Anyone who wants real estate escapism, let me say !! (Just .. you do not have to say, I anyway…

Anyone who wants real estate escapism, let me say !!

(Just .. you do not have to say, I am writing the post anyway)

*** A story about improvement, impulsivity and stupidity ***

So the property in the picture, we bought last January for $ 100,000.

Anyone familiar with my activities and the Cleveland Hts neighborhood knows that relative to the tin areas (d) God I usually invest in, Cleveland Heights is cotton candy.

So when this duplex came to me, in excellent maintenance condition and with a Cash Flow potential of over $ 2000 a month - I knew there was a deal here.

Emma (is that how you write Emma? What's that weird word?) - with potential cash flow not going to the writer.

We knew that in this deal, to maximize price, the improvement we would have to make to the property was not a physical renovation, but a cash flow renovation.

In other words - to turn two paying tenants, a psychopathic tenant who is going to murder us, into normative and happy tenants who receive subsidized rent from the state (Section 8 program for those who are interested in it. Tachles is not that interesting).

To Mike Long Story Longer - The improvement process that I thought would take two weeks ("What's the problem with talking to the tenants, signing documents, and living happily ever after ???"), actually took 5 months.

Why? Do not know. I really do not know.

But every day that passes in this business I realize that even the simplest thing, is likely to get me into trouble.

** I'm moving with you to the part of impulsivity and stupidity, okay? **

Remember my post about the chasm between doing and success?

So all the emotional turmoil and depressing vibe of this post, I spent on this poor property in Cleveland Heights.

Once the property was ready for sale, all I wanted to do was meet the success already. Sell ​​the property .. and fast.

So I decided to put the property on a contract of market at 139K, even though I believed the property was worth about 150K.

Then just for the sake of the piece, we uploaded it to the market at 145K to see what happens.

What happened is that in the 6 days that the property is in the air, we received 10 cash offers starting from 150K north ..

Emma (this is officially the weirdest word in the world) - I'm stuck with a 139K contract.

** Morality of the Children - Do not make business decisions from an emotional place, and listen to the guidelines of the Home Front Command. **

Link to the original post in the United States Real Estate Forum on Facebook - Works on a desktop computer (To view the post must be members approved for the forum)

The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion