I need to write this down because I still can’t believe it. Bought a property for $75 I couldn’t really find it on the map in the little time I had to research it. It looked land locked if that was the property so I figured I would mail letters to the neighbors to sell it. Made the offer so the seller would defiantly not accept it. He did. Got the notary confirmation that he signed it yesterday so I put it up for sale about midnight last night after reading the legal description and figureing out it actually has a right of way out to the paved street. At 5am this morning a buyer calls out of breath from the property (he is on the east coast, i’m on the west coast). He wants it. Not my cash price of $2,900 no he wants the $100 down and $100 a month for 70 months plan. That is $7,100 in payments for a property I just paid $75 for.
Got the signed deed back in todays mail. Sold the property after the notary called and before it got overnighted back to me.
I still have to pay to record it($15). The notary is pretty much covered as I bought a bunch of land in the same signing. Back taxes are about $250 but I can use payments to pay that. Later on some day recording to the buyer I said I would pay($15).
All in $355cost. If he pays all the way it is 19X my money. His $100 down essentially covers my out of pocket cost.
Now if I can get all the deals to go that fast!
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