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Connecticut rehab – Under contract

Connecticut rehab – Under contract

I am happy to say that my rehab project, which was my life for 5 months worth of weekends and evenings, is now under contract. I should mention that this is after only 5 days on the market. And this offer came in on Sunday so it was really about 3 days. I also had a verbal offer (too low) and another buyer who was going to write one today. I couldn’t be happier with the response

Obviously nothing is certain until we close, but things look very good. We put a lot of effort into the place and its nice to know that it shows. I’m sure the quality of our rehab has something to do with the rabid demand, but I think that’s only part of it.

I have been saying it for months, but I really think that this is just further proof that houses in the $100,000 to $150,000 price range are still hot. With all the single family foreclosures around, there isn’t a shortage of rehab targets out there either. Struggling economy or not, people have to live somewhere. Keep that in mind when lining up your next purchase.

 

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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One thought on “Connecticut rehab – Under contract”

  • Brian S.

    October 27, 2008 at 1:02 pm

    Congratulations!

    Reply

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