Hello
Some of you may have read my last thread about the "pending assignment" I had in the works that led to a sale. Well it has been a while, and I have talked to a few sellers still with a bit nervous thing going. This time this last call wasnt as bad as I thought. I should've negotiated harder but I still felt good about it.
I finally had the courage to offer again. The property is a 2BR/1BA 780 SF TH with a partial basement and property needs work. The owner is kinda motivated since his legs was amputated and he had no choice but to move out. He moved out a few years back. Thing is the properties in the surronding remington area are selling around 40K at the most for an investor. It depends on how much work is needed. To add according the comps the highest "renovated" was for 109K. This comp was 3BR/1BA 1044 SF home. (Yes it is an extra Bedroom but I was focusing more on the SF of homes).
To add 2 other comps in the area were sold for 75K each and fully rennovated. So of course a person didnt have to much room to work with. Both are 2 BRs.
Thing is however a major developer is working on the 2800 block of remington and the property I am working on is well not even a block away. It is litterally a short walk to where the renovation is happening.
So lets get to the good stuff. I just got off the phone and well I started stupid silly low to see his reaction. 15K was the offer. He wasnt pissed so he declined. I offered a couple more times and stopped at 35K. Basically I am trying to stay away from what a few investors have paid which is 40k at the max.
Even though I felt good but im a bit uncertain. The owner did "like" and he'll "call me back".
Typically either:
"A" he is brushing me off
"B" he needs to talk to his wife.
"C" may have already received another offer.
Since a few others have a journey thread I guess it is my turn.
