Lance and I have been having pretty good success with getting the phones to ring from our direct mail marketing. This represents and huge step forward from where we were back before the new year. On average we are getting 10 to 15 calls a week and the amount is only limited by the number of mailers I can afford to send out.
Out of the all the callers, we end up looking at about 2 or 3 houses a week. We only look at the houses if the seller would consider our initial ball park figure. This is to keep us from wasting our time and looking at houses where we have no shot at getting. So we are basically making an initial offer to anyone willing to sell and then seeing the house if we are close on price.
Yesterday Lance gave me a call in the middle of the afternoon, which I thought was odd because he normally just emails me. His first words were…”I am so excited I needed to call you right away…” This obviously peaked my interest.
We have actually agreed to a price on a house! The owner said she just wants to walk away from the property and is willing to take our offer of $120k. The offer is contingent on us getting into the house and doing a repair estimate. The owner lives out of state and won’t be up until May so that is when we will make everything final.
A question I have for anyone who might have an opinion. Could we use an option contract to temporarily lock this property up now? And if so, does anyone have one handy they could lend out?
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