This deal also came from one of our direct mail campaigns. However, it was 6 months of consistent follow-up after the initial conversation that let us get the deal done. They were asking a little too much in the beginning and were also not quite ready to really pull the trigger. They also were trying to show the house to other investors but were having trouble getting them to buy it because it had a tenant with almost a whole year lease left. When they finally decided to give us a shot, we gave them a offer they liked, funded with a repeat private lender (so no money out of pocket) in a couple of weeks, and most important we are currently refinancing this house and will be pulling $20,000 cash out and cash flowing $200+ a month.
How did the FortuneBuilders team and resources help you to accomplish this deal?
Always network and know your exit strategy. Knowing how to leverage your lenders will get you paid well to buy a rental. Now tell me how many rentals can you buy it you get paid $20,000 to buy them and don't have to do any work to it?