The Investment Rental Property No One Wanted

by Ronnie Adams

Enjoy It and Share It!

Years ago I received a call from my realtor about an investment rental property that came across his desk. I was one of his best investors, so he called me first. When I saw the outside of the property it was clearly a big home in a decent area. I immediately wondered why this property was still available.

Once the realtor opened the front door I immediately understood why it was still on the market. There was a stench of urine and other foul smells I still can’t describe!! It was so bad that my realtor wouldn’t even go in the house! I figured if he wouldn’t go in, many perspective buyers definitely wouldn’t enter either. So I held my breath and ventured past the door.

I took a quick look around and realized the property was not in bad condition. It was on the market for $60,000. Betting that no one else could stand the smell, since I was about to vomit, I submitted a bid for $30,000. The next day my realtor called and said, you just stole that property. The property was worth $80,000 with only about $12,000 needed for rehabbing. I only won the bid because I was willing to endure what others would not.

Sometimes buying residential investment properties is a lonely road. Always be willing to go the extra mile. You might have to walk it alone, but you’ll receive the benefits alone too.

Wondering what the best property for beginning investors would look like?  Check out this video:

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Kaio December 27, 2015 at 4:38 pm

I haven’t read your book, but it looks very interesting! Perhaps you can help me: My huansbd and I are moving to CR in less than a month. We have NO idea where we’re staying or what’s it like. We’re simply moving because we want to LIVE! Even though we like it here in the US, it’s all so fast paced. So basically, the title of your book is the story of my life. We are about to leave everything we have here to move down there. I’m currently struggling to breaking the news to boss how do you go about doing that without them thinking you’re nuts? Any tips in general? I would GREATLY appreciate them. Eran

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