Why I Love Flipping houses

[Jim M.]

So I've got a few projects going on right now that are getting ready to wrap up in the next couple weeks to month or so.  I'm always on the search for new projects and have gotten a bit frustrated the past few weeks with a lack of inventory out there.  Then get a call off a sign in front of a new build I'm doing(have done plenty of rehabs and additions but this is first new build) that a nice lady is looking to sell her house.  That was Wednesday night, set up meeting for Thurs am...goes like this. 

Meet my GC over there and it is a nice lady and her daughter.  Starts up with me...so you're looking to sell?  She responds with a story that she had to unfortunately move her daughter and grand daughter with her due to some spousal abuse(crazy with the ray rice thing going on) and that they are looking to sell and get down to South Carolina and buy a home closer to some family.  She goes on...hopefully he can't find us down there but I suppose he could just look them up in property records.   Also, they are working on a restraining order.  I advise to talk to an attorney about putting new home in a trust and shielding them from a search...she will look into that.  

We walk around the property for a bit and they gave me the low down on repairs and what not, the lot as well, and things about the neighbors.  I told her I needed to look into things and asked if she had an idea of what she thinks she might want to sell for.  She throws back the old tax value number...in my head I think oh boy cause the value is about 55k shy of that number.  I let her know I'm very interested and will buy at the right price and that when they find a home to buy in SC we can set up the closing to coincide with the purchase of their new home.  They have been looking for a couple weeks but haven't found anything they liked and seemed to be a bit frustrated by the search.  

I expected a call maybe next week with her having a very high asking price.  So I was probably leaning towards this may not be a deal.  Boom!  Get a call this morning that they went down to SC after I left and they found a home they all liked!  She wants to sell me her house and I ask what the number might be?  Pause...173.  I'm shocked cause I was going to offer 165 so we get the deal done at  170.  She goes on to say that the seller in SC is building a new house, hasn't broken ground yet but were thinking a November close as they have a place to go in the meantime.  So...60 day close which allows me to finish up a the projects and roll right into this one!  

Here's to a nice weekend!  I love when deals come out of nowhere!