like winning the lotto
I saw an ad on craigslist about a burned up house in north canton ohio. I texted the seller, got the address and did a drive by. it was about 1900 square feet, 4 bedroom 1 bath, with a detached 2 car garage. the house was across the street from the Hoover building that is being renovated into apartments, retail, etc. the parking lot actually butted up to this property. I made an offer of $6000 and planned to flip it when my current flip was completed,which was still about 2 months out. within a month I received a letter from the investment company doing the Hoover project inquiring about me selling the property. I called, they called back. I said $20,000 was my price. they accepted and we closed in a few weeks. I think I owned it for about 2 months and had the grass mowed and nothing else. I 1031'd the money into another buy. maybe I should have started higher because they accepted the first offer but had they countered any 16,000 I would have accepted