How We Closed a $1.6M Deal (After 5 Months of Follow-Ups & a $217K Rehab Budget)

Real estate investing isn’t fast or glamorous—it’s a grind. Deals take time, strategy, and resilience. Today, we’re pulling back the curtain on a challenging $1.6M property we closed. This deal tested our patience, blew our rehab budget, and is still waiting for the right buyer over 60 days later.

If you’ve struggled with lead generation, follow-ups, or managing unexpected costs, this story has lessons for you. Here’s how we made it happen.

The Tough Truth About This Deal

From the beginning, this was no easy win. The numbers tell the story:

• It took 5 months to close the deal.
• Three different salespeople had to work the lead before the seller signed.
• Our rehab budget exploded to $217K—well over our $160K estimate.
• It’s been on the market for 60 days and still hasn’t sold.

Every part of this process challenged us to stay focused, adapt, and stay the course. If we had quit early, we wouldn’t have closed this at all.

How We Got the Lead: The Upside (and Downside) of Paid Leads

We found this lead using a pay-per-lead platform called Motivated Leads. These services generate seller leads and connect them with investors or agents. They’re great for getting in front of potential sellers quickly, but they come with costs—and risks.

Crunching the Numbers on Paid Leads

• Cost per lead: $150–$300
• Leads needed per deal: ~25–30
• Total cost per deal: $2,500–$9,000

Some leads are fantastic—others aren’t worth the money. The success or failure lies in your follow-up and closing skills. Paid leads can get you a pipeline fast, but if you don’t convert them, you’re just lighting your budget on fire.

Key takeaway: Paid leads can work, but only if your sales process is dialed in. Without it, they’re no better than a gamble.

The Follow-Up Strategy That Sealed the Deal

This deal wasn’t a quick victory. Real estate leads rarely close on the first call, and this one took five months of consistent follow-ups. Most investors would have walked away, but persistence kept us in the game.

How We Navigated Follow-Ups

Here’s the step-by-step breakdown of how we worked the lead until the seller said yes:

1. The first salesperson called but couldn’t lock in an appointment.
2. The second salesperson followed up two weeks later and secured an appointment.
3. The third salesperson contacted the seller 14 days after the appointment and closed the contract.
4. Consistent follow-ups over the next 5 months convinced the seller to trust us and finalize the deal.

Other investors had contacted this seller too, but they made critical mistakes. They overpromised, gave unrealistically high offers, then lowballed when it came time to sign. We stood out by staying consistent, being transparent, and delivering on what we offered.

Key takeaway: Follow up until the deal is officially dead—or closed. Sellers want honesty, consistency, and solutions, especially after they’ve shopped around.

The Budget Blowout That Shifted Our Perspective

Rehabbing is rarely predictable, but this project hit us hard. We initially estimated $160K for the rehab, only to watch it spiral to $217K—a $57K overrun.

Where Did the Extra Money Go?

The biggest surprise costs came from areas we underestimated upfront.

• Pool renovation: $30K–$40K
• Unexpected repairs: $10K+
• Fence replacement: $7K

We tried to plan carefully, but these challenges reminded us how vital it is to include a buffer in every budget.

Lessons Learned From Budget Issues

1. Add a 20% buffer to every rehab budget. You’ll need it.
2. Inspect all details upfront, no matter how minor they seem. Missed issues add up fast.
3. Be realistic about timelines. Delays almost always lead to higher holding costs.

Key takeaway: If your rehab budget is too tight, you’re taking unnecessary risks. Give yourself room for surprises, and you’ll keep your project from falling apart.

What This Means For You

Here’s the essence of what we learned from this deal—and how you can apply it to your own real estate investing strategy.

1. Paid leads can work, but you need a strong sales process. Without a system for working leads, paid platforms won’t deliver consistent results.
2. Follow-ups make all the difference. Most investors give up too early. Persistence doesn’t just help; it wins deals.
3. Always budget for the unexpected. If you underestimate your rehab costs or fail to plan for delays, you put the entire deal at risk.

Real estate investing isn’t about shortcuts. It’s about doing the hard work, staying patient, and being ready for challenges.

Want to learn how to find more leads, improve your follow-ups, or create better rehab budgets? Drop a comment or DM me with the word “LEADS,” and I’ll share our go-to tools, scripts, and templates to help you close smarter.

The next big deal is waiting—go make it happen. 🚀