Great Deal Alert! 7 units in Prime Echo Park – $2.3m

Question: How would you like to make a cool million dollars in less than a year for a cash outlay of less than $500,000? Sound too good to be true. I will admit that when one hears someone say something like that it usually is too good to be true, unless one is being very perceptive and sees opportunity where few others do.

Once again, as I was mentioning last week, the answer lies in TIC. Look, let’s acknowledge that, right now, in this current market we are in, opportunities to either profitably ‘flip’ something or, in the case of multi-family, to acquire/create something that cash flows, is a great rarity. Almost impossible. So, what’s the answer???? TIC.

For example, this particular 7 unit is being offered for a good price, relatively speaking. However, even with that being true, one just barely comes out ‘break even’ as far as cash flow. But, this is 7 fully renovated detached bungalows in a very desirable location. Granted, there is no off street parking. But, even with that being so, THERE IS ABSOLUTELY NO WAY these sell as TICs for less than $500,000 a piece, parking or no parking. It is simply not possible that they sell for less. More, maybe. But not less. So, of course 7 times $500,000 adds up to $3.5mm. Deduct closing costs and deduct the $2.3mm you paid for the property and this puts you just slightly under $1mm profit.

Don’t know much about TIC? Want to know how it works and how you could execute the above game-plan? Well, I have been spending a good deal of time recently educating myself and familiarizing myself with this model. So, give me a call and let’s talk it over and I will help you make a million dollars.