OfflineJill & I have just signed another contract today & are closing on Friday. That is one of the nice things about Florida, cash deals close super quick!.
This property was listed on MLS originally for 54,900; it's owned by a landlord tired of tenants, we offered 25K; they then dropped to 49,900; then to 44,900; then to 38,900 ... we still rejected, so they came back with 32K & said it was their final counter. We went back at 27,500 & settled at 28,500. The Power of Negotiating!
Best of all, you can move a tenant right in with no work.
And to think I was going to Tampa tomorrow to check out buying a tanning salon.
Gary/Jill
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Hey guys,
I am getting sent what seem to be Great deals from a few realtors in the Tampa / St. Petersburg area.
Seems like such a bad area... Do you have a realtor you can recommend for that area and possibly
a property management company.
Any help would be appreciated.
Regards,
Marc
Tampa/St Pete area does have many REOs that are priced extremely well. Keep
in mind that the really low priced houses are usually in the hood so it may be more difficult to find end buyers. Investors that buy in that area to rent are usually on top of those great deals. Unfortunately, since Tampa is about 85 miles away we don't deal any of the local agents/brokers & can't recommend anyone.
What are you looking to do, buy & hold,& rent; buy, rehab & flip; & what price range do you want to be in ?
This property was sold to an older gentleman who lives two houses away, he is buying it for his disabled son. He had CDs that did not mature for two months so he went to the bank today for a mortgage. The loan officer called me this afternoon to let me know he was approved ... One Day ! That was music to my ears, off to the next one.
Very inspirational and motivating stuff! How many different methods have you used in your area? Have you done any assignment deals (wholesaling)? I live in South Florida and I want to take the plunge into REI if I can stop myself from finding excuses not to. Once again, congrats and keep it up!
Steve
Unfortunately we have not yet assigned/wholesaled any deals. We buy with cash, flip, or rehab & flip. We have also done a few lease options on our properties. We have flipped vacant land & have also built several "spec" homes. But wholesaling is definitely the way to go.
Do you if many folks are having success wholesaling here in Florida? BTW, buying with cash, rehabbing and then flipping is what I hope I can do someday. That's gotta be a blast. Baby steps first I guess.
Made a bank deposit of the 5K EMD earlier. The buyer said he told his son in England about the house & they both are very excited about the purchase.
This is truly helping people, bringing a father & son together after being apart for over 45 years ... the 84 year old father gets his family with-in two blocks of his home and can live out his life happy.
Now that brings a tear to our eyes, plus we made a few bucks with minimum work.
Man, That touches the Heart!!
DC Terry,Sr.
That was a great story, a good deed and a nice profit! My husband has caught the REI bug yeah! He is actually talking about selling the oil company and doing what you are doing... Finally! I will keep you posted. Thanks for your inspiration...
Barbara
came over this morning while the bank appraiser was there; his daughter was with him & wants us to find her another larger house. Nice to have another prospective buyer in the same family !