After the Grief, Love was in the Air
A couple of years ago I met with a man I had know very well growing up. We went to school together. I remember he had been incredibly smart. He would blow off Chemistry and still make all A's.
It had been a while so there was much catching up to do.
He had had some successes but he had also had many failures. He was living in a hotel and selling the papers on the corner of a major intersection. He had stopped drinking a couple of years ago so he was headed back in the right direction.
The reason for our meeting was sad and happy at the same time. His father had recently passed away. It was sudden and they had been estranged. But his father had left him some money.
He wouldn't be rich, but he could, hopefully, use it to continue turning his life around. If we searched carefully, we might be able to find a couple of condos that he could rehab and then resell at a profit.
The plan was to eventually own a couple of rentals and then something for himself.
We got busy looking and quickly found a little one bedroom for $13,500. I know. Crazy low price.
Believe it or not, the complex was not that bad. The units sold for low prices because Buyers couldn't get financing on them. They're not FHA approved and are almost all rentals.
This unit, in fact, had a tenant in it paying $450/month in rent. We found ourselves in multiple offers but managed to win at full price and a quick closing.
Two weeks later he closed paying cash and went to meet his new tenant.
In less than a month we had another property, a foreclosure, under contract that he could live in while he did the rehab.
Fast forward another year, he is starting on his third property. His father would be proud. Yep, love is in the air.