Happy New Year Reader!
I’m excited to share some behind-the-scenes details about my latest deal—because it shows you don’t need a dozen offers or perfect timing to find a great deal.
This deal breakdown is so juicy that it will take 2 emails to share all of the details, so stay tuned to next week's newsletter for part 2 of this deal!
Ok, back to the deal breakdown 👇🏾
ReaderHere’s what happened: I just closed on a property for $59k under the original asking price—and I did it with just one strategic offer.
Here’s how it all started:
One night around 3 am, when I couldn't sleep, 🙈 I was scrolling on Redfin (as always!) when this property caught my eye. I had seen the listing before, but they had a recent price reduction, and the price was very competitive for the market. After opening the listing and reading the description, I realized that this could either be a good property to flip or potentially move into for my family.
It checked all the boxes for a great deal:
- Original asking price: $469k
- Current asking price: $439k
- Days on the market: 69 🚩
- Previous contracts that fell through: 2 🚩
Most people would have written it off, assuming something was “wrong.” But I saw the potential—and knew it was time to make a move. I ran the numbers to potentially flip the property or keep it with my favorite deal analyzer, I'll post the link here. Then I scheduled a showing to see it later that day.
After walking through the property and estimating how much the renovations would cost, I submitted an offer of $59k under the original asking price.
-Now submitting lowball offers all over the place is not something that I normally would recommend on any property.
What made this property a perfect candidate for a lower offer was that it had the Big 3- Long days on the market, more than two recent price reductions, and a motivated seller.
Just placing lowball offers without these metrics can just waste everyone's time but this deal had everything that I look for in negotiating great deals so I shot my shot!
The seller initially declined. But when she didn't get the offer that she wanted, I circled back a week later—and my offer was accepted!
Here’s what made the difference with my offer:
- The property sat long enough to make the seller motivated.
- My offer wasn’t the highest—but it was the one with the best terms.
- I leveraged alternative financing with an investor loan to close quickly.
I’ll break down all the numbers and share exactly how much I put down and how I financed this deal in Part 2 of this email series—so keep an eye on your inbox.
And here’s the best part: Not only did I purchase the property with instant equity, but once I’m done with the renovation, this property will be worth more than $100,000 than what I paid for it!!! That's instant equity baby!!!
I can’t wait to share the full story with you next Sunday in Part 2!
Stay tuned,
Reader
P.S. Want to know what I look for when scouting discounted properties? You should register for my 5-Day Challenge coming up January 20th-24th! I'll be teaching the strategy I used to find value-added properties and MORE!! Join me and invite a friend. Register here.
Real Estate Tip Of The Week: Review Your Portfolio to Maximize Returns
As the year comes to a close, it’s the perfect time to sit down and review your real estate portfolio.
Don’t just collect rent and pay the mortgage—Know how much you're actually making!
Assess your income, expenses, cash flow, and overall property performance. If you’re not analyzing the numbers, you could be losing money or leaving potential profits on the table. Is your property meeting your financial goals, or is it time to consider selling and reinvesting in something more lucrative? I dive into this topic in-depth on Episode 24 of my podcast, Should I Keep My Property or Sell? Listen here. Taking the time to evaluate now can set you up for a more profitable year ahead!