Real Estate Investing: Always Have a Back-up
By: Bruce W. Ford
Over the last two weeks, events have unfolded that have reminded me of an important truism in real estate investing.
Always have a back-up!
This was played out in dramatic form with a deal I'm closing tomorrow. A wholesaler friend of mine brought me this great little three bedroom one bath home tucked away on a dead end street where pride in ownership is alive and well. The electric and plumbing is already upgraded and this rehab is cosmetic with the exception of adding a bath.
I'm buying it for $52,500 and the as-repaired appraisal came in at $86,000. Not a bad spread. This is the kind of deal I like!
When I called my hard money broker, she was delighted and we moved quickly towar...
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