A few months ago, I had a house I was getting ready to put on the market. It happened to be the largest house in the area, on the largest lot in the area. I ran some comps, made adjustments based on size and came up with what I thought would be a reasonable listing price.
I interviewed a handful of agents, and was told by all of them that the price I wanted to list at was too high. The additional square footage did not add much additional value since homes in the neighborhood typically sold in a particular price range. Basically, it was overbuilt for the neighborhood. Some aspects of this argument seemed to make sense to me, but I still wanted to see if I could get the higher price I had previously calculated. So I listed it FSBO.
In 4 weeks I had over a dozen showings, multiple offers, and ended up closing for more than our original listing price. What I learned was there were a lot of people already living in this neighborhood who wanted to stay, but had outgrown their home, and were willing to pay a premium for something larger. What I though was initially a negative turned out to be a positive.
Let's here your stories of when you thought of something as being a negative and it actually turned into a positive.
@Tyler Clark When funding for a deal under contract fell thru..I purchased with my own cash and got back 100% of purchase price plus some the first year!..Never let anyone control your destiny If it feels right, move forward with courage!
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!