Tag: gay realtor

Flipping Houses: 2023 Interview with Bobby Curtis

Posted on by Bobby Curtis

Flipping Houses: Interview with Bobby Curtis Part 2.1

Looking back on the interview and my responses from 2019 on house flipping was interesting. I remember lessons I’ve learned from the houses I have flipped since 2011. But I’ve learned quite a bit more since 2019 as well. Not just because I have remodeled and sold more houses myself, but because I have helped others start their flipping business and represented them as a real estate broker. So, I’ve been able to learn even more from them. Some things they have done  how I would have, and others done differently. I’ve learned from both and would like to expand on the responses I had based on the experiences I’ve had since that interview. 

1. WHAT ARE THE KEY FINANCIAL CONSIDERATIONS REAL ESTATE FLIPPERS SHOULD THINK ABOUT BEFORE THEY BEGIN A NEW PROJECT?

I didn’t have a bunch of money to start my business when I began in 2011. What I was able to do is get creative with financing. Borrowing money is actually one of the easier components, which I wasn’t expecting. There are many private money lenders out there who want to lend people money to restore houses. They have a cap, of course, on how much they will lend. That’s partially based on how much work and money you plan to put into the house, and it’s after repair value (ARV)- basically what it’s projected to be worth when your finished. 

Generally, you will need to start making payments on the loan you borrow from the private money lender within 2-4 months, so make sure you have enough money to start paying that back if you haven’t finished and sold the property yet. 

2. HOW DO YOU DETERMINE A BUDGET WHEN IT COMES TO FLIPPING A PROPERTY

When I look at house, I begin to determine what to do with it by seeing what nicely remodeled houses look like that have sold in the area. I am a data junkie. It’s worked for me, and it gives me confidence that people are already going for it. The ideal scenario is when you buy a fixer house, there are many ARV comps (comparables that represent what the house will look like). These comps show what designs trends are selling, how people are using spaces in a house, and what the overall property has to offer. 

If I’m coming into this field with no experience, I should rely heavily on these comp houses. They will be a good guide for what I should consider doing to this fixer house. And that is the beginning of my budget. I start to determine the cost of each update, upgrade, improvement in the house to get this house on par with the comparables I’m looking at. One question I have gotten a lot while clients have been remodeling houses is “I’m trying to decide between putting in this or that in the house”. Before I give my personal opinion, I ask them to go back to the best ARV comps we looked at when they bought the house to see what was done there. This usually gives enough insight to help them make the best decision.

3.WHY IS PROJECT MANAGEMENT SO IMPORTANT IN HOUSE FLIPPING?

I have not met a house flipper who is not a good project manager. The job is dynamic. There are so many facets to it: budgets, design, hiring, collaborating, and constant critical decision making. You have to become a skilled conductor to do this well. That doesn’t mean you need to be an expert project manager when you start (but it sure would help). A good project manager, and generally one who has something at stake, can make or break a profitable house flip. If you decide to hire a project manager, they need to have some kind of bigger incentive to make sure the project runs smoothly, great contractors are hired, timelines and budgets are followed. But honestly I’d rather you just be the project manager yourself, and get some help if you’re not great at it in the beginning. Nobody has more at stake than you.

As a project manager, I have had clients ask me what they should do in one circumstance or another, and even if I would make the decision for them. I can’t. The most I can do is tell them given the information I know, if I were in your shoes I think I would do this. But, everyone has a different set of circumstances, priorities, and risk tolerances. That’s important for you to balance out before making decisions.

Another thing- you might have a great design, but if you blow the budget and timeline, that design better be the VERY best to support someone paying tens or hundreds of thousands more for the house because you went so far over the budget and timeline. And it’s possible someone will. Just know it’s a risk.

 

4. WHAT ARE SOME KEY MISTAKES THAT CAN MAKE HOUSE FLIPPING A FLOP?

I stand by my original answers here but will expand on them.

A. Putting in materials and finishes that don’t work. Make sure people are already buying houses with the design ideas you are using. In this field we have so much at stake, so we are constantly looking for ways to mitigate risk. Having data- ie comparbles that show what materials and designs others have put in houses that have sold for prices we’re looking to sell our house for is important. If you decide to venture off to a new or different design, it’s okay. Just know that you are adding a component of risk since we don’t have that kind of data to support it. What makes me feel more confident with your non-supported design choices is if you’re already a successful designer or you’ve hired one to help with your remodel. That of course, brings those risk levels down. 

