I just closed on a SFH in our market (Cuyahoga Falls, OH) from the MOST random lead...my husband's hair stylist. We tell everyone we're looking to buy houses in that market and one day, during a hair cut, she says, "I'm looking to get rid of my house in the Falls." She had been renting it out to a family member and that person was moving out. She didn't have time or money to make updates to sell it so we offered to take it off her hands. Got it for about 30k under market. We'll put maybe 2k of updates into it and rent it. That's my most random lead on a house to date. Anyone else in the BP community have a story like that?
That was a good one. yes, sellers are everywhere and it is just a matter of telling EVERYONE what you do. The majority of my deals now come from networking and the referrals network I have built over the last 4 years.
My strangest one actually came from a banker. The lady had borrowed money to buy her house 10 years earlier but now as she had gotten older and quit working didn't have the income to keep paying. She went back to the same mortgage department at the bank and wanted to give the bank back her house. The loan officer laughed and told her they sold the mortgage two weeks after they made it BUT before she does the foreclosure or default she should call me and that I might be able to help her without any cost and save her credit. sure enough, she called and I worked out to buy it Subject to. Needed a little work (8,000). Purchased for 45,00- plus 8k plus two months mtg pmts and sold it for 78,000. Net 21,000 for two months. Would have made a great rental but didn't meet my criteria for a keeper. If I knew then what i know now I would have sold it with owner financing and made a tremendous amount more over the time.
Deals are everywhere if you tell enough people what you do.
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