BUY AND 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 interesting 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 ill in the hospital & they need to sell their property as quickly as possible.
I inspected the house myself & saw that everything was fine. I didn't put a conditional upon inspection clause.
I also told the woman that we could sign the deed of sale asap & that she could take her time to move out & rent from me in the meantime, she was very happy she had that option. She's 86 years old & didn't know where she'd move so I was making it easier for her.

What was the outcome?

4 other offers came in that day 195K, 190K, 185K and my offer 178K & they ended up going with my offer. I'm still blown away by that but I'm very happy.

I just feel for the woman who's lived there for 50 years & raised her family there. It's not easy to move on & to know that your husband isn't doing so well. I wish I could make it even easier for her. My heart always feels for the owner in these type of situations. :(