I am an affiliate of a “I Buy Houses” website and received a lead from a woman who had recently lost her job and was thinking of selling her home. Based on the information submitted – – 3 bedroom/2 baths, located in a desirable part of town, and most importantly, that all she was asking for the house was the amount of her payoff ($60,000.00) my attention was peaked.
I quickly contacted the homeowner and informed her that I was ready to meet with her whenever she was available. She informed me that she was not interested in selling yet and that she was looking for a job. I gave her my contact information and told her that I would be in touch. And be in touch I was. I called or emailed her every 2 weeks to followup on her progress and express my continued interest in purchasing your house. Well, after about 4 months she called.
We did the deal on the spot (I did a title search, prepared a warranty deed and brought my notary with me) taking the property subject-to. After about $5K in fix up (pressure clean the exterior, new interior/exterior paint, replace wood rot, new carpet, new light fixtures, new ceiling fans). I did the light rehab in 3 weeks, put out a sign, and sold it the next day for $129,000.00. I walked with a nice $60,000.00 after closing costs. Persistence pays.