Brian and John talk about an investment property flip that they closed on earlier this year. This property was quite unique. The sellers approached the guys after receiving a mailer and had a large, modern condo they wanted to sell. It was smooth sailing up until the day before the deal was set to close.
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Covered Topics:
- Taking time off work.
- Flipping the condo that had a lawsuit against the builder.
- The risks of buying such a condo and hesitation from lenders.
Show Notes:
- 00:42 - Recent happenings.
- The benefits of taking time off from work.
- Delegating responsibilities.
- Two houses that the guys closed on last week.
- Selling a house to an investment company.
- Other properties that are in contract this month.
- Security camera theft.
- Filling the Acquisitions Manager position.
- 08:29 - A flip that the guys closed on a couple of months ago.
- Sending mailers to absentee owners.
- Determining the price of the condo.
- Getting a call from the investor bay before the deal.
- Making the deal happen.
- 13:58 - Listing the condo online.
- A lawsuit against the builder of the property limiting the number of willing lenders.
- The risk of raised rates from the HOA.
- 16:18 - The final stages of closing.
- A second lawsuit being filed.
- Why the sellers reached out to Brian and John in the first place.
- Making profit after all the adversity.
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Topic Takeaways
- Take regular vacations to rejuvenate yourself and help your business.
- Help buyers become aware of your listing’s disclosures.
- Have a network of lenders to reach out to so you can find the right one.
Tweetable Quotes
“It can be difficult, and sometimes it can seem like you have to be [at work] every minute of the day, but try to get out and give yourself some time to refresh and rejuvenate.” (Tweet This!)
