BUY & HOLD INVESTMENT

[Lisa Lavie]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $178,000

This house came on the market just 3 days ago. I went to see it & it has so much potential.
I immediately put in an offer & that same day 3 more offers came in.

This house was an interested purchase because all of the offers were a lot higher than mine, even by $15,000 more but they still chose my offer above the others.

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

The woman's husband is unfortunately very very ill in the hospital & they're trying to sell their house as quickly as possible.
I inspected the house myself for the major stuff & it all seemed fine so I didn't made this property conditional upon inspection which worked in my favour.
I also mentioned to the woman that we could sign the deed of sale ASAP but that she could take as long as she wants to move & rent from me in the meantime. 4 offers: 195K, 190K, 185K & they accepted mine at 178K.

How did you add value to the deal?

This property is in pretty good condition as is, just 2K in work (Adding laminate flooring in the basement and replacing old vanity in downstairs bathroom & this house is rent ready.