Sometimes it’s not worth my time plus money to invest in a condo that has too many issues, then flooring, roofing plus appliances can eat into my budget suddenly.
I have a realtor that helps me look for investment properties in Duval County plus the surrounding areas, then right now I have two condo buildings plus 12 homes that I wrote for cash. My realtor found a condo building in South Jax that required a cash offer. I wasn’t prepared to make a cash offer on the building, but I was curious about the price. Since the buyer wanted to sell the condo for cash, I knew that the transaction would be quick plus simple. I knew that I could save a little bit of money on some of the realtor fees too. I always give my realtor a split even when there is no need. She is on a retainer plus works for me full-time. I sent a couple of contractors to the property because a cash offer requires me to purchase the condo in the condition it is in. This means I can be stuck with repairs plus renovations that are lengthy plus significant. Sometimes it’s not worth my time plus money to invest in a condo that has too many issues, then flooring, roofing plus appliances can eat into my budget suddenly. The condo building owner required a cash offer, so I looked at all of the information that was available before I made my final decision. The owner of the Jacksonville condo wanted five figures, however, there was no way that I could offer more than $770,000 for the property. It was a huge cash offer, however, it was as high as I was willing to go for the 12-component property. The owner wasn’t willing to budge any lower, so I had to let the condo go to someone else.