It Just Fell in My Lap

It Just Fell in My Lap

My Latest wholesale Deal
It’s really amazing how this deal came together. I had been struggling for several months to get some deals going, I had a big wholesale deal and a few other small deals fall thru. I was getting worried and a bit depressed and frustrated.
Then out of nowhere, I got a call on one of my Craig’s list ads.
The seller, a lady named Sandra, tells me she has a duplex that she purchased to fix up, but something came up and now she just wanted to sell it fast. She explained that she had been trying to sell it on CL for 60K. However she’s willing to sell to me for 50K. I then asked, “I have Cash, is that the best you can do?” She then tells me she can do 45 or 40.
I checked out the property on Google maps and Zillow. Turns out it was just a small 1300 SF older house that had been turned into a duplex with 1/1 on each side and is now boarded up.
I called her back an explained, Sandra, I can only pay $25,000 for your Duplex, but it will be in Cash. She asks, can you do 35K? I then tell her, if you will take $30,000 I will buy it. Without hesitation she says “SOLD”
I emailed her my contract and told her to sign it and get it back to me ASAP. She then tells me she will have to go to Staples to get it printed and will get it back to me in a few hours. While waiting I emailed the address to my buyer whom was buying a few others I had in the pipeline. He’s a licensed Realtor/Broker with his own company. Within 20 or 30 minutes he had run comps, & he was calling me back and saying he will take it for the 35K I was asking. He came back so fast I was thinking, wow, maybe I should have asked for 40K
I emailed him my Assignment of Contract and he had it signed and back to me in a few minutes, way before I got the contract back from Sandra. It was past a few hours and I was getting a little anxious and worried, I called Sandra to ask if I should drive the 45 minutes to pick it up. She says, oh no, I’m a single mom and I have to pick up my daughter from school and I will run over to Kinko’s to fax it to you.
I finally received the signed contract from Sandra and my buyer immediately starts Escrow the very next morning.
After struggling for months and then to have a deal fall in my lap so fast and easy just blows me away, why don’t they always happen like this?
So, this is how it played out. I placed an ad on Craig’s List, I buy houses for Cash, seller calls and I got it on contract and sold it and started escrow in 24 hours. What’s really crazy is, I never met the seller, I haven’t yet met my buyer and I haven’t even seen the house.
This all happened while I sat on my butt in front of my computer with a few emails, txts and phone calls. I estimate my buyer/Realtor will flip it for 40K. It will probably take less than $10,000 to put in carpets and paint and will be worth approx. $70,000 FMV and will easily rent for $550 for each unit. The seller unloads a property she no longer wants for a nice $30,000 Not a bad deal for everybody. Rando

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Rando


That is fantastic!

I need one of those asap. It is kind of like knocking on 99 doors before you get a yes. Also we can put our info out there and it can lay dormant until someone re-thinks a situation and makes a new decision. I am happy for you and you bring me hope.


Congrats!

What a way to go!! Sometimes things just happen this way. Don't dwell on the why it happened, just move on to the next deal Eye-wink
Congrats again Smiling

Andy Sager
DG's AndyS
CFIC and IE member
EDGE 2013 Attendee Laughing out loud

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Andy Sager
DG's AndyS
CFIC & IE member
2013, 2014, 2015 & 2016 EDGE Alumni Laughing out loud


great news and motivation.

Thank you and God bless you always.
Add us to your buyer and sellers list asap.

P.S.
Check out my website.
Create an account asap also watch the video asap.
http://real-estate-mogule.neurs.net
Thanks Smiling

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IM a Diamond in the rough looking for partners I would like to be apart of dean's elite team in the very near future my goal is 100 properties a year

P.S.
god bless all the members may we all shine bright like diamonds.

P.H.G.