By Olivia Rush, September 12, 2023
This lemon meringue ranch has SOLD!
I met Scott through his previous tenant last year when she tried to purchase the house from him. There were quite a few issues with the home, so she ultimately pivoted and ended up purchasing a different house.
Scott purchased this home nearly 20 years ago. It’s been a great investment for him and an affordable place for all of his tenants. He kept the rent well below market value. We love a win-win.
So when it came time to sell, Scott knew that he needed to invest in his investment before listing it. He splits his time between the states and Mexico, so after we met, he handed me the keys and let me do my thing.
Knowing we’d be marketing to mostly first-timers, I got to work gathering bids for repairs we knew would be too overwhelming for most to handle. We knew we’d be able to market these recent updates and calm some nerves in doing so.
Scott trusted my recommendations and didn’t balk at the costs. He signed proposals and paid invoices from Mexico for the foundation, electrical system, roof, interior/exterior paint, and a bathroom facelift, while I project managed for two months to get the house ready for market.
Instead of listing as-is at $350K, we listed at $390K and received 5 offers. Because of all the recent work we had done, most buyers included repair verbiage in their offers, limiting the amount of repairs they would ask for.
We ended up at $405K. Scott invested about $25K and landed $30K higher than he was hoping for with an as-is sale. This is a perfect story of the power of listing prep. (Of course, gorgeous photos by 22 Pages and immaculate staging by Roughhouse helped, too!)
Not everyone has the capital to invest in improvements before listing their homes, but your realtor should help you identify and prioritize the improvements that will be most cost-effective and attract more buyers.
I’d be cheersing Scott with a pina colada on the beach right now if I could. Congrats on the sale of your investment property!
Olivia Rush
Broker | OR
She/Her
As your trusted guide through the buying or selling process, you can expect me to customize my services to your specific goals and preferences, much like I did for my students during my ten years as an educator.
My clients’ goals vary. A couple retiring to the Big City after 30 years on 22 acres. A woman purchasing her first home independently. A couple upsizing to support a growing family. Two friends pooling their resources to make their first investment possible. A couple navigating a divorce and the sale of their home. A refugee family with limited English setting down roots in this country. Deaf investors looking to maximize profit on their flip. A couple selling the home of their daughter who has lost her battle to cancer. A family relocating from across the country and buying sight-unseen.
These situations all require unique, dynamic, and holistic approaches. Everyone has different needs, and it is my top priority to meet my clients where they are. For me, real estate is not transactional. It is deeply personal and inevitably life-changing.
While each client requires a tailored strategy, my work ethic is unwavering. With me you can always expect organization, tenacity, responsiveness, dedication, and hustle. A gatherer of resources, a communicator of all options and possible outcomes. As your advocate, I will be brutally honest so you know what to expect. A skilled negotiator, I’ll consider every angle with your dreams and goals in mind.
My clients often end up feeling like family. I am honored they trust me enough to return to me as their needs change and refer me to their friends, family, and communities.
What are your real estate goals and dreams? Call or text me so we can meet to discuss your vision.
Curious about the home-buying process in Portland? Click here to sign up for one of my free The How To Buy A House Class™ classes!
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- T: 207-240-8837
- oliviarushpdx@gmail.com
