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Hey guys Patti and The Aida Group are doing a Highest bidder sale this week end in Houston. If you would like to see how one is done or stop buy here is the info.
Highest Bidder Sale – 22826 Provincial Blvd, Katy, TX 77450
INVESTOR SPECIAL – Great Location – Great Flip Opportunity – A ton of Equity
2 DAYS ONLY – Saturday July 28th and Sunday July 29th from 2-4pm. House will be sold Sunday evening!!! Don’t Miss Out!!!!
Starting Bid – $59,900
ARV: – $190,000 – $205,000
Come Bid on this 4 beds, 2.5 bath and double garage in a great area. This property on Provincial Blvd has an exceptional amount of potential. Come enjoy the public swimming pool and beautiful park down the block.
It was a great week end sale. We got a highest bid of $103,500. We are purchasing it for $60,000 today and on Thursday we are closing with the buyer. With closing costs this is a $38,000 profit. If we rehab it the numbers would have looked like
$60,000 Purchase price
$10,000 both closing costs
$10,000 holding and miss.
$150,000 in total
$60,000 profit and 4 to 6 months.
I LOVE THIS STUFF!!!!!
Congrats TK! That’s a good weekend!
After rehashing my recent attempt, I believe the last two sales would have been successful had I had as much room to work with as you had on this sale–in short, not getting the owner to be willing to take a pretty good discount. I think everything else is pretty much spot on based on the response I had, the showings and even the 90% of ARV offers.
HBS’s come with practice and you learn something each time you do one.
We modified our checklist and added a few new ways of doing these auctions. We started the weekend before the sale with putting up our signs Friday night and taking them down Sunday night. On Tuesday and Thursday we put 24 signs surrounding the area and near the I-10 highway. Thursday, as we were getting the inspection completed we had contractors view the house and they were high contenders when the bidding starter.
Some cool things at this sale was texting throughout the two days getting information, asking the bid, and making bids at the end. We usually have some no answer’s when we call at 5pm. This time we didn’t. We always made sure to get several numbers to reach the bidders at 5pm Sunday. We’d call, giving them the bid amount with the option to advance or drop out. If they didn’t pick up Justin would text them and the ones who wanted to advance he would text them thru all the bidding. We reached everyone who placed a bid either by phone or text. That’s truly amazing!
We find you need multiple sources of sites to advertize and TK and our VA made sure we were everywhere throughout Houston and surrounding areas. One site was My House Deals and that was where our winner found us. Signs, Sites, Fliers, you name it , we did it. Check out www. eddm.usps.com!!!!! What a cool spot! This site is used to have your fliers sent out professionally to each house for 17cents. We used it for the maps, subdivision, age, income and so on. The ARV on this house could go as high as $225,000. So we wanted to put fliers on higher end houses. Our intention was to attract good quality experienced contractors, investors for rent purposes and using our fliers reach retail buyers wanting to live near friends, family or relatives. We took 5 kids to these designated areas and put fliers at each house. It was 95* that day…UGH! …BUT WE GOT ER DONE!!!
This house actually was not for beginners to purchase. Too much to rehab and our sell flier was excellent to show this. We gave them comps if you did a light rehab and if you did a high end rehab. We then took things from the Inspection to the sell sheet so they’d have an idea of what needed to be done. We’ve done many HBS’s but this is the first time the report was in constant use.
The winner at the highest bidder was at a family BBQ and Justin just kept texting us his next bid. His associate looked at the house on Saturday. The bidding started at $59,900 ended on Sunday at cut off time 5pm at $92,000. Then the fun started at calling the list back asking if they wanted to drop out or advance…when it got to $96,000 our winner texted an offer of $100,00. A few more rounds and he was the winner and still at the BBQ!!! LOL. When it was over we met him for the $2500 non-refundable option fee, proof of funds and signing of the contract all in the lobby of his building downtown. Everything was at our fingertips. Justin sent him the completted contract and he printed out 2 copies one for him and one for us to email the attorney. By the time I left I had everything and the HBS was complete.
We have the bug!!!!! We want to do more houses….want to do more HBS’s ……and higher priced houses……vacant too. Thanks for listening
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