I bought one!

A few weeks ago we had a foreclosure come on the market at a great price. I called the buyers I had at that price point and showed it to them. For one reason or another they did not buy it. I was talking about the listing with another agent in my office who told me what a great deal it was and that he had someone to show it to. For some reason they did not buy. So a plan was formed, We bought it!

Our thinking is if we are running around telling everyone what a great time it is to buy we should prove it. I can not see how we can go wrong. We bought well below today's market price and we can get it fixed up and still be well below today's market. The best thing about the house is that after we get it ready to go our price point will be at the hottest price point in our market. We have two choices. Choice # 1 Sell for a profit, choice number 2 rent it. We are very involved in the rental market and we can rent this home for a positive cash flow. At least that is what we think.

Now we get to follow all that advice that we have been giving to our clients. My business partner had his wife look at the home after we bought it to give us decorating tips. Even this is part of our number one rule of real estate," Always please the lady". We did not want to end up with just a man cave. The clean up has started, the plumber and painter are on the way. Everyone from the inspector, closing attorney and all vendors we are using to do the work are on our list we recommend. The house is a house we recommended our clients buy. If we can not follow our own advice how can we expect anyone else to?

Now we will know for a fact if we are giving good advice or not. I think we are in good hands. Wish us luck:)