Benefits of Walking for $$$

4 Replies

Benefits of walking for Dollars

Recently I was walking in my neighborhood and looking at potential properties, and one of my neighbors was out getting the mail. When I walked by I gave her a half wave and a smile.

We started talking and she mentioned she will be moving out of state. I asked her if she was selling her house because my husband and I buy houses. I told my husband about it so he decided to go over and talk to her, to try to see if she would sell it to us directly without a realtor. She said she bought the house with a particular realtor and wanted to sell it with the same realtor.

We were expecting to pay around $130,000. Comps in the neighborhood go for $165,000-$170,000.

A couple days later the realtor called me, and said they will take $120,000. So we accepted the offer, and are awaiting closing on the 26th. We already have it rented for $1250 a month. The tenants move in on the 1st.

We have a total of 5 days to update everything. We'll see if we can complete it.

We will post some before and after pictures. It's a 4 bedroom 2 bath, 1 car garage.

congrats!! the place looks great

I like how you term it 'walking for dollars'. I think the ROI is very low but well done, nonetheless.

Hey @Nat Chan

Our PITI is around $562 and the benefit of this one is she replaced the windows siding and roof due to a hail storm, so our maintenance expenses will be low so that's a plus. Our renovation costs will only be around $2000.

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