I want to take a few minutes today and talk about my experience of purchasing an investment property with REIC. I started looking at homes with my transaction specialist and together we looked at at-least seven or eight homes. Some of the homes I just hated, some were ok and other REIC clients may like them but I personally didn’t feel like I wanted to buy them. All of the ones we looked at were found by REIC.
Being a little overly enthusiastic I actually searched on Craig’s list and KSL but about ever day with new properties that I thought were a great deal. Every single time, my transaction specialist would review the property and find some reason, that I couldn’t find, that showed me that it wasn’t really a great deal.
It really helped me to appreciate all that the research department goes through and how difficult it is to find a legitimately good deal. I ended up making four offers. One was a bit out of my price range so I made a low offer and it was rejected. Two were short sales and there were others with offers ahead of me… short sales are kind of a slow game. One of the offers was accepted!!! I had an inspection done on the house and it didn’t pass perfectly but the sellers were willing to spend a little bit of time bringing it up to our expectations.
I really liked the house. It had been completely remodeled inside so it had brand new carpet, paint, doors, windows, bathrooms, kitchen and even a brand new electric stove. To be hones my wife was a little jealous especially of the new windows and stove. We have pretty old windows on our house that let in a lot of cold air and she seriously would have swapped out the stove if we had gas hookups in our kitchen.
Obviously the coolest part is that the day I bought the house my net worth increased by thirty thousand dollars and it will continue to grow from this house from now till the time I sell it. Another cool part is that I will make money through helping people. It is such a great feeling knowing that I will actually help empower people and help them purchase the home from me rather than being stuck renting and never making any headway.
~Tony Purcell
Only too true. REIC really is there to help you with every step of the process, giving expert advice on every situation. Rather than trying to do everything yourself, I would always seek the experts out.