Fully Upgraded Bathroom

Chasing #Foreclosures! The Fully Upgraded House! #foreclosure

It’s Foreclosure Saturday! We have a standing appointment every Saturday to meet with our Real Estate Broker and look at foreclosures. We believe the real estate market is poised to take off and we want to be on-board the rocket ship! Therefore, we are always looking. When you think of foreclosures, you probably think of properties in poor condition, and sometimes they are … In this case, we are viewing a 3 bedroom 3.5 bath townhouse that is in excellent condition, and it’s full of upgrades! When we entered the townhouse, the first thing we noticed was the stainless steel, double-oven stove!


The kitchen is full of upgrades such as stainless steel double-oven stove, stainless steel microwave, pergo floors, cherrywood cabinets, and backsplash.



One of the full bathrooms is also full of upgrades such as ceramic tile, cherrywood cabinet, shower faucets and fixtures, and a designer toilet seat cover.


The upper level of the townhouse has 3 bedrooms, and 2 full bathrooms. The paint and carpeting is in good condition. Both bathrooms are filled with upgrades!



This property was in such good condition that we made an offer on the same day. We typically offer 10% – 20% less than the asking price, however, we decided to offer $100 more than the asking price. By the next morning, we learned that there were 2 other offers. The selling foreclosure agency requires a “best and final offer round” when there are multiple offers. We had 24 hours to decide whether to make a higher offer. Even though we knew the asking price was about $20,000 less than the market value, we decided not to bid up the price. The last thing we wanted to do was get into a bidding war. As experienced real estate investors, we know there is always another real estate property … We have also learned that bidding up a foreclosure may result in the buyer not being able to get financing. We will keep an eye on the property, just in case it shows up on the market again!



To see more of our foreclosures, watch our Chasing Foreclosures playlist on YouTube!

Have you discovered any tips when bidding on foreclosures, particularly fixer uppers? If so, please share your tips:

  1. Enter your comment below
  2. Tweet us on Twitter
  3. Subscribe to our YouTube channel
  4. Follow us on Instagram
  5. Pin us on Pinterest
  6. Follow us on Google+

The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.


Instagram

Logan Circle Real Estate how to invest in real estate beginner real estate investor invest investing investor beginner real estate investing realestateinvestor

How We Got Started #Investing in #RealEstate! #invest #realestateinvestor

First Investment Property We bought our first investment property in the late 1980s. We had been married for 5 years. We both worked full-time. We paid our bills on time, so we had good credit. We didn’t need tens of thousands of dollars for down payment because we could assume the existing loan on the […]

Residential Condominium Complex how to invest in real estate investing beginner real estate investor beginner real estate investing

Chasing #Foreclosures! An Excellent 2 Bedroom Condo! #foreclosure

It’s Foreclosure Saturday! We have a standing appointment every Saturday to meet with our Real Estate Broker and look at foreclosures. We believe the real estate market is poised to take off and we want to be on-board the rocket ship! Therefore, we are always looking. When you think of foreclosures, you probably think of […]

Inspect HVAC how to invest in real estate investing beginner real estate investor

When Searching for Good #Property Inspect #HVAC! #propertybrothers

We meet with our Real Estate Broker on a regular basis to look for good real estate investment properties. As soon as we enter the property, we look for the HVAC system … Why? The heating ventilation and air conditioning (HVAC) system is one of the most expensive items in a home. If the HVAC […]

Leaky 1 Bedroom Condominium beginner real estate investor how to invest in real estate real estate investing

Chasing #Foreclosures! The Leaky 1 Bedroom Condo! #foreclosure

It’s Foreclosure Saturday! We have a standing appointment every Saturday to meet with our Real Estate Broker and look at foreclosures. We believe the real estate market is poised to take off and we want to be on-board the rocket ship! Therefore, we are always looking. When you think of foreclosures, you probably think of […]

Residential Real Estate how to invest in real estate beginner real estate investor real estate investing

#CurbAppeal Increases #RealEstate Market Value! #realestatetips

We have a standing appointment every Saturday with our Real Estate Broker. We are always looking for below-market real estate properties, preferably foreclosures. When we drive into a neighborhood, we look for “curb appeal.” How do we identify “curb appeal?” Is the neighborhood clean? (e.g., no trash on the ground) Is the street well-maintained (e.g., […]

Commercial Real Estate how to invest in real estate investing beginner real estate investor

Chinese #Invest $93 Billion in U.S.A. #RealEstate! #realestateinvesting

Money flowing into the U.S.A. from China creates demand for residential and commercial real estate! Whenever other countries have evaluated our real estate potential, and have determined the U.S.A. is a good place to invest their money, it’s a positive development. It encourages other countries to take a look at U.S.A. real estate. As real […]

Luxury Condominium Washington DC how to invest in real estate investing handsonrealestateinvesting beginner real estate investor

Tour #Luxury Condominium in #WashingtonDC! #luxuryrealestate

The Washington DC real estate market is HOT, particularly the high-end! A new administration full of Wall Street executives and billionaires is flooding the buyers’ market! Secretary of State Rex Tillerson just purchased a $5.6 million dollar home in the Kalorama neighborhood in the upper northwest area. If you don’t have millions, you may have a […]

Townhouse Attic how to invest in real estate beginner real estate investor beginner real estate investing

Chasing Squirrels in the Attic! #propertymanagement

We have a 4 bedroom 3.5 bath townhome that is currently rented by a family. We received a note from them regarding “scratching” noises in the attic at night. This sounds familiar to a call we received a few years ago from a different tenant. Wierd sounds in the attic or ceiling usually mean squirrels […]

Condominium Complex how to invest in real estate beginner real estate investor

When Prospective #Tenant Wants to Move In Quickly … #tenantscreening

We have a one bedroom condominium for rent. The current tenant gave notice about 3 weeks ago. We always require 60 days notice so that we can minimize loss of rent when we have tenant turnover. We advertise using Zillow and Craigslist. It is extremely important to thoroughly screen prospective tenants! Your tenant evaluation criteria […]