I am always very honest with sellers when I buy houses like this and tell them they may make more money listing the home with an agent but many people prefer the quick closing and do not want to deal with showings or cleaning their house up. These sellers had a house they wanted to buy out of state and knew I could be flexible with the closing date as well since they needed to sell this house first before they could buy the other house.
We also let them stay for two weeks after we bought it to give them time to move. We always hold back money in these situations just in case the sellers decide they do not want to move anymore or take their time moving. This situation happened earlier this year when a seller did not want to move out and we had to evict her!
This house should be worth around $285,000 when it is fixed up which does not leave us a ton of room, but it should be an easy flip which are the ones I like!
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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped close to 200 houses and routinely flips 15 to 25 houses a year. Mark owns 170,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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