Updated over 5 years ago on . Most recent reply
MLS still has amazing Deals!
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $160,000
Sale price: $215,000
An example on how the MLS is still a great place to find deals! Found this property in a very hot area that was under priced, I put a cash offer, As-is, sight unseen within minutes of it being Active. Closed within 5 days, turned around and put it on the market FSBO, had a contract within 1 day. During inspection, I gave them $500 for repairs, and had to pay their agent 2% but over all I will net about $50,000 for few hours of work.
What made you interested in investing in this type of deal?
Knowing the market and understanding the shortage in supply.
How did you find this deal and how did you negotiate it?
MLS, called the list agent and gave him a cash offer, As-is, sight unseen within minutes of it being Active
How did you finance this deal?
Cash
How did you add value to the deal?
Let it sit on the market more than 20 minutes lol
What was the outcome?
Made $50,000 for not much work
Lessons learned? Challenges?
This was one of my bigger deals and just have to understand that risking more money (investing) will help be get bigger payoff.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented my self on this deal. I am a top agent in the Knoxville area, with over 10 years of experience. I work HEAVILY with investors, all kind of investors. Some flip, whole sale and fix&hold. I understand the numbers and can guide you through the process.
Follow my page and contact me if you would like to talk, I am an open book.