My competitor and I have been battling it out for a while now. He actually copies my Craig’s List ads almost word for word, and we often get some of the same calls from sellers. A few times I had the urge to tell him what a scum bag I thought he was.
I always txt him when I slam a deal and this last time he says things have been slow, of course I had to brag about the half dozen deals I had completed recently and about my new cash buyer that will buy almost anything I throw at him…
Then, later on, out of the blue he calls me to say his only deal he has on contract he can’t find a buyer.
It was a nice older home in an older neighborhood that was rented and the seller and the tenants were in a serious dispute.
He said he had it on contract for 72 K and I said, wow, I dont know if my buyer will pay that much, cuz were looking for fixers under 40K -50K
I told him I wud add 5K to the price and run it past my seller and that will give us $2,500 each, he readily agreed and I sent him an agreement to sign.
I ran it past my seller and he said it seems kinda high, I told him yea I know, but it will be good deal for a landlord type buyer. Its priced about 20-30K under FMV.
The next day my buyer says he will take it. It’s scheduled to close this week.
This is a good lesson for me, be friends with everybody, even my dog eat dog competitor.
It could be profitable.
Let’s make some MONEY… Rando
Our deal finally closed, it was in Escrow for what seemed like forever 5 or 6 weeks.
Seller was threatening to back out, my competitor and I were annoyed and frustrated, my buyer the Realtor/Broker/Investor said he was getting dramo from his buyer over some other deal they did.
Anyway, were picking up our checks today, Alan my partner on this wants to meet up and have a good meal, I wonder if that means he’s buying?
I was thinking about how this deal went down and how it was probably the easiest money I have ever made.
When it comes down to it, all I did was email my buyer about this deal, my buddy Alan did the marketing and got the house on contract for 72K I added 5K and then sent the address to my buyer.
Can you imagine making frikin $2,500 dollars by sending an email and property address to my buyer? If I hadnt of done it myself, I would never have believed it.
Of course I had my partner sign my partnership agreement and had my buyer sign our assignment, probably didnt need to, but it’s best to have everything spelled out.
Let’s make some MONEY
Rando