Making money when you buy
I bought a house less than 3 years ago. It's a small single family. A realtor I knew asked me if I was interested and at the time I was really focused on 1% rule. It was listed for 125 and I told them if it was at 100 I would take it. They came back a number of times over 4 months but I wouldn't budge. They couldn't sell it because it was in a flood plane.
Ended up getting the house for 100. Got a new elevation certificate and reduced the flood plane. Have a great tenants and haven't missed a month, and I am under contract to sell for 155k cash buyer closing in a week.
Moral of the story is you make money on the purchase. This has happened on a number of occasions, and I keep winning in purchase negotiating.
Most Popular Reply
Hell yeah. As long as you buy at the right price, everything can go terribly wrong and you can still win.