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The videographer at the CashFlowDepot Convention let us know that he had a house to sell near Coronado Panama (near the Convention). He and his wife bought the land and built the house.
After he heard us talking about Highest Bidder Sales during the Convention he asked if there was someone who could help them sell their house that way.
When a friend went out to take a look at it, she accidentally went to a neighbors house. Turns out the neighbor wants to sell her $400,000 house too!
So, June 4th weekend, we’re doing 2 Highest Bidder Sales in Panama. The option on each of these houses is 30% below market with the agreement to split the upside. Both houses are in perfect condition and only 15 minutes to the beaches
One obstacle I anticipate is that each owner has 3-4 dogs. We have asked that they go to doggie day care or a friend’s house during the Open House hours. One of the owners also has 2 parrots who like to swear. We may need to find someplace else for him during the Open House too.
All marketing is being done in English and Spanish. Signs, press releases, flyers distributed everywhere, etc.
We’re talking to another seller who has a condo overlooking the Marina in Panama City on the Pacific Ocean side. Owner has moved to Holland and needs to sell her condo. She has already dropped the price $70,000 (30%) but I think I can get it down $100,000 if I agree to split the upside 50/50 . Perfect condition and fully furnished condo – will sell fast.
I’ll let you know how they go.
Any HBS opportunities where you are?
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