6. Charitable Deduction – How We Revived Deal #1
We had recently purchased a separate property from our church that had been donated by an out of state owner.
Contacted Seller and explained how a donor had recently received a charitable deduction when he had donated a house to our church.
Seller had a large amount of W-2 income and was excited about the potential of a charitable deduction that would reduce his income taxes by approximately $19,000.
This deduction would give the Seller $6,500 more than my initial offer.

7. Purchase from Charity & Sale to Investor
After the property was donated to the church, we purchased the property from the church.
Went pack to the investors who had given us offers ranging from $7,000 to $10,000.
Investor with the $10,000 offer had moved on to another project.
Advertised property on Craigslist and received a cash offer for $8,000 which we negotiated up to $9,000 .

8. Deal #2 Overview Sale Price: Purchase Price: 1st Closing Cost:
2nd Closing Cost:
Total Profit:
Completion Time:
$29,500
$21,000
$1,199.20
$1,593.50
$5,707.30
10 Months

9. Marketing - How We Found Deal #2
Found the property from Craigslist “Looking for Housing Ad”
Ad poster was looking for a land contract deal.
Started dialoguing and found out Seller had a water damaged house that was underwater (worth substantially less then mortgages).
We ended up selling a house on land contract to Seller while short sale for this property was being negotiated.

10. Deal #2 Pictures…

11. Deal #2 Acquisition & Sale
Seller was motivated – had not made payments for 3 months and was afraid he was facing foreclosure
Insurance had not been paid, so could not make a claim when the water damage occurred,
Signed a contract for $21,000 and handed over to real estate agent and his team to negotiate the short sale and find a buyer.
After 10 months of negotiation with 1st and 2nd mortgagees, cash buyer secured and closed by title company with a double closing.

12. Deal #3 Overview (the 1 hour deal)
Sale Price:
Purchase Price:
Spread from property taxes:
Total Profit:
Completion Time:
$13,500
$11,500
$351.18
$2,351.18
20 Days

13. Marketing - How We Found Deal #3
Networking with probate attorneys
Received a call from an attorney about an estate/trust property that had not sold for over 15 months.
I had met with this attorney for lunch a couple times.
Attorney had already seen my simplified purchase agreement.
Attorney recommend the Trustee speak with me.

14. Sale – How We Sold Deal #3
Had been advertising our properties on Craigslist.
As calls came in, we added buyers to database and stayed in contact with s and phone calls when we had new deals.
On way to pick up signed contract from Seller, received call from my Alaskan Buyer who had come into town. The Buyer met me at the house.
1 hour after getting signed contract from Seller, we had a signed assignment contract from Buyer with a non-refundable $500 cash deposit.
Closed at the title company 20 days later.

15. Questions? Presenter Info: 20951 Van Antwerp, Harper Woods, MI
Nate Stull
RESU Homes
20951 Van Antwerp, Harper Woods, MI
28524 Pickford, Livonia, MI
17664 Winston, Detroit, MI