My 2nd off-market success story!

4 Replies

I literally just closed an off-market deal 30 mins ago. This was my 2nd off-market in 4 months.

I had done some work for these people in the past, and two months ago they asked me to give them a quote to rehab their 45 year rental, as they wanted to rehab and sell. They had the same tenant for 43 years. The house was old, dated, dirty but with a 5 year old 40yr roof and 1 year old 93% efficiency condensing gas furnace (and beautiful hardwood I found under the 40yr old carpets). Previous tenants left some junk behind, and they were kind of grossed out just walking in, but basically the house needs to be cleaned, painted, flooring, and a little updating. No biggie. This is every day life for me. While I was there for the quote with the owners and realtor, the realtor said she’d feel comfortable listing the house at $130k once the work was done.

A week later I went to them with my quote of $17k, and they wanted to take care of new carpet and appliances. I also made them an as-is purchase offer of $60k. They said, you know what, we like you, and we don’t want to deal with all that’s involved in rehabbing and selling this house. It’s yours! We just closed and I couldn’t be happier. Since I do all my own work, my rehab cost should be around $10k with new windows. It will easily rent for $1250. Off-market deals are the way to go, forget the mls, there’s been nothing in my area for months.

@Matt M.

Great job! I’ve had some success with off market deals as well, but nothing like this.

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