You hear this a lot that Real Estate Investing is a relationship business and it is so true. It pays off big time to keep good relationships with people you work with. Take care of people you work with and they will take care of you.
This week is a perfect example of how keeping good relationship with people you work with will pay off for you. Since I started investing, I have been working with the same title company for pretty much all the transactions. I would say I have done well over 90% of my transactions with the same person at the same title company and I can’t even tell you how much that has paid off.
This week alone I have purchased a property and put another one under contract through referrals from the escrow officer that I work with. The person we work with at this title company got contacted by couple of sellers who were looking to sell their property and she contacted us. We went and looked at both of them and put them under contract.
Below is the video of the house we put under contract yesterday and hopefully, should be closing next week:
The house is a 3 bed/1 bath with 1 car garage in Hammond, Indiana. The owners had started working on the house but due to some financial and personal issues they weren’t able to finish the house. The seller has a mortgage on the house and she just wanted to get rid of the house without bringing any more money to the table. The mortgage payoff is close to the max we would pay for the house so the numbers made sense.
We went and looked at the house and overall it is decent shape. Needs some TLC to bring the value out of it. We will probably convert this one into a Turnkey Property and sell to a happy out of state investor.