Posted by Tony S. in FL on October 07, 2003 at 18:34:22:
NT
WOW ! " House on a 1/2 acre for $3000" - Posted by TC
Posted by TC on October 06, 2003 at 22:10:03:
Had a realtor call me with a sweet deal.
This deal is in a rual area and a couple of miles from a small town.
Said that it was listed as 1/2 acre with old house that needed to be bulldozed and she went to look at it for land value only and realized that this house was a 2/1 frame in livable condition (Not to mention full of furniture and a riding lawnmower under the back porch) and so she called me.
It was listed for $5k but said that the owner was negotiable and that she thinks that he will take a offer of $4k.
I said to offer $3K.
She calls me 2 days later and was real excited to tell me that he accepted the $3k offer and also agreed to pay for the survey and title policy!
I am not used to rehabbing a home in this condition.I will probably spend a maximum of $15k on it and that includes installing of a new areobic septic.
Ther realtor tell me that it should sell quick in the $50-60k range.
Just wanted to share and let everyone know that you always need to be putting your name in front of people because they may be the one that puts the next deal in front of you.
Regards
TC
Re: WOW ! - Posted by D
Posted by D on October 06, 2003 at 23:33:59:
find it hard to beleive, why didn’t the realtor buy it?? great job though if its true
Re: WOW ! - Posted by TC
Posted by TC on October 07, 2003 at 08:29:36:
The realtor is my sister in law’s mother in law.This woman is amazing.She is 67 years young and divorced.She made a decision to do something with her life so she got her realtors liscense.This is her first deal and she is real excited about it.
It is sort of a joke around the office and they refer to it as the deal that she will retire off of.
I think she said that she is making a whopping $45 on it.She knows that she will get a listing though when it is ready to go back on the market.
To answer your question as to why did she not buy it , well she has three teenage grandsons that do a good job of keeping her money spent so she really didnt have the money to purchase it if she hads of wanted to.
These deals really do come around from time to time.You just have to be there and ready to buy.
Have you read Micheala’s post about her deal that she made $150,000?
Regards
TC
Re: WOW ! - Posted by Tony S. in FL
Posted by Tony S. in FL on October 07, 2003 at 17:55:09:
>>…Have you read Micheala’s post about her deal that she made $150,000?..<<
You have a link to that one?
Re: WOW ! - Posted by TC
Posted by TC on October 07, 2003 at 18:19:54:
I beleive that I read it somewhere in this thread
http://www.creonline.com/wwwboard/messages/92574.html
All that I am saying here is that it is possible.
I have two success stories posted here on cre and on one of them I beleive that I paid around $5-6k for a 2/1 frame with a lot and a half that I rehabbed and then retailed.This was about 3 years ago and in the same area I had purchased another 2/1 for $4k that I rehabbed and moved my mother into.
These deals do not come across the table every day but they are out there.I think that you have to have your name in front of the people at the time of their motivation in order to make these deals work.I also beleive that if you are the one to mention the price first that you could be leaving a lot of money on the table.
I do not go in trying to do a hard sale on the seller.I go into it all ears letting the seller tell me what will work for them and a lot of times it is a lot less than what I would have offered.
Regards
TC