It might need some repairs, but one Dallas house has a new owner -- all it took was $12,500 and some great timing.
Candy Evans from DallasDirt sends along word of this delightful little story of Sean Walls, CPA and Real Estate Investor, who happened to stumble on a particularly great deal -- $25,000 for a bank-owned duplex in the East Dallas historic district (209 Alcade St.).
Though he was quick to dial up and snag deal, another buyer had beaten him to the punch. “I told the agent,” Walls tells DallasDirt, “watch that listing like a hawk because if that first contract falls through, I want it."
Sure enough, the deal fell through, allowing Walls to go in and eventually get the building for only $12,500. Walls says he plans to pour around $50,000 into the spot and eventually rent it out.
Don't worry if you can't find a deal like this one, though; Walls next project is called Twitter_MLS, a Twitter-based company that helps agents get the word out about open houses, price reductions, and new listings.