Real Estate is an Amazing Business!!

It's been a while since I put a blog up and I'm in a blogging mood so I thought I'd share this little story with you.
Almost two years ago I bought a little 2/1 bath house in MI, from an online tax lien sale, somewhat similar to ebay. Now, being a fairly new investor and all over the board with which part of REI I wanted to tackle. This was appealing because you could buy a property for 'pennies on the dollar.' However, I didn't do my due diligence and bought this house sight unseen. BIG MISTAKE! I won the house for under $2,000. I had money from my assignment set aside to fix it up and then flip it. But things didn't work out that way and I wasn't able to fix it up. So when I tried to sell it my first buyer backed out, then I relisted it and the second buyer backed out as well. I was panicking, although I didn't have a mortgage I did have to pay the taxes. After several months of listing it I realized that I was probably going to be stuck with this place. Just by networking, someone offered to help me sell it for a small fee. Well, that's exactly what I did. Not only did she find a buyer, but she created a bidding war and got a pretty good price on it. Because she did such a good job I gave her more profit out of the proceeds. So it was a win/win for me, the buyer, AND my new friend. We're now working on our second property together which is also in MI that my partner bought at the same tax lien sale. So all three of us (including the buyer too) will make money on this one making another win/win for all. My point to all this is this, even though you got a raw deal or made a mistake on your purchase, if you continue to look for answers or exit strategies you can STILL make a profit, only in REI. What a great business to be in, that's why I LOVE REI!!!