I was pleasantly surprised with the results of my 5-Day Sale. Before I ran the sale, I was convinced I was going to lose money. I was selling a one bedroom condo (the smallest of two available one bedroom floor plans) in a high rise building where sales have been somewhat depressed for many months. Instead, I made about $10,500 not bad on a property that only sold for $90,500! The final price was $600 higher than the price I listed it for in my previous FSBO ads, on which I got zero offers. The signs were great and they generated a number of calls. The letter to the neighbors was also a great help. All the residents in the building received one. Many of them came by just to look or say hello, and then a number of them brought friends and relatives to look. Three of my eight bidders came from referrals from the letters. When it came down to round-robin bidding, there were two people who really wanted the condo, and they just kept going! The contract is now signed, and I can rest assured that this particular “buy it, fix it, sell it” process turned out well. I am looking forward to using the same technique the next time I need to sell an investment property.
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