The only off-market deal in the last year. We said “yes” within a few minutes of the seller bringing it to us specifically because we knew we would walk into heavy equity. We were able to purchase for under 275k with the condition that the current tenant could renew their lease. The tenant pays $1750 which more than covers our PITI. Smaller and older homes in the community were selling for 330k+. It made sense for us to park cash here and use it to add 50k+ to our net worth immediately upon closing.
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