Closed on a property on Friday. Work began today to transform this place into something someone would want to buy.
Placed an ad on Craigslist "Know Of Any Abandoned Houses" (We pay a $500 referral if we close) and was contacted by the owner. He said his house was empty! He was asking $23K for his 3/1 in a small town. Followed the suggestion in one of Dean's books and asked him if he had any offers on it yet. He said "Yes; one guy had offered him $18K for it and he would have taken it but they guy wanted to pay him in 3 payments" So with JUST ONE QUESTION I go the asking price down almost 22%! So I bought it. Looks like $8K to $10K work needed. Will rent for $600 easily but hope to sell it. Always good to have more than one exit strategy.