New House Flip (#214) Purchase Bought From the MLS After Multiple Offers (11/20/20)

I bought this house flip from the MLS after failing my first couple of tries. The house was built in the 1950s and is not in bad shape, but needs updating! The house was listed on the MLS for $250,000 and I made a few offers before we got it.

I first saw the house come on the market and thought it was a good deal, but not quite good enough. It went under contract right way and I forget about it. Then it came back on the market again, and I decided to take a look at it. I made an offer of $220,000 but the sellers said the lowest they would take is $240,000. That would not work for me so I forgot about it. Then it came back on the market again and I offered $230,000. After looking at comps the neighborhood had seen a recent uptick in prices. They told me the lowest they would go is $240,000 so I forgot about it. It came back on the market again, and I again told them I would do $230,000 with no inspection, contingencies, etc. They said they would do $235,000 and I agreed.

We have sold at least three houses in this neighborhood in the last two years so I know it well! This is one of the bigger houses and it should sell quickly. I am hoping to get $325,000 and we will spend $35,000 in repairs with another $25,000 in other costs for financing, carrying, and selling.
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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped close to 200 houses and routinely flips 15 to 25 houses a year. Mark owns 170,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
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Видео New House Flip (#214) Purchase Bought From the MLS After Multiple Offers (11/20/20) канала InvestFourMore Real Estate