Money Is Not Always The Main Motivator of A Seller

[Ashton Hines]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $460,000
Cash invested: $10,000
Sale price: $635,000

This was an easy house cleanup along with new countertops, backsplash, touch-up paint and landscape cleanup. Plus the owner did not want to move or sell any of his stuff so part of the deal was my agreement to handle that task for him.

What made you interested in investing in this type of deal?

It solved a problem for a person who did not want to mess with selling a house or it's items so he could easily move on to another chapter in his life.

How did you find this deal and how did you negotiate it?

I met the owner and became friendly over about a 6-month time frame after we connected talking about growing near the same part of Texas.

How did you finance this deal?

JV partner who assisted with Hard Money Loan

How did you add value to the deal?

Updated Interior and cleaned up landscaping

What was the outcome?

We priced a little below market and got 4 offers in 24 hours in a slowing market and closed without a problem to an end user.

Lessons learned? Challenges?

8620 Barlow was a great example of how money is not always the main motivator for a seller. This particular individual had lost their spouse and a son within a 6 month period and wanted to move into an Independent living apartment so he didn't have to take care of the house and yard and to be honest I think he just wanted a fresh start. Towards the end of the process, he told me that he hoped I made $100K and thanked me for helping him out.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I used Easy Street lending for the HML and represented myself