Fact or Fiction....

My latest deal is in my home town, in my neck of the woods, 9 months later seller and her husband are ready to sell their house they are older and have downsized to an assisted living facility, although they are very capable still but preparing for the future. I met her when I sold the attached twin townhouse that belonged to her sister, last year (wholesaled it) I went over to her door and introduced myself hoping she wouldn't be disturbed by her new neighbor (my investor buyer) she wasn't at all the nicest lady and invited me in and gave me the grand tour, and it was. This house was over 2600 sqft w/4 bedrooms 2full baths plus 1-3/4, it's located in an upscale community w/higher end duplexes and Townhouse on that side of the street. She tells me that she is planning on moving herself soon, I asked her to call me if she wants to sell fast without putting any money in for repairs or updating, her husband chimes in, "its130,00 and not a penny less"! Okay I feel his sarcasm is totally ignored by the only owner, his wife, she shushes him away and shows me her recent appraisal for 169,000.00 wow in a 39k discount! I was glad to know they were motivated!
So I wish them well on their soon to be new move and ad her my card, I leave knowing I planted a seed. Months went by and I pass the location again, see a moving truck in drive way, I get out of my car nobody is home, put a card on their scream door. More time goes by, months I pass the house again and all is quiet no more lawn furniture in the front, I go home and send her a mailer w/personal note on the back reminding her who I am... One last attempt, I pass the house and see the garage open with her husband in it, moving some final things looks like. I stop and say hello, ask if they are moving? He looks at me remembers me and say, his wife is just inside, he calls her quickly, we talk, she brings me unto date,and tells me she will call me when she is ready to sell, still moving stuff and some friends are helping.... I leave happy feeling that I have given this sweet lady an alternative, a choice on selling her house to me as is or fixing it (cosmetics) and listing it. the decision was hers to make, I went about my way, not looking back, because I did try after all:)

A total of 10 mons went by, with a total of three drive by, two mailers, and one stop n talk to the owner. She calls me and I lock it on contract for 85k Cash to seller, she owns it free and clear, i do my homework and find the ARV from my realtor pulled comps with like properties, meaning only townhouse, duplexes in the neighborhood I asked her to pull. The sold comps were 221,400--- we did them again this time pulling all sold to include just SFR ARV show this time 215,625---The repairs are cosmetic mostly to include carpet on all bedrooms and the rest of house has tile in good condition, some lighting fixtures could be replaced and paint in bedrooms. I realize what a big spread I have and a sweet deal, hmmmm, so I begin calling my buyers list first one tells me, my number are and I quote , "Fictitious", kinda laughs in disbelief, he's my lates buyer I added from a tax auction sale I met him at.
Well, I was a bit stunned at his attitude and thinking that maybe I need to recheck my solids again! I do and talk with my realtor, she verifies and says that area is unique because on that side of the street is where those high end duplexes are, so she found one further out one mile way and still calculates in 215-220k, average price per sqft was 82.10 with using only four that sold as of June this year with like properties. I am amazed at my lowest offer being accepted and hope that other buyers will see the value even though the neighbor is attached. I am currently advertising it at 129,000 which i plann to double close the deal. I have had a few showings, one sd they want a fix and flip, worried about selling since it is attached to the other. So far no response from my list, but many responses to one of my Co-wholesale deals with another wholesaler, which is 38k w/about 20k in work, Hmmm go figure?
I will call my buyers until I make touchdown!

To be cont.......