What You’ll Discover in Ron Legrand Work For Equity
Ok, which one is better? Let’s take a moment. That’s right; I made 50% more money by not doing the rehab…..
Format File: [18 (MP3) + 1 Workbooks (PDF) + 19 Documents (PDF) & ..File Size: 832,3 MB
Ron Legrand – Work For Equity
It was 1989, and I’d been buying and selling houses for over seven years and completed several hundred deals. All were either wholesale flipping or rehabs I’d done and sold to owner occupants.
It was three years since the 1986 tax law changes that turned the realty world upside down and caused chaos in the industry. The economy wasn’t great, interest rates were high, and real estate was getting slaughtered in the news.
I’d just closed on the purchase of a house on Prospect St. on the westside of Jacksonville, FL, my home town.
The after-The total value of the property was approximately $80,000 after $10,000 worth of repairs. I borrowed $40,000 from one of my private lenders to cover my $20,000 purchase price, repairs and closing costs and brought home about $9,000 for other use…i.e., my personal account.
My intent was to rehab the house just as I’d done a couple of hundred times prior.
It was just another deal. I had the crews in place, I knew the business and I had the crews. Little did I know this ugly little house would soon become a game changer for years to come and create a whole new exit strategy I’d use many times.
That day, I had someone put a sign in the front yard that said…
For Renovation Underway and Sale by the Owner
We received a call the next day from a man who wanted to speak with the owner. I accepted it and learned that he worked at a construction firm.
He told me he could do the work himself and buy his own materials and asked how much I’d discount the house if he did.
I was taken by surprise when he appeared to be speaking English. “I don’t know. What you would pay?” His answer…”$75,000.”
I knew right away that we were onto something and eventually leased the house to him at $600 per month rent with a $1,000 nonrefundable deposit.
After he had completed the work and cleaned up his credit history, we were able to get him financed using an FHA loan. Work For Equity Program was born. What’s the big deal you say?
Well, let’s take a look at the facts that slowly occurred to me, and you’ll see the big deal.
He paid $10,000 to fix the house so that I could keep the $10,000.
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He was responsible for all the repairs before, during and after. That means I hired no contractor, had no costly renovation delays and didn’t get any calls after the sale to fix something I thought was fixed.
I bought the house at 95% its price.-It can be repaired without any modifications.
I didn’t have to deal with finding and getting picky buyers qualified for a loan.
I received rent from a house in need of repairs. Enough to pay my interest, taxes, and insurance.
I knew if he moved out, I’d be no worse off than when I put him in the house, even if he didn’t do the repairs.
Next, I sat down to compare what I had made on this. Work For Equity Deal compared to standard rehab deals. It looked like this…
Rehab Deal Work For Equity
Sale price $80,000 $75,000
Rent collected $0 $4,200
Purchase $20,000 $20,000
Repairs $10,000 $0
Sales cost $8,000 $4,000
Interest (12%) $2,400 (6 months) $2,800 (7 months)
Cost of holding (Taxes and Ins, Maintenance) – approximately. $300 mo) $1,800 (6 months) $2,100 (7 months)
Net $37,800 $50,300
Tenant buyer made all repairs using his own money.
I didn’t have to pay any marketing costs and my seller concession on closing cost was much lower than what it would cost to get a buyer to close with new financing. Also, the buyer still has some time to raise cash and apply for costs.
Ok, which one is better? Let’s take a moment. That’s right; I made 50% more money by not doing the rehab. Amazing, huh? Yes, I was stunned. However, I found a new exit strategy that none the gurus had told me about. I went on to complete dozens of these deals.
It is still in use today, 30+ years later.
Recently, I taped an all-star interview.-day seminar on Work For Equity For the first time in my life, I applied all that I had learned over the past 30 years. Work For Equity deal.
Now you have the opportunity to gain my 30 years of experience in fine detail for a small sum of money. This will be repaid with the first monthly payment that you won’t make on vacant rehabs waiting for a contractor or buyer to qualify.
Here’s what I covered:
Which houses are the best choices and which are the best buyers? If you get either wrong, working for equity won’t work.
