I wanted to share a quick story on our second deal. I can post before/after pics if anyone is interested. The property is still under contract and scheduled to close at the end of the month so I can't give too many details. In summary, it's a 4/3 with 2,032 square feet. Bank sale that was listed at $225,000. We went in at $210,000 all cash, 5 day inspection and close in 15 days. We were told there were full price offers but they took ours because of the cash and short close. Started work the day after closing and about 6 weeks later, and just over $50,000 into it, we listed for just under $370,000. There are brokers around my area who will list on the MLS for a flat fee of about $300 so we saved close to $10,000 not using an agent. Just posted on Zillow, the MLS and answered all the calls myself. Listed on MLS on Thursday, had an open house on Saturday and under contract Sunday morning. After closing costs, buyers side commission, etc. we should net between $75k to $80k.
Really pleased with the results and looking forward to more!!
Congrats! Would love to see before/after pictures!
Well done, @Zach Mitchell ! Keep it up!
If you don't mind disclosing, how did you obtain your deal, through marketing direct to seller, mls, wholesaler?
Also for the financing did you obtain a private loan, hard money, existing capital, etc.?
Joseph, it was an REO on the MLS. Private money.
Congrats. Excellent margins. Great pics
Really impressive turnaround. Congrats!
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