B. Buying a house with no good comparable houses. There are different levels of comparables. The best ones are close by, same era, square footage, style, with same size yard and amenities. There is no perfect comparable but we want to get as close as possible. The idea here is we want to decrease the number of variables between our house and the ones that have sold so we have a more than a strong intuition of what we can sell this house for when it’s finished. Did I mention I’m a data junkie? J

C. Putting a house up for sale before it’s 100% complete. Please don’t. Sometimes you’ll have success with it, but in the long run I have found it’s not a great idea. This is such a big investment for the end buyer. Generally when we list these remodeled houses, they are the most expensive houses in the neighborhood, outside of new construction. If someone is going to pay the highest price, they want to walk into a house that is completely buttoned up. We never know what people will cling to, or what will leave a lasting impression (good or bad). If something is unfinished, buyers will put together stories in their head and wonder why it isn’t complete, or why the rush to put the house up for sale. It just leaves a lasting bad impression that they may not even able to put their finger on. 

D. All D-I-Y work. You may be a skilled craftsman, carpenter, or extremely handy. Even if you are, it’s unikely this is going to be convincing enough to me for you to do everything. While you may love house flipping, it is a business, and timelines are important. If we’re looking at ARV comparbles that sold three months ago when you buy the house, and it takes you a year to remodel the house, then we are essentially relying on 15 month old data for what the house should be worth when you’re done with it. Real estate markets can change so much in that period of that time. I don’t want you to rely on getting lucky that the market will improve for sellers in that time.

E. Taking too long. See above.

5. ANYTHING ELSE TO ADD?

Be curious. Be a self-starter. Spend time wandering around neighborhoods. Go through open houses to see what houses that are going up for sale right now are going for and what condition they’re in. Join a real estate investor group so you can see and hear about what other investors are doing locally. You can also learn about some of the nuances that make house flipping unique in the area you live in. Hire great people, and people you enjoy working with. Now that this is your business, these are the people you will be spending a lot of time with.

If you missed the original Interview Part 2, you can see that here.

This Saturday at 7am, Sesame Street Town Hall on Racism!

Posted on by Living Room Realty

Our hearts are so heavy right now and I’ve been thinking a lot about how to talk to my kids about racism.  I’m excited to see what Sesame Street does with this.  Tune in this Saturday at 7am.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/06/02/us/cnn-sesame-street-standing-up-to-racism/index.html

Lucky in the Time of Corona.

Posted on by Living Room Realty

My buddy Lauren bought her house in Woodlawn back in 2009 and lived there with various roommates and girlfriends for 10 years until she moved into her girlfriend Karmen’s house a couple years ago.  Since then she’s been renting to friends until she figured out what she wanted to do next.  When she told me a few months back that she was thinking of selling we made a plan to get the house spruced up and get the tenants sorted out so we could hit the spring market.  We made a punch list for the handyman, lined up the painter, and Lauren, being an electrician, installed some new lighting.  The place was looking good.

Simultaneously,  some friends that work for Equal Exchange came into Sloans for happy hour back in January.  One of them, Shawn, was telling me she and her girlfriend, Raina, were about to get pre-approved and start looking for a house.  They wanted a 3/2 and figured they’d have to be looking pretty far out to get that in their price point. I mentioned to her that my friend Lauren was getting ready to sell her 3/2 super close-in and around that price range and that I’d let them in for a sneak peek before it hit the market.

So fast forward to March, we had everything ready to come on the market mid-month and shit starts getting serious with the Corona.  I had shown Shawn and Raina a handful of houses all over town but they weren’t finding anything they liked.  They really wanted to see Lauren’s house before it came on the following weekend so I took them through it and they wanted it.  I talked to Lauren to see if she’d be open to selling off market and she was excited about the possibility of an easy sale and keeping it in the community.

When a situation where two sets of our clients enter into a deal together,  my business partner Teddy and I split off from each other and represent one party each.  That way, there’s no conflict of interest and both sides are represented fairly.  I worked with Lauren and Ted worked with Shawn and Raina.

To accept an offer off market, it has to be enticing enough that you feel comfortable letting go of whatever possibilities a multiple offer situation might bring you.  Shawn and Raina wrote an attractive offer and Lauren took it.  The deal was super straight forward and easy.  There were a handful of things to fix/repair and we were able to get them done before the world shut down.  We were even able to close early.

So, that’s the story of my recent win-win.  Lauren was able to dodge the Corona bullet and Shawn and Raina got their 3/2 house in Woodlawn at an unheard of price.  My only regret is that I wasn’t able to work with those two, but they were in good hands with Ted.  Congrats my dudes!

