Joe came to us wanting to invest but was unsure of the exact strategy. With a maximum budget of $650k, we were looking for the ultimate investment—one that would provide a reasonable rental return plus potential upside through renovation.
Once we determined the location, our team went to work, exploring multiple on-market and off-market opportunities.
We had two strong contenders, and ultimately, this property was the front-runner.
It was a distressed property sale (mortgagee in possession), and competition was fierce. Multiple low-ball offers came in from buyers trying to secure a “deal.” We used those offers to help negotiate a counteroffer from the vendor, revealing the price they were willing to accept. Knowing we had to act fast, we moved quickly.
As soon as we informed the agent that we were happy to meet the vendor’s price, we became the front-runner while others were left waiting. Two additional offers at the same price also came in but we were able to move faster, which made the agent’s job so much easier.
The client was ecstatic, to say the least. We secured a property with not only renovation potential but can be subdivided too!
