I posted this on my journal but I also wanted to put it here in the "my deals" section because it is such a learning experience about "thinking a little different".
It was raining today so instead of driving around looking for properties I decided to call about rental properties listed in my local newspaper. I called the first one on the list and I asked the owner to tell me about the property. He said he bought it a year ago and was going to rehab it but did not have the time. After he explained the rent etc... I said " If I could pay you cash and close quickly how much would you take for the property?" By the end of the conversation he offered me the rental property for $150,000.00
and 2 separately titled building lots next to the house for $40,000.00 each. The property is a lake front twin that was made into one living space.
But wait it gets better....
He then said he had a multiplex, tenant occupied, $3,500.00 a month income he would sell me for $249,000.00. All 5 units have tenants some that have been there for 5-8 years.
I am meeting him Saturday to see the properties.
You can bet that I WILL be calling the rest of the rental adds tomorrow. He was just #1 out of the 30+adds for rental properties. I encourage others to do the same. You never know what the owners situation is and they just might be willing to rid themselves of a burden. People are having a hard time selling their houses so they are putting them up for rent to cover the mortgage. CALL THEM!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,