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Saturday, February 6, 2010

A Real Estate Miracle Part Three

So the Duggars sold their commercial property for $250,000, almost 4 times the amount they purchased it for. Searching for a way to reinvest the money, Jim Bob saw a 20-acre plot of land with 37,000 square feet of building space. The property was advertised for $650,000 but had been valued at $1 million! The Realtor laughed when the Duggars offered him $250,000. Still, Jim Bob and Michelle officially made the offer, and the Realtor brought the price down to $450,000. Refusing to go into debt, the couple declined. When the seller came back and told the Duggars that he would take $300,000 for the property, Jim Bob and Michelle stood their ground and kept their offer of $250,000. Out of the Blue, the Duggars received $75,000 from a renter on their other property who decided to buy the land. Now they were able to purchase the 20-acre lot. A few years later, they built their 7,000 square foot home on the west end of the land and were still able to rent out the rest. Now that's a miracle!

Rephrased and Reformatted from the Source: "The Duggars: 20 and Counting!" (Howard Books).

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