I just wanted to send you an email on a recent success I had. I was trying to purchase a home that was up for estate sale. After inspecting the house, I decided I could pay up to $35,000 for the house. So I decided I would offer $30,000, since it was only on the market for an hour and they where asking $45,000.
But before I could make my offer, the Realtor tells me that she knows that they will accept $25,000. So of course I tell her that the best I could do is $20,000. They countered at $22,000.
This is something that we as real estate investors miss–we never listen. We are so focused on what we are going to say next, that we forget to listen. Lucky for me I was paying attention that day.
But, the story gets better. The day after closing on this house, I had a new roof put on. That day I got a call from someone who told me to stop working on the house because he wanted to buy it from me “as is.” I agreed to make some more repairs for him. So I have a total of $28,000 invested in the property.
We will be closing on the house next week for $55,000. I will have a profit of $27,000 in just three weeks. And all I had to do was pay someone to put a roof on it. I’m working on a similar deal with the buyer’s sister. I’ll let you know how this turns out. Thanks for all the help.