Today, again, for the 900th time, follow-up proved to be the KEY to getting a deal done.
Here's the scenario: out of town owner I had reached via a mailing (YELLOW LETTER - and if you want info, email me and I will send it to you...KILLER way to get calls from out of town owners!) had agreed to an option on her property. It's a wholesale deal and probably close to $30,000 in repairs and Tom, Kevin and I aren't equipped for rehabs - we're into getting in and out quickly and leaving profit in the deal for the guys doing rehabs...There's $20k in profit from just our part of it.
I called her, reminded her what we're doing, what she'd agreed to and the very next day...an overnight letter shows via DHL with a signed option agreement.
Good as COLD, HARD CASH.
Had I not followed up with her and just gently nudged her along (no sledge hammer needed), who knows WHEN or IF the deal would have come through.
Anyway - 'nuff for now.
A quick plug here for my apartment and commercial property bud, Darin Garman. If you're NOT a member of his CIPOA, then visit www.garmanupdate.com and get more info. It's a no-brainer.
Darin has facilitated over a dozen units for me personally, to buy, this past year.
Check it out. Tell him I sent you. I don't get a commish or kickback...just good advice from one solo entrepreneur to another. Just do it!
In the next couple days, I have to make a trip to the coast for family reasons, but while there, I'll be looking into a property that's a full city block, across from a major development (think medical) where the owner's in deep and needs a life raft from his sinking ship.
My best to you and...Go Make An Offer!(TM)
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
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