I was at a Mastermind with my members this Saturday but instead of a hotel room we were all hanging out with Kelly Thompson who is also an Ijlal Inner Circle member from West Side of Detroit. She works for Chrysler-UAW, has done her first flip already (first check to her was $27,239.91 NET) and now she is on to flip #2.

Kelly's flip #2 is at West Side of Detroit, 4 Bedroom, brick colonial, 1400 square feet, bought for $27,000; rehab $20,000; after repair value $110,000 conservatively (comps are around $125,000 but we are taking the lower end and you should too).

The entire deal was financed 100% OPM, no money out of her personal account. She has a plan and enough money in the deal ($63,000 in equity) to “Mack this foreclosure out”.

If you like what you do – money is easy. Her enthusiasm for this business just leaps from the screen. I had a great time hanging out with my members this Saturday. Just an entire day of evaluating her deals, we went to four bank foreclosures – one she bought; one she skipped (you should learn what “not” to buy also), one she has an offer on right now and we have our fingers crossed – hand lunch together and spent an entire Saturday, surrounded by funny, smart, driven Michigan real estate investors which form my Inner Circle.
(Click PLAY to start the video. Turn the volume up to get all the information.)