OfflineI saw a local house for sale on auction.com; Jill & I have bought several through them before with good results.
When i went to preview the property, it turned out that the owner was still living there, she saw me walking the property & to my surprise invited me in ... it was in very good condition.
That gave me an "Unfair Advantage" since other buyers couldn't get into it. I tried low Pre-Auction bids that were rejected, so I waited for the auction to begin & placed a bid in the amount that the property had been listed at on the MLS,
which was 53,500(we would have normally only paid about 40K to 45K).
We won the property & closed on 4/29/15. Fixed a water leak by replacing a valve(9.95); replacing a toilet float(7.95) & installing two ceiling lights in the two bedrooms(21.95).
Jill & I signed a contract today selling it for $ 65,000,
the couple flew in from Puerto Rico with cash & paid in full, in advance ... the closing is on 5/14/15.
House # 83 completed, now onto the next !
Overpaying was still beneficial for Gary & Jill !
Posted on: Fri, 05/08/2015 - 02:00
Overpaying was still beneficial for Gary & Jill !
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- by gceriani
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Might not be as much profit as you expected but something is better than next. Great job on making it work.
Reynold Orozco
You're right Reynold, we could have spent about 2 weeks on a remodel consisting of paint, carpet & appliances; spent an additional 4K to 5K; & sell it for about 75K ... but quick cash is always nice !
very good job. quick cash is awesome....
WALT
way to go Gary n Jill love it, nice profit, those deals are golden. so where are you guys at in the country? and did you go to the Edge?
Tony
Go faster do more! GFDM!
Thanks Walt ! Quick cash is awesome, wish we do this every week ... now that would be some serious cash !
Thanks Tony, we're in Beverly Hills, Florida. We did not go to the Edge this year,
I've had a vertigo problem for the past few years & can't fly.
That were an awesome move - especially that walk by. Dean always said "Think outside the box. And do something others may not be doing as well."
Thanks, I thought i was going to get shoot when the front door opened ... but to my surprise she was very nice & showed the entire house to me; that did give us an "unfair advantage" to be able to bid higher, knowing what was inside.
The house was closed on Wed. 5/13 ... the new owners are very happy, the wife even cried because it was such a good property & great deal.
Now back to our rehab, should finish in 2 weeks !