Hometown Homo Gets a Homo of Her Owno!!!!

Posted on by Living Room Realty

This client needs no introduction.  Adrienne Graf is a born and raised Portlander with deep ties to the queer community, a champion for victims of sexual assault, and a loud as fuck renter’s advocate.  Not someone you’d want to get into a Facebook tangle with about renter’s rights because she will eat you alive.  She herself never thought she’d one day be a home owner in her town because of impossible prices for first time buyers.

Her brother is a mortgage broker and they had this idea that maybe she could borrow off her retirement account for her down payment.  Seemed legit so she started looking.  She sent me a house that had just come back on the market in St. Johns.  It was an adorable little 3 bedroom ranch and from what the listing agent told me, the previous buyer before us just got cold feet.  We checked it out and it was love.  I couldn’t really find anything wrong with it other than the electrical panel and a slightly older furnace. We were up against one other offer (so surprising with all the LIFT buyers) so we had to come up in price a few thousand but we got it!

Inspections went great and all was moving along until we found out that she was unable to borrow from that retirement account.  The deal was dead in the water until her brother, Thomas, being the saint that he is, decided he was going to loan her the down payment because he really wanted her to have this opportunity at home ownership and that’s what family should do.  It was one of the kindest acts of love I’ve seen in this business.

We negotiated a new panel and a tune-up for the furnace and Adrienne is now the proud owner of her perfect little witch cabin.  This was the best way to start off the new year and set the tone for what’s to come.  Congrats, paisan!  We did it!  Special thanks to Thomas Graf, the real hero here.

Firehouse Row – Living History

Posted on by Bonnie Roseman

Brendan and Mary landed a piece of the past!

Victorian in SE Portland
A Portland original

At the corner of SE Harrison and 7th Avenue a number of Victorian era homes have been carefully preserved. Originally built in 1893 as rental homes, shortly after East Portland was annexed by the booming City of Portland. One of the renters, Lee G. Holden, designed the adjacent fire station (circa 1913) and these houses were often home to firefighters who worked at Engine No. 23 and their families. The firehouse itself later made history as Oregon’s first medical cannabis dispensary and now their bud tenders offer medical and recreational weed.  They have maintained the original facade and some of the other architectural features of the old station. Commonly called Firehouse Row, the official name of this little enclave of Queen Anne lovely ladies, added to the National Historic Registry in 1989, is The George P. Lent Investment Properties. George, who was born in Portland in 1852 to the eponymous Lents family, of the Lents neighborhood, built the now famed homes.

Then and Now

When Brendan and Mary described their wish list for a first home of their own, this beauty with its turret, colored glass and other historic architectural details came right to mind. It was love at first sight. Navigating a VA loan, with all the extra requirements regarding property conditions, on an 1893 historic home, was a bit of a battle. Also, the home was being used as a short term rental, further complicating inspections and repairs, because we had to schedule all of our appointments around guest bookings. In the end we got it all successfully squared away.

Gracing the walls of the Airbnb, the sellers had some very old mounted photos of the house and neighborhood on display. As a wonderful gesture they left them for Brendan and Mary to enjoy. A very sweet gift! The block is still intact, providing a rare site of old, old Portland housing.

On their project list is repainting the exterior. Mary and Brendan contacted Bob Buckner, famed color expert of The Painted Ladies Revisited and other works on Victorian homes and he coded photos of the house to guide them through how to get the paint job just right. I cannot wait to see it!

References: Multnomah Pioneer Obituaries, Wikipedia, Placeandsee.com, https://www.cannablissandco.com/firestation-23-portland-or

Not a Murderer!

Posted on by Living Room Realty

I got a strange text from someone on a Sunday afternoon saying they were looking for a REALTOR® that was responsive and flexible with their time, was that me?  I said yes and they asked me to meet them at this vacant house the next morning.  I was a more than a little creeped out by their tone but I looked them up on Facebook and saw we had one mutual friend so I agreed to meet.  I told my business partner  the address and that if she didn’t hear from me by 10:30am to call the police.  Luckily, she was exactly what her profile picture looked like and not a murderer but you can never be too careful in my line of work.  I’ve seen and heard of some crazy shit!

She had gone to the open house that Sunday with friends and loved it but when we walked through it together and I pointed out the amount of work it needed she decided to pass.  I was relieved because it looked like a nightmare deal.  Hours later she called again and wanted to make an offer so I wrote it up.  The agent on the other end is an agent I’ve had several deals with and we have a good rapport.  We acknowledged off the bat that getting this house to finance and the amount of repairs needed would be very tricky, but we both committed to gather all the bids and do all the legwork to keep it alive.

