This just in!! The house in the previous post in Canton Ohio is under contract now and there is a lock box on the door. Seller was just busy with Holidays and other issues as I expected.
We have a buyer lined up already within on day of sending this property out and posting it online.
Contract price $10,000
Wholesale Price to buyer $14,500
Potential Profit $4,500
This will be my buddy Chris's first wholesale deal since he partnered with me and showed him what to do. Super excited to cut him his first big check for $2,250
Sunday, December 30, 2012
Monday, December 24, 2012
What is Up with these Sellers?
Ok using my favorite techniques of Yellow bandit signs and Yellow Marketing letters using the software you see over on your right. I got some calls coming in. Another 2 looked like they could be some good deals.
The one property located in Canton Ohio is somewhat inherited or basically the son has power of attorney over. Located by a hospital and in really good shape, just outdated thats all. We made an offer of $8k which he didn't agree upon, but then we came back at $10k. He accepted! So we send him over are 2 page purchase agreement. Tell him to review it and send it back......he never does. So I give him a call and ask if everything is still good...he says yes and he will get it to us asap. We still never receive it!!! WTF!!
Im gonna assume because its close to Christmas he is busy and will call him after the holidays. This guy could of had extra money to spend on Christmas if he would be timely and not a procrastinator.
Here is a picture of the property
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Second property was a multi-unit which the seller bought for $8700 back in 2007. I was unable to get a selling price out of him before I made my offer which usually is not good. Given the information, condition of the property and the fact that the market still sucks. We gave him an offer of $10k, and never heard back from him again.
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I believe he thought he was gonna strike it rich or something?? Sorry buddy your property is in a very rough neighborhood, many of the houses on that block are in very poor condition, or boarded up. Some of these sellers need a reality check. They have this illusion in their mind that their property is so great compared to others and that the market had no effect on their property. Maybe some sucker will come along and buy it from you for like $30k...but you will be waiting a long time. So best of luck!!
The one property located in Canton Ohio is somewhat inherited or basically the son has power of attorney over. Located by a hospital and in really good shape, just outdated thats all. We made an offer of $8k which he didn't agree upon, but then we came back at $10k. He accepted! So we send him over are 2 page purchase agreement. Tell him to review it and send it back......he never does. So I give him a call and ask if everything is still good...he says yes and he will get it to us asap. We still never receive it!!! WTF!!
Im gonna assume because its close to Christmas he is busy and will call him after the holidays. This guy could of had extra money to spend on Christmas if he would be timely and not a procrastinator.
Here is a picture of the property
.jpg)
Second property was a multi-unit which the seller bought for $8700 back in 2007. I was unable to get a selling price out of him before I made my offer which usually is not good. Given the information, condition of the property and the fact that the market still sucks. We gave him an offer of $10k, and never heard back from him again.
.jpg)
I believe he thought he was gonna strike it rich or something?? Sorry buddy your property is in a very rough neighborhood, many of the houses on that block are in very poor condition, or boarded up. Some of these sellers need a reality check. They have this illusion in their mind that their property is so great compared to others and that the market had no effect on their property. Maybe some sucker will come along and buy it from you for like $30k...but you will be waiting a long time. So best of luck!!
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