$50,000 Equity Gain in 15 Minutes

[Levi T.]

Somedays deals just hit faster than you can write the paperwork. Lady called me out of the blue the other week wanting to sell her townhouse in the the city of Fredericksburg. She said she heard of me via a friend of hers. I somewhat forgot about it as I was working on a big apartment complex deal, and I normally don't deal with single units. Yesterday she called me again, so I dropped by her townhouse that evening, and within 15 minutes signed a contract on a 2BR 1.5 bath townhouse with custom granite countertops, wood and tile flooring, plus stainless steel appliances included for $80,000. I need to do about 10k in repairs due to her HVAC needing replaced, and just some basic TLC, but ARV for that neighborhood is $130,000. I'll be dropping it on the market to rent for $1,200 a month. Calculations are saying we will net $8,000 per year easy. Crazy good deal!