With all deals I get under contract, my first step is to see if I can wholesale it. I always believe in working smarter not harder if possible. If I can not wholesale it within a week or 2 my backup plan is to close on it, clean it up, and sell it retail as is where is. The property is occupied by tenants that have lived their for 11 years. They are aware of the situation and have been preparing to move for months before I came along.
I arranged for a couple buyers to view the interior and one of the tenants was uncomfortable with strangers in their personal space. I talked with the seller and they were able to explain the situation to the tenants and help me get my potential buyers through.
When I arrived the tenant was still very upset we were coming to walk through the house and stormed out of the property and yelled at me at my car. A couple of the buyers already arrived and were waiting in their cars. One of them was uncomfortable with the actions of the tenant and decided to leave.
Long story short. I explained the situation and calmed the tenant down. I then was able to get the remaining buyers through and now are moving to close the deal next month.
Even the best deals can become nerve racking with unexpected hurtles. Just a day in the life of a real estate investor!
Thats the system we use and it works!
Get it under contract and try to wholesale for 2 weeks and if we can't sell then we flip it!
We are closing on this next Thursday 1/21/16. It never counts until the check clears though.
We have another wholesale set to close 1/25/16.
Off to a solid start for 2016! I have a couple properties I am working on for February.
Persistence persistence persistence.
On a side note, I had pipes freeze at one of my units last weekend, I spent two hours on my back in a crawl space with a hair dryer. Sunday Funday!
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