Your after-Your net income can be increased by 20% by incorporating tax profits Work For Equity You will always lose in rehab.
How to borrow private capital correctly to ensure you have no monthly payments, at least $10,000 cash surplus the day you buy, and how to avoid dangerous traps that investors fall into because they lack experience. I have yours.
Why should you work for equity?-to deals you find that need work and you don’t have the cash to fix.
You should do the following in order to prepare a secondary plan within 30 days. In some cases, you might need to take additional steps to secure a buyer.
How I use work for equity to sell to investors even condemned houses and make three times what you’ll make on a wholesale deal.
We will discuss in detail how to lease option a sale with owner finance.
How to find the truth, after-repaired value in today’s market so you’ll know what to pay and what to sell for. You’ll get my formula to set your sales price to get maximum profit and not kill the sale.
How to quickly build a large work for equity buyers list so that you have multiple buyers before you find the right house.
Complete System
You’ll get the new forms to use on the countertop in the house, the sales letter to sell work for equity, a Q&A form for the buyer and step-By-Step-by-step instructions on how to locate and pre-screen your prospects.
A checklist for your meeting with prospective buyers so you don’t forget anything.
My special down payment assistance agreement and my work for equity option agreement will help you get more money than the rent. Don’t even think about putting a tenant buyer in a house needing work without this agreement. It can be expensive. You think I know all this? FYI, this agreement alone cost me $6,000 to get prepared and is worth far more than you’ll pay For my entire Work for Equity System.
Setting the time to complete the repairs, the repair list and agreement, how to monitor without personal visits, how to get paid to inspect and what to do if repairs aren’t done on time.
How to process multiple buyers simultaneously with a deposit from each of them without taking the house off-the-market
It took me 15 years to stumble on this special form, and I wish I’d known about it earlier. You never want to sign a sales agreement to tie up your house until you’re about ready to close. You’ll learn why in my system.
How to clean up bad credit so that your buyer is eligible for repairs. It will be done for you, and you’ll get paid to provide this valuable service to your client. It works for you too. If your credit needs work, you’ll hear from the guy who can fix it, including foreclosures, bankruptcies, judgments, late payments, IRS liens and anything else.
How to make sure your buyer gets new financing and what has to be done along the way and why you’d better have a system or it’ll never get done.
How to buy materials in certain cases to flood your system with buyers. Why you will make more if it is done correctly
How to run your business so you win no matter what your buyer does even if they don’t buy or rehab the house. Through 25 years of equity work, I have learned all the tricks and saved many years of frustration.
Download immediately Ron Legrand – Work For Equity
When you really get my point, Work For Equity system, you’ll likely never want to do another rehab. Frankly, it just doesn’t make mathematical sense. It’s possible to wonder where your cash flow is coming from, if it took seven month for the money to be cashed out.
But Ron, Where’s My Cash Flow?
Here’s the answer:
$10,000 from the private loan and $10,000 saved for repairs. I will use the $10,000 after the buyer has finished fixing the house.
A few days later, the buyer received $1,000.
For seven months, $600 per month
Before I cashed out, my cash flow was $21,600. Cash out and get $28,700 more. As you can see, you won’t starve while you’re waiting to get cashed out. Imagine if you had 10!-This process involved 20 deals with tenants. For every rehab job, you can do five.
This means that there are more deals and less work. There are no contractors, no expensive delays, no holding fees not paid by the tenant buyer, checks delayed by slow lenders, and no haggling about the price.
It’s all in my system, and you can have it in hard copy CDs and manual shipped to your door.
You’ll receive the CDs and manual for $997, and it’s a steal at that. You will get back your initial deal’s holding costs, as well as the cost of repairs and closing costs.
In fact, one month’s rent you’ll collect on Work For Equity that you’d never collect on a rehab just paid for my system.
It seems like an easy choice to me. It’s a good idea to order it right away. This will change your offer and alert you to some of the current traps that are being created by this recession.
Ron Legrand – Work For Equity: Sample
Here’s what you’ll get in Ron Legrand – Work For Equity
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