This house might be the roughest one yet.  The only inspections we got lucky on were sewer and radon but the rest were enough to make a buyer run far away.  This particular buyer had been looking in her price range for close to a year and was using a first-time buyer program that was expiring so we had to make this work if possible.  We got bids on bids on bids and just asked for the world.  We knew we wouldn’t get it all but we knew what we needed to have to stay in the deal.Over several days of back and forth nail biting negotiations we got what we needed to make it work.

This year has been the year of really tough deals.  As the market is shifting, buyers have some negotiating power again.  It’s a good time to try to buy if you are on the edge of thinking you may have to rent forever.  Let me get you there.

When Not Pulling Permits Bites You in the Ass.

Posted on by Living Room Realty

 

My friends started their house hunt not thinking that they’d be able to find what they wanted in their price range close in North Portland.  We were looking everywhere from St. Johns to the 120’s.  Then this little 60’s remodeled ranch with 3/2 popped up in Kenton, the neighborhood they are currently living in.  It all seemed fortuitous that there were no other offers and ours was accepted immediately.  There was nothing glaringly obvious that would come up on inspections or so we thought.

Two big things came up on the home inspection.  The first was the newish roof must’ve been power washed at some point because many of the shingles were bald and had lost granulation.  Roof rule #1:  Never power wash a roof.

The second and giant issue the inspector discovered while crawling around the crawlspace, was that the foundation ended just before the giant master bedroom in the back of the house.  There was no way to inspect what was going on down there and that signaled alarms.  When you come across this it usually means that there was an addition at some point.  We insisted the sellers cut an access to that space to the crawl so we could have it inspected and when they opened it up there was only 4″ until you hit dirt.  Standard crawlspace code is a minimum of 18″.

This deal was looking dead.  Not only had someone built and unpermitted addition, but they hadn’t even done it up to code.  My buyers were actually ok with it being unpermitted, but they weren’t ok with the crawlspace clearance.  The only thing to do here was to find the fix and see how many thousands it would take to correct.

I called in one of the most respected foundation guys in town knowing that if I have to sell this down the line, the next buyer and agent will know the work was done by the best.  He concluded that the only fix was to dig it out to the tune of $13k.  That’s actually a lot cheaper than I thought it would be but still a lot to ask for, especially since the sellers claim to not have known about the unpermitted addition.

Many days of negotiations took place and were stressful as all hell.  We asked for the crawlspace and roof and it was pretty non-negotiable for the buyers.  The sellers countered with a tiny contribution and we continued to hold strong for the entire amount.  Things were not looking good by the 11th hour and everyone was on pins and needles.  The seller decided to let the deal die even though that meant his next purchase in Olympia would also die.  It also meant that since he now knew about this addition, he would now have to disclose it to future buyers.

Everyone was bummed and exhausted by this and probably a little relieved to be out of this relationship with the seller.  It was like dealing with an emotionally abusive ex.  But sure enough, a day later he came crawling back.  I hated even having to go back to my buyers with this again but he was willing to give them almost everything.  They were now on the fence because they had spent the whole night talking themselves out of the house and were already looking at other houses online.  After much deliberation they decided to stick with the house.

The only highlight to come out of this sale (aside from getting all the repairs) was that the house appraised $53k OVER asking price.  The buyers can feel confident that they made a solid purchase and we can all rest assured that the house will not be rotting from the ground up.  Aaaaaand, it’s finally over. Aaaaand I had a million drinks to get over this one.  zzzzzzzzzz

 

Not a bad paycheck!

Posted on by Living Room Realty

Our client, Kelly, came to us 4 years ago as she was just starting her plumbing apprenticeship.  She knew Portland probably wasn’t her forever home, but she knew she’d have to be here for at least 4 years.  She pulled out her savings and scoured the market for a cute small house in the not yet blown out neighborhood of Foster Powell.

In the short time she’s owned it, a community garden went in a block away, several cool restaurants and coffee shops, and they built a bike lane on Powell to slow the traffic.  Her mortgage was affordable enough that she was able to host refugees through Catholic Charities without having to charge them rent.

Now 4 years later, she’s a licensed plumber and wants to take off to Antarctica to scuba dive for a year.  She spruced up the paint and yard and listed it this spring.  Multitple offers came in and she made $80k over what she bought it for.

