One day on my way home, I decided to take a different road to my house, and I came across a overgrown house (actually a jungle), with numerous violations from the county posted on the door.The house needed some work on the outside, but it wasn’t that bad. I could not see the inside.
Then the neighbor came over and said the house has been vacant for six years, and nobody can find the owners. He wants to buy it too, but had no luck finding the owners.
Hmmmm, I thought, I smell a opportunity. So I spent the rest of the day tracking down the owners, and I found them living over a thousand miles away. I called them up, told them the condition of the house, and asked if they wanted to sell. They said yes, but they wanted me to send them pictures of the house first, so I did.
Then they would not give me a selling price. I know the first one who says a price loses, but they would not give me one. So I threw out a real low-ball offer to get things rolling. I said, “How about $5,000?” And they said, “That sounds good.”
I almost fell out of my chair. I could not believe they took that offer.The rehab cost was $6,000 and my purchase price was $5,000, for a total of $11,000. And I sold it for $43,900. That’s a profit of $32,900.
It pays to take a different way home. I started investing in real estate three years ago and went full-time last year. I would like to thank CRE Online for teaching me and holding my hand for the last three years. You have changed my life forever.