You can make $55,000 in less than 60 days too! We used to market for real estate deals using bandit signs or We Buy Houses signs near busy intersections in our Panama City, FL market. It was a very effective way to find motivated sellers. For this project, we had another deal under contract to help a lady sell her mom’s old home. Before we even closed on her home, she gave us a great referral to a friend. Her friend was relocating and wanted to know what we could buy her house for. Her house was about 3,500 sqft with a new roof and gorgeous pool. It didnt need any major work and could be listed on MLS immediately. I explained to her that I buy properties at a discount and that her home could easily be sold on the MLS as-is for close to $400k. Three days went by and she called me again for my offer price and I was unprepared and asked for two more days to discuss with my realtor to confirm the value. Two days later, I offered her $305k and she accepted. We spent around $5k in minor updates/repairs and sold it for $385k! $55k profit in less than 60 days! Speed was her most important factor in the transaction and not price. Sometimes you can get in your own way when you make assumptions instead of seeking to fully understand a seller’s situation. Money isn’t always the most important factor in a real estate transaction. If you want to learn how I took this and all my other experiences to scale my real estate portfolio, then join my zoom webinar tonight!
Great lesson on the importance of thoroughly understanding a seller's situation in real estate! Kudos on the profit in such a short time.
I've seen people give homes away for shockingly good bargains... just because they didn't want the headache... Sometimes, its bad memories that motivate people. Sometimes... it's a job transfer... Sometimes, the Seller hate's their former spouse... and wants revenge... There's a HUGE range of reasons people dispose of their assets at great discounts. Congratulations Johnny Lynum I used to love flippin' houses.
So true - so many sellers have other priorities when selling that have nothing to do with price.
Built a $14M real estate portfolio investing part time & now I help veterans and high-achieving professionals passively invest in real estate | Investor | Founder REI Genius | Author | Speaker
7mohttps://us02web.zoom.us/meeting/register/tZUldOCoqTMpH9OOoxoolXiHI6g0ZbFjlg40