I can’t stress enough how real estate is,  in my opinion, the best tool for the working class.  It can create awesome rewards for short or long term investments and provide security for your future.  If you have to pay rent anyway, why not pay yourself?  There are several programs right  now to assist with low down payments.  Call me if you want help getting on a path to home ownership.  Love to help!

Best of Both Neighborhoods!!!

Posted on by Living Room Realty

Nestled between FoPo and Woodstock, you get the best of both neighborhoods! Remodeled bungalow on a corner lot with updates galore! Newer roof, panel, furnace, AC, paint, and windows. HUGE kitchen, proper dining room, master up with bath, fireplace, hardwoods, garage, and basement for storage. Yard is fully fenced with awesome southern light! Great walk score and food and shops at your fingertips. Open Houses Saturday 11-1, Sun 1-3pm.  Call me to see! 508-340-1456

The C-Word (in Real Estate)

Posted on by Bobby Curtis

The C-word is showing up in more real estate conversations lately. Well actually a few c-words: Cooling. Creative. CONTINGENT.

Yes, the hot seller’s market is now cooler. Higher interest rates and feelings of market uncertainty have contributed to a slower real estate market, and it’s time to adjust expectations. Buyers have the luxury of getting a little more creative with their offers, like including contingencies, and sellers may find themselves needing to be just as creative when marketing their properties. Let’s look at this from a couple of perspectives.

Sellers: Time to start getting creative. We’re moving into a more balanced market. There are more houses for sale, which means buyers have more choices and they feel they have more time to find the perfect match. The days of selling your house for cash in 24 hours with 10 offers are gone for now.

Make sure you’re working with an experienced agent who knows your neighborhood, and can offer an educated perspetive on what to expect in the coming months. This will help appropriately price and market your house, and it will sell more quickly. If you get one, consider looking at those contingent offers. Keep in mind many of those buyers are also motivated sellers themselves. Have your agent find out if the buyers want to buy your house as much as you want to sell it, first. If you go this route, have some patience. To get the highest price and best terms in this scenario, you’ll likely need to wait it out a couple of months for them to sell their house first.

Buyers: You can get creative too! Need to sell your house before buying? Include that contingency in your offer or ask for an extended close period. Even ask for what you want, what you really, really want. Maybe after seeing many houses you’ve found your 95% dream home. Consider asking the seller to make some concessions so you can afford to make those improvements right away, or even ask if they’ll make those improvements before it closes. It can’t hurt to ask, especially if your offer is the only one on the table.

This scenario played out on a house I sold last week. The buyers found their almost perfect home that these sellers had just remodeled. But, it was missing a few things (or rooms) to work well for their family. What sealed the deal? The extra bathroom and finished living space the buyers asked to be constructed in the the basement prior to close. Not only did the sellers come through on their wish list, this sale was contingent on the buyers house selling, too. Are you still following? So why would these sellers do that? First, they remodel houses for a living so it was in their wheelhouse. Second, the buyers were willing to hand their earnest money over to the sellers before closing so they could make these personalized updates for them.  Cool clients, contingent closings, creative considerations. All c-words on this one.

The market is changing. If you’re actively in it, you know that. Selling right now? Work with your agent to ensure you’re competitive and make sure they’re working creatively to get your house sold. If you’re buying, don’t pass up that 95% dream home. Just ask for what you want. The sellers will be glad you put a thoughtful offer together.

Bobby Curtis
Principal Broker
Licensed in Oregon
Licensed Contractor
CCB# 215071
503-502-3066

Living Room Realty ~ Year 1

Posted on by Bonnie Roseman

Last week marked the first anniversary of my joining Living Room Realty, which was a very big deal after nearly 26 years in the same office! Like moving to a new house after many years, changing work homes is exciting. Why’d I make a change after all of those years? Well, I decided it was time to align my workplace with my ideals.

The day I walked in for my first meeting with Jenelle Isaacson, the owner of the company, she greeted me with a warm welcome, a vegan lunch made of freshly harvested, organic greens and an invitation for Bender, my canine companion, to make himself at home.

Bender the real estate dog at work

Things I  about LRR:

  • It is a local, woman-owned company
  • Beautiful offices in awesome locations (Clinton-Division, Alberta, NW & Multnomah Village)
  • The Loving Room Fund for charitable giving (more on this in a moment)
  • It is very inclusive and gay friendly
  • It is super dog friendly
  • We are a B Corp (https://bcorporation.net/about-b-corps)
  • We recycle and even compost!
  • Awesome marketing materials to make listings fly
  • Great staff

Little things really make a difference to me. When you meet me at the office you’ll find that we use real glasses, mugs, and towels; skipping all the plastic and paper. By the way, we have a great tea selection, high quality coffee, and even soda stream bubbly. So, let me know when you want to come in and have a cup.

