Sold two properties this week!

My buyer came from the latest 90 day cash sold list! Added this guy to our list 2 weeks ago. Sold him 2 condos!

Here is the deal. One of my fix/hold buyers that I have sold properties to in the past called and asked if I could sell one of his properties for him. It was freshly remodeled and had tenants in place. He wanted $135,000 and would pay me $2,500. So I said sure! While I was looking at the place I saw a property for sale in the next building. It was listed for $110,000. Owner/occupant selling it. Condo in good rental shape, just needs a good cleaning. I got the thing under contract for $116,000 (bidding war) and listed it for $124,900. Rents are $1250 to $1350.

So I sent them out at the same time. One for $135,000 and the other for $124,900. Neither property would appraise for those amounts!! So I needed a speculative buyer that would pay cash. One that was buying for cash flow only.

This deal is proof that we need to constantly update our buyers. How many people are seeing multiple offers that go over list price. The numbers just don't seem to work. Like these two I just sold. SOMEONE IS PAYING ALL THE MONEY!!!! We need to add them to our list and there is no better way than the 90 day cash sold list. THERE YOU WILL FIND WHO IS PAYING WAY MORE THAN WE WOULD!! SELL TO THEM!

My fees totaled $11,400. Closing March 12th on both.

Markets change and we must adapt quickly!!

Michael