Honesty and Patience can pay off

[Matthew Paul]

About 2 months ago , I put in an offer on a house .The woman is in a nursing home . Her son showed me the house , ( good bones but dated ) . I wrote up an offer  and gave it to the son to run by his sister and mother .  He brought up to me he had a higher offer from someone with a sign like  " we buy houses , etc" . I had to explain to him how wholesalers operate , then I explained my offer , costs to repair , etc . And the fact I was the buyer and can give proof of funds .  So I leave my offer , tell him to check out what I told him and if they are interested give me a call . 

Two months later I get a phone call from the son . You still interested in the house ?  I tell him sure .  He then goes on to tell me he had an offer from a guy $ 45K higher than mine , but he was a wholesaler  but  the guy kept stringing him along on a settlement date and kept wanting to see the house with his contractors , ( husbands and wives with kids )  . All he asked of me was could I show him proof of funds within a week ?  I told him I could do one better , I can show him proof at lunch .   I took the son to lunch , and he basically told me he talked to about 6 people interested in the house , and I am the only one who didnt lie to him .  He asked If he could leave anything they didnt sell in the house ? I told him I would take care of  anything they leave behind . 

Straight talk and patience can pay off 

price $125K   finished comps $225K      Repairs  $ 20K to $ 25K        House will rent for    $1700 a month