An inch of water in the basement = $2500 in profit

[Ryan Dossey]

I am still scratching my head here. We had a rental we were under contract to purchase in a C class area. We decided we'd rather wholesale it after further review. Us purchasing the property was literally as a service to the owner/family. Not much other than cashflow that we were looking for in this one. One of the properties where 20 years down the road I would expect any appreciation. 

We decided to list it on Cl and Postlets to see if we could unload it. Worst case scenario we hold it. My business partner goes out to show the home and the guy loves it. Loves the exterior, yard, main floor, and is super excited. They walk down the steps and there is a 10X15 puddle of water an inch deep or more. Guy says "Oh that's a problem." Made a lowball offer and they parted ways. He calls us back multiple times that night and bid himself up to a 2.5K profit. I'll take it! Definitely didn't think we would be selling it with the "below ground pool"!