Today I realized searching my real estate multiple listing service that I had bought a home that a guy had only paid $80,000 for.Of course the home was in bad condition and he spend quite a bit of dough fixing it up.
He sold it to me for $154,000 just 3 years after he had bought it.
This was a good deal for him because he took something and created value by putting in a lot of sweat equity, and then flipped it to me.
I in turn did a lease option and sold it for $170,000 without doing any improvement at all on this.
The moral of the story is that you can combine multiple real estate strategies, and everyone can benefit.
He did more of a rehab strategy.
I did a retail lease option strategy. We both made money and we are both happy with what we have.
If you have a home that want to sell that was a really really good deal. I might be interested in buying it or might know of someone that is interested.
Thanks Burke Bennett
http://www.seidahohomes.com
208 589 5599
burkebennett@hotmail.com
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