In trying to wholesale The (Former) Roach Duplex, I put a number of ads on real estate websites and placed a few signs around town. I was very surprised to find that I got fewer than 5 calls yesterday from my marketing, and was getting a bit discouraged. But that all changed today. Between 8am and 7pm, I received nearly 30 phone calls! Some came in so quickly that I couldn’t take them all, and unfortunately not everyone left a message.
Most calls were from my signs, and many of the callers weren’t clear on the fact that this property should be geared towards an investor who would be able to afford and handle the repairs; in fact, I had more than one person who said, “I’ve been looking for a house I can move into in this price range!” Well, sorry to inform them, but there are no move-in-ready houses in this price range anywhere around here — but I guess people are a bit more optimistic than I had planned for. From now on, I will be a bit more clear in my marketing that the property is geared specifically towards investors and perhaps note that it is a “fixer-upper.”
Regardless, I did get a few calls from serious investors, and a couple of them will be viewing the property over the next couple days. I’m still not sure if I’ll be able to move it for the price I’m asking, but I’ll keep trying.
And, while we were supposed to close on this one tomorrow, not-surprisingly, I got an amendment today from the bank asking that we push the closing to “no later than February 18.” Not a big deal, as it gives me a couple more weeks to find a buyer (or to buy some plywood to board this baby up for the next couple years while I wait for the market to bounce back).