Best Deal I ever Did?

What is the Best deal you have
ever done in Real Estate?

Share the “Nitty Gritty Details”
with us.


I got appointed to Warrant Officer while I lived in ahouse…does that count?



Have you been drinking again Sir? :beer

Not “again”, “still”!

Sometimes you make me laugh . . .

Thanks buddy! :biggrin

So far it’s my latest. Single family worth 60K right now. I paid 30K, it was an out of towner inheritance that called my ad. There nice homes in the 100K area on just about all blocks surrounding this area and two on the same block are currently under construction. Today, a couple came up to me and asked about the house next door if it was for rent. I said no but mine will be in a few weeks, when i mentioned somewhere around 650 they asked if they could give me a deposit to hold it right then and there without looking at it(sometimes a red flag). Instead I had them complete applications. I told them it might turn out to be 700 a month and they seemed ok with that too.

Vacant house in shambles with 16K tax lein. Bought for 5K, rehabbed for 3 weeks $22,722. Comps in street $110-$125. Couple stops by house as we’re putting landscape and ask how much? I said make an offer - $98K-SOLD. Closed w/my daughter’s M-I-Law real estate broker for $1k commission. Vacationing on Maine coast this summer.

It’s not the BEST deal I ever did but it was a good one to remember…

I received a call from a homeowner facing foreclosure. The house was run down and they wanted more than I was willing to pay. But…as always, I told them I would come by and look at it. My father was taken to the hospital at the same day and time I was to look at their house.
I blew it off and made sure my dad was OK. The next day I called them and apologized for not calling to re-schedule (I usually NEVER miss an appointment)

I could tell from the owners tone he was a little pissed off. (rightfully so) I made an appointment for the next morning and on my way stopped at a very popular local restaurant and picked up a gift card for them.

I explained after I looked at the house that I could only pay them XXXXX for the home, but could close in 5 days. I then gave them the gift card and apologized for not being able to keep the original appointment.
You would have thought I gave these people a winning lottery ticket.

I ended up buying the home at my price, and found out that they had been living in the home with no electricity or heat for 6 months. The owner later told me that they made their decision to sell to ME over the DINNER I HAD PAID FOR!!!

I made $75,000 on that home in 62 days!!

I now include a $25 restaurant gift card in any letter I send to an owner of a home that looks like it’s abandoned or in need of extensive repair. I do qualify these leads BEFORE sending the card, and I have to say… I’ve cracked some pretty tough nuts using this technique. These people get letters from “buyers” all the time. BUT…Not many of these buyers are BUYING THEM LUNCH!!! When compared to what I spend a month on advertising, this amounts to a drop in the bucket. All I want is a foot in the door, once they give me that, I can usually convince them to sell me the home.

Keep that one in the hairy file cabinet on your shoulders.

The one I’m rehabbing now. A six unit being converted to a 5 unit mixed usage. Bought it for 22K, it appraised for 208K upon purchase. Worked at getting for my price over a year. Originally it was listed with an agent for 230K, dropped to 195K, then to 150K, slipped into foreclosure and I bought it directly from the bank for 22K. Last rental income stated on the schedule E was $2700 a month which I should be able to match even with 5 units.

Four years ago I bought a 4-plex (duplex and 2 cottages) for $52,000, all 1-bedrooms. They were very run-down and the owner had had a stroke. Druggies were selling dope using the alley electrical box as a drop-off/pick-up site.

I asked for owner financing and got them to defer all payments and interest for 6 months until I could fix up, fully furnish, and rent out the first unit.

Now 1 unfurnished cottage still has the original tenant. I have raised his rent from $300 to $450/month and he now has to pay everything except water.

The other 3 units are renovated inside so they rent for $1800 each. I pay utilities of $300/month each.

Monthly rents=$5850
Mortgage P&I=$ 488


fantastic idea-gift card.

I agree I would like to use this idea myself, nice job! :beer