This was a For Sale by Owner that came to us when a local store owner we got to know asked about our new real estate business and if we might be interested in looking at their home. This friendly relationship allowed us to bring in an inspector and contractor to help us evaluate this potential deal. After agreeing on an acceptable price we were able to use a private money investor we had previously worked with to fund the purchase. We used our own funds and some other private money for rehab costs.
How did the FortuneBuilders team and resources help you to accomplish this deal?
We relied on the same knowledge, information and support provided by FB to evaluate and proceed forward with this deal. Of particular significance was the fact that we were negotiating with an older couple we had come to know and like. Although not in foreclosure and able to continue living in the home, they were hoping to find some relief that we could provide. Instead of trying to take advantage of the situation, we provided some additional help in closing and moving costs and even invited them to see their renovated home. As is often discussed among FB students, doing the right thing is worth more than a few extra dollars!!