We closed on the 2nd HUD property yesterday. Glad that one is done. We sold to an o/o who needed to be handheld through the process. She used a local bank so that made seasoning a non-issue. From the time we closed ourselves to finding a buyer to closing with that buyer was about 3 weeks. I thought we were going to make more on the property but ending up netting about $5k. I was a little bumbed it wasn't what I was initially thinking but that is my fault, I screwed up the numbers. Hey $5k is better than a sharp stick in the eye AND for 3 weeks worth of "work", it's not too bad.
We have an offer on our Jefferson Street property too. They are first time homebuyers so I hope their financing doesn't fall through... They came in about $8k lower than list price but we're taking it. We do NOT want to sit on it through winter and would rather sell with a lower profit than do some type of owner financing (if possible). With this one we should net $8k - $9k. Still sucks for the time we've had it (4 months now) but we should make a profit instead of a loss. Again, better than a sharp stick in the eye.
Nothing in the pipeline but looking/watching/making offers every day.
I'm off to a crying baby... 5 weeks left at home. Even more of a reason to bust my butt so I can be home in 2 - 3 years!
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