PURCHASED MY DREAM HOME!

[Lisa Lavie]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $410,000

My thought process was always sacrifice a little, purchase more properties and eventually buy your dream house, well that all went out the window when I found this house. It's a gorgeous 3 story property along the waterfront with 30,000 square feet of land. I purchased this house & moved out of my first purchase which is now rented out.
Best decision ever. I adore my house!

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

I went to see the house & simply fell in love. The woman selling was just a few years older than me. This was her dream home but her husband and her split up and this house was just way to big for her family and for her to keep up with the never ending bills. We had heart to heart conversations woman to woman about life & love, it was a very different experience than what I was used to. No realtors were involved, it was a for sale by owner

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

I offered 400K on the property but same day someone else someone verbally said they'd make an offer at 425K. I already had a pre-approval from the bank and she knew that I was also an investor with many properties and that chances are the bank would accept me, so we settled at 410K

What was the outcome?

We signed the papers in her solarium overlooking the waterfront & she cried because she was letting go of what was once her dream. :( I started crying with her & my cousin who was with me as well.
My heart really feels for these type of situations. I told her she could come back and visit her house whenever she'd like.
It's always sad seeing someone have to give up something that was once their everything.

We've since become friends and communicate on a regular basis! :)