Did you know?

I donate 1% of every commission I earn through our fund to give back to my community. For the next three years our recipients are Rose Haven, Oregon Wild and Urban Gleaners. The really cool part is that when you buy or sell property with me, you get to pick which one of them I will donate to. Which is your favorite?

Rose Haven is a day shelter and community center serving women, children, and gender non-conforming folks experiencing trauma, poverty, and physical and mental health challenges. They restore stability and dignity for 3,500 guests annually.

Visit their website

Oregon Wild works to protect and restore the wildlands, wildlife, and waters that make Oregon the best place on Earth to live. Right now, one of their main efforts is aimed at permanently protecting over 500,000 acres of wildlands in and around Oregon’s only national park – Crater Lake – as Wilderness. They’ve also been a strong advocate for Oregon’s native wildlife such as wolverine, salmon, sea otters, and gray wolves.

Visit their website

Urban Gleaners rescues edible surplus food that would otherwise be thrown away from grocery stores, restaurants, event sites, farms, and farmers markets. They collect roughly 50,000 pounds of food each month and deliver it free of charge to hungry children and their families through their Food to Schools program here in Portland.Their mission is to reduce waste and want simultaneously.

Visit their website

Gratitude and Honors

It has been a great year and I have met many new colleagues and clients who have become friends. I am so grateful to the fabulous folks I have had the pleasure of working with this past year. Thank you for your support and your votes for me to receive the Five Star Professional Award for the 8th time-WOW- this means so much to me!

Here is the link to participate in their program. http://www.fivestarprofessional.com/homesurvey

There are many excellent agents at Living Room, so I was delighted to be recognized as one of the top ten achieving brokers in the company. As I approach my 28th year in this business, I can truly say I still love helping people find their way home, and I am glad to have found my way to my work home.

 

Happy 2019!!!

 

If She Comes Back, It‘s Meant To Be.

Posted on by Living Room Realty

This one is a tale of heartbreak with a happy ending.  I had the honor of working with my sweet friends, Mary and Gene, on the purchase of their first home.  Having just had twins, they had outgrown their rental and were ready to settle into a house of their own.

Very quickly into our house hunting, we found their dream home on Mason.  It sits up high away from the street with a giant wrap around porch.  Mary was in love before we even opened the door.  She was picturing iced tea/momtails on the porch in the summer with hanging plants and the kids and dog running about.  Gene was anxious to get dwonstairs in the basement to plan their crossfit gym.  There really is that feeling that comes over you when you’re looking at houses and you’ve found the one.

The house blew us all away.  It had been so tastefully remodeled that their wasn’t really any detail that they were talking about changing.  It has 5 bedrooms and 2 baths, plenty of room for future kids/guests.  It’s super centrally located, in a good school district, and no reason to move ever again.  It’s one of those houses that makes me start questioning my own house and making me itchy for something bigger and nicer.

We were the first to get our offer in and everything was looking good.  At the 11th hour, a cash offer came in and we were told we needed to come up significantly in price if we wanted it.  Since that wasn’t really an option, we amended some terms and made it an AS IS sale, and gave the sellers a free 2 month rent back.  Still, at the end of the day, cash is king and we lost out.  We were all so bummed.

From there we set out several more times and saw everything on the market, some really beautiful homes.  But at the end of every showing, the same sentence was uttered “the house is nice, but it’s no Mason.”

About 2 weeks later my phone rings while I’m driving from a number I don’t recognize.  The guy introduces himself and I still don’t recognize him.  Then he says “Andrew, from the house on Mason”, and my heart stopped.  I pulled over and let him explain that the cash buyer suddenly got cold feet and had terminated.  Since we were in backup position the house was ours if we still wanted it.  I screamed a million Oh My God’s at him, thanked him profusely and hung up to call Mary.  It was the best moment in real estate I’ve had in a while.

The house inspected near perfect, it was a rather uneventful deal after this, aside from the sellers needing some extra rent back time, but since it didn’t really matter to Mary and Gene, I was able to negotiate some furniture for them.  We sailed happily to closing and my dudes are the proud owners of their dream home.  I couldn’t be happier for them.  Congrats you guys!!!