OfflineI had 2 handymen lined up to look at the house I have under contract. One was supposed to be there at 3:00 and the 2nd one at 4:00. Another was supposed to call and let me know if and when he could come today. Well I was there at 3:00 and opened the door and waited... and waited...and waited. At 3:30, I left and went to Wally World (which was just a couple blocks away)just to cool off. Then I went back at 3:55 and waited.. and waited.. and waited.. and the 2nd guy didn't show up. I had forgot to bring my notes with their phone numbers so I couldn't call either of them.. Neither of them bothered to call me!! The third guy called and said he was on a roof and would not be able to come today but maybe tomorrow.. He'll call.
But not all was lost while I waited. I took the classified section of the newspaper which I had not had time to look at before and I called a FSBO in a neighboring town while I perspired. I found out the owner inherited the house and it had been listed for 6 months, then her son moved into it and lived there a year and now it's been empty another year. I asked her why she was selling initially (before she told me all this) and she said they didn't need 2 houses. Bingo.. she's motivated. She said they had kept the power on the whole time to keep it maintained. She said it needed a little updating but was very livable. It's a 3/2 brick ranch and they are asking $86,900. She said to look at it and make an offer when I asked her what she would take if I could pay cash and close quickly...another clue she's motivated. I'll be going to look at it tomorrow afternoon.
YAAA.... not too bad a day after all!!
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
A day turns out does not really matter in a way because you are doing things that have to do with real estate investing, learning as you go. Time is lost in one way but in the other it is time and knowledge gained as well. There are days when I just say hey I know I need to do something but nothing ever gets done at all. Even if just a little bit is done but you think there was nothing accomplished, maybe there was.
Shawn
I shall fear no evil from any one as I walk through the valley of real estate investing. Leading, setting examples, and taking it one step at a time.
This sounds like a fabulous lead!!!!
Have you checked the comps on the property to see what the ARV is? How did she come up with her asking price?
Have you thought about what your exit strategy will be?
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Contractors are always either working or chasing work. Getting a visit or estimate out of them when they're already working 40-70 hours a week is going to be unreasonable at best. They're not going to leave a job midstream to go guesstimate a potential job they may or may not get. On the other hand, that's how these guys GET more work, so you've got to catch them sometime eventually!
Pay close attention when more than 1 thing goes wrong. It's usually a sign that you're being "set up" for some other progress or success. Would you have found out about that deal without those guys standing you up? - Probably, but it may have been sold by then.
Remember, the hardest thing about contractors is getting them away from their current work long enough to hire them. As long as you hire the right one, everything else should be much easier. Remember the Contractor's Creed: "You can have the work done: 1) fast, 2) high quality, or 3) cheap." If he lets you pick any 1 of those 3, get his card. If he lets you pick any 2 of those 3, hire him. If he lets you pick none OR all 3, you're talking to a con artist - RUN!
Paul: "I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when my fear is gone I will turn and face fear's path, and only I will remain."
Duke Leto: "I'll miss the sea, but a person needs new experiences. They jar something deep inside, allowing him to grow. Without change something sleeps inside us, and seldom awakens. The sleeper must awaken." - "Dune."
Pay close attention when more than 1 thing goes wrong. It's usually a sign that you're being "set up" for some other progress or success. Would you have found out about that deal without those guys standing you up? - Probably, but it may have been sold by then.
Remember, the hardest thing about contractors is getting them away from their current work long enough to hire them. As long as you hire the right one, everything else should be much easier. Remember the Contractor's Creed: "You can have the work done: 1) fast, 2) high quality, or 3) cheap." If he lets you pick any 1 of those 3, get his card. If he lets you pick any 2 of those 3, hire him. If he lets you pick none OR all 3, you're talking to a con artist - RUN!
Great quote right there! To rephrase it a little differently: "For every action, there is an equal and opposite reaction."
Sounds like a great lead and I hope it works out for you!
"You deserve to be successful"
Gabriel Do Carmo
www.gdc.usapropertywholesale.com
all was lost, does sound like a good lead. Too bad that even though you had more than one contractor to come look, none of them showed up. Guess you taught us to always have contact information.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Yes, it turned out to be quite productive after all!
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Yes, the comps come in at $75K=$78K and she was asking $86,900. She is the one I talked about on the other forum as wanting to see a sample L/O contract. I offered her $78,300 with $5000 down and $850/month for 12 or 24 months. This was just a sample for her to look at, but it was the actual offer. She said she would look at it and get back with me. She is waiting for her newspaper ad to expire. When she accepts my offer or counters, we'll come to an agreement I'm sure because she wants to be done with it. I ran a ghost ad about it (not giving the address of course) and had several people interested. I just told them that the contract was not complete yet and that I would get back with them. Hopefully she won't sell it by the time the ad expires. (Was that a mean thing to say?) haha.. She is definitely leaning toward the L/O if it doesn't sell soon.
Shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Thanks Gabriel, hopefully it will!!
Keith, yeah the contractors have a way of pulling one over on you if you don't watch out. But even though neither of them will get this job (or they might), I have sent them referrals from my REI group where people are looking for handymen, carpenters, etc. So if I keep sending them leads, maybe they'll keep giving me estimates for free!
(You scratch my back and I'll scratch yours.)
Shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Thanks Gabriel, hopefully it will!!
Keith, yeah the contractors have a way of pulling one over on you if you don't watch out. But even though neither of them will get this job (or they might), I have sent them referrals from my REI group where people are looking for handymen, carpenters, etc. So if I keep sending them leads, maybe they'll keep giving me estimates for free!
(You scratch my back and I'll scratch yours.)
Shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Yes, always take your notes!
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.