OfflineI got a call on a house in a small town about 50 miles away, I checked it out on Zillow and Google maps. I mailed an offer for 50K
Sellers said they needed 70, I told them on the phone I may be able to come up to 60.
I met them at the house a few days ago with my bird dog/partner that found it. He's also a General Contractor. I gave him instructions to point out all the deficiencies so we can get the price down.
The problem was, the house was in really good condition cept for counter tops and flooring. The after repair value is about 110K
We tried to get it at 55 but sellers wudnt budge. My buyer wants it at 65K
I'm still a little excited about making $2,500 each.
Although a few years ago that seemed like a lot of money.
I've done a bunch of these $2,500 deals and they pay the bills.
On to the next deal.
Rando
Rando
Slight mishap and there goes the profit, if any. At this stage in your investing career, I would raise the minimum so as not to paint myself into a corner. It's not worth the hassle.
P.S. - Everything else is immaterial, irrelevant, and unnecessary.
What I luv about Wholesaling Real Estate is, there is no Risk. If I can't sell it, I have a 21 day inspection period were I can simply walk away. Several times that gave me an opportunity to renegotiate the price down so that I cud make a decent profit.
Rando
I don't have to worry about this deal anymore, seller emailed me this morning to say they decided not to sell bcuz they are keeping it as a rental.
Maybe a little bit of Karma bit me in the kiester. haha
Rando
Sorry that the deal fell through. But, as we all know... it's about the numbers. If you haven't had a deal fall through yet, then you're not really out there investing.
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
Here is a FREE property analyzer I've found:
https://tvallc.infusionsoft.com/go/RehabLite/sroberts/
It's a great tool to use to help analyze your deals (and did I mention it's FREE)! But, you really should spend the $97 and get the full premium edition! IT'S AWESOME!!
you win some you lose some. why bad karma, bc you were trying to get the price down.
Tony
Go faster do more! GFDM!