Creative Investment Stories

[Dan Onofrio]

Every day I hear a variation of the phrase "I can't find a good deal right now, the market is too crazy!" Coming from an investor who purchased a property last month in an intense market, there are a bunch of creative ways to make a deal work. I have my own story, but I would like to hear yours!

Can you take a moment and write about a deal that "shouldn't have worked" in your market, but because of your creativity, you were able to make it work? I want this to be a testimonial to newer investors that deals are out there, but they don't usually fall into your lap - they are created into existence. 

[Jossalyn Wallace]

I recently closed a deal with awesome margins I got from cold calling. The gentleman was the original owner of the property but it was a STR and he was tired of taking care of it and it just wasn't worth it for him. In talking he mentioned he only wanted to take home 242k for the property ( very low in our market although it needed renovations). We offered him what he wanted by paying all costs, waiving any commissions and just making it as smooth as possible for the seller as he expressed he didn't want the hassle of selling. If he went to market with the home it would've went for close to 300k.

Purchase price 242k

Loan amount 209k

All in after down payment and renovations and costs- 309k

Sold for 485k

[Dan Onofrio]

@Jossalyn Wallace Incredible! Thanks for sharing!