Despite doing about 60 deals mainly using fix & flip strategy we have been discouraged the past 2 months. After selling our last rehab we started making
offers right away, but with no luck ... we put in 37 cash offers & were either flat out rejected, or just couldn't come together with the sellers(most properties were REOs)regarding the sales price.
Finally on Friday one was accepted; a 2 bed/2 bath/2 car garage with an additonal family room & fireplace; has about 1700 sq. ft. of living area. Purchase price is 44,300; needs minimum repair, about 3K to 4K; & is worth about 79,000. Then we got a call Saturday morning that another bank accepted an offer we put in on another 2/2/2, only about 1400 sq. ft. living at 36,000. This one needs 6K to 8K in repairs, but is newer & has a split floor plan. This one should go for about 69,000.
We have a few other offers out there on different properties, but are starting to run out of cash ... we
are going to be needing partners soon!!!
Just remember that all of us can get discouraged, whether you're looking for your 1st deal or working on your 100th ... just "keep the faith" & keep looking, it
will turn around sooner than you think.
Despite doing about 60 deals mainly using fix & flip strategy we have been discouraged the past 2 months. After selling our last rehab we started making
offers right away, but with no luck ... we put in 37 cash offers & were either flat out rejected, or just couldn't come together with the sellers(most properties were REOs)regarding the sales price.
Finally on Friday one was accepted; a 2 bed/2 bath/2 car garage with an additonal family room & fireplace; has about 1700 sq. ft. of living area. Purchase price is 44,300; needs minimum repair, about 3K to 4K; & is worth about 79,000. Then we got a call Saturday morning that another bank accepted an offer we put in on another 2/2/2, only about 1400 sq. ft. living at 36,000. This one needs 6K to 8K in repairs, but is newer & has a split floor plan. This one should go for about 69,000.
We have a few other offers out there on different properties, but are starting to run out of cash ... we
are going to be needing partners soon!!!
Just remember that all of us can get discouraged, whether you're looking for your 1st deal or working on your 100th ... just "keep the faith" & keep looking, it
will turn around sooner than you think.