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The Marty Wewerka Success Story
Meet Marty Wewerka
Originally from Southern California, Marty Wewerka started his real estate career in 1986 by purchasing his first house and investing in several partnered REITs. He moved to Arizona ten years ago and worked as a golf concierge at the Hyatt until Covid forced layoffs.
Marty had some knowledge of buying discounted mortgage notes yet had no idea how a smaller investor like himself could compete with larger institutional investors who had money.
A few months after he was laid off, Marty attended Lee Arnold’s virtual class on Reverse REO and enjoyed his candid approach to investing. ”The course was extremely educational and opened the doors to a whole new strategy for real estate acquisition.” Since that initial introduction, Marty has participated in Lee’s free online Funding Tour, a 4 Deals in 5 Days Facebook Challenge, and several of Lee’s valuable CEO Fireside Events.
Action and Results:
Impressed with what he heard, Marty invested and participated in the ReverseREO class. During the certification training, he negotiated and purchased his first ReverseREO, a defaulted 1st mortgage. The asking price was $145,000, however with some support and assistance from one of Lee Arnold’s trained Business Development Consultants, he successfully negotiated the price down to $135,000. With 75 percent of the purchase price financed through Lee’s ReverseREO third-party lending company, and the other 25% raised through friends and family, Marty was able to purchase the note. Wanting to avoid the rehab portion and attract multiple buyers at auction for the bidding process, Marty set the price slightly lower than the estimated as-is value at $195,000.
The transaction on the property purchased from Marty was closed and sold at auction to a third-party bidder for $222,000. His gross profit was $87,000 before calculating in the 5+ months holding expenses. In 9 months, Marty became educated on the Reverse REO strategy and completed his first deal using what he learned. By doing this, he received a full tuition reimbursement on his education through the Lee Arnold System of Real Estate Investing “Success Deposit” program. Attributing the step-by-step Reverse REO strategy that Lee had taught and his mindset of it’s always better to make a “Fast nickel versus a slow dime,” Marty experienced a large payout from his first Reverse REO deal.
“Covid retired me early, The Lee Arnold System of real estate investment supplemented my retirement income.”
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