So this past weekend our 9th offer got accepted!

11 Replies | Minneapolis, Minnesota

I posted here last week I believe. My post was about submitting 6 offers and none accepted. Well later that week we put in three offers and we got one out of the three accepted. This was the first time we put multiple offers. Everything else we have done before remained the same. 

Strong earnest money

Cover letter

5% Conventional.

We offered 20 over asking. Ask price was $175,000

It's a 4 bedroom house, with 2 bedrooms in a good neighborhood. Needs quite a bit of TLC (tender loving care) great opportunity to add equity. (Really excited about that) we just finished going through inspection today. No major hazards ar problems. Just some things here and there and some upgrades, like windows, and a good paint job.We both knew that work is going to be put into this house so we didn't go too much above asking. I believe, but since it isn't major immediate repairs. That is all good signs. 

So goal here is to fix it up while living there and then move out and rent it. 

Anyways, thank you for all your advice. All I needed was patience. Lol

Originally posted by @Caleb Heimsoth :

Vivian O. Does the comps support 195k?

 Yeah the houses around there are around the same range and the value we will add to the house with the updates, will raise the price more years to come.

Originally posted by @Andy Saquing :

Congrats @Vivian O.!  What area/neighborhood is it in?  And what do you estimate you will be able to rent it out for when you are finished renovating?

 Brooklyn center, ah, probably 1650-1800 range. 

@Vivian O. very exciting and congratulations to you! Post some pictures of your before and after rehab as you are moving forward. Good luck!