Or is so much cash readily available that having cash to make real property purchases no longer hold the cache it used to?
I’m not talking about ability to get financing, or offers for all cash where you need 45 days to close. I’m talking about close in 48 hours cash.
In my long career as a real estate and note investor (40 + years), I’ve made many good deals, some bad deals, and a few “great” deals. In my case I was able to purchase the “great “ deals because for whatever reason the seller needed cash today; not next month, not next week, but ASAP. And was willing to provide almost unbelievable discounts to get the cash NOW.
Here are three representative cases from 3 different types of real estate investments I was able to purchase through the years.
……. Automotive repair facility in bankruptcy for $115,000……I sold it 5 months later for$300,000.
…….. Note secured by commercial retail center with principal balance of $478,000 for $250,000. I’ve been collecting payments on it for the last 6 1/2 years.
…….. Limited Partnership Units value at $105,000 for $5,000…….Received over $75,000 in payouts so far.
I’m working on one right now where a huge discount is involved IF we close this week, I’ll report back!