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Updated about 8 years ago on . Most recent reply

User Stats

296
Posts
175
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Stephen Hundley
  • Realtor
  • Lafayette, LA
175
Votes |
296
Posts

First Flip from Direct Mail!

Stephen Hundley
  • Realtor
  • Lafayette, LA
Posted

For the longest time I believed direct mail didn't work! Until it did! This is the first flip I purchased from a "we buy houses" letter. They held on to my letter for 5 months before calling! 

The negotiations took about 2 weeks. They wanted $120,000, I offered $95,000. They countered w $100,000 and I countered w $97,500. They verbally accepted then renigged after talking to someone else and receiving a higher offer. Found out another investor offered $125,000 but it was a financed offer. Mine was cash and close when seller wants. Long story short we agree s to $107,500 and we closed last week. 

The home is a 3/2 1,265 Sqft, only 10 years old and we expect to put $12,000 into it. Needs counter tops, paint and floors in bedrooms. Should be done in 5 weeks and ARV is $159,000.

Most Popular Reply

User Stats

296
Posts
175
Votes
Stephen Hundley
  • Realtor
  • Lafayette, LA
175
Votes |
296
Posts
Stephen Hundley
  • Realtor
  • Lafayette, LA
Replied

@Hamilton Blackwell I didn't use a company for these; I did them myself. I hand wrote a yellow letter and left a space for an address. Anytime I see a run down home when driving for dollars I add it to my Google spreadsheet and send a letter.

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