Tuesday, November 18, 2008

Condo Offer/Closing

We lowered the price on the condos to $79k/condo due to the association (or lack thereof) issues. The original buyer was still interested and faxed over an offer. I faxed back a counter just clarifying some things so hopefully we'll have a deal. We're set to close with the bank this Friday and our buyers want to close December 12th. Cross the fingers that this goes through. IF we close with them we'll be able to pay off another credit card and that will leave us with just one left! Of course we still have a car loan, a HELOC and our mortgage. I would like to pay them off in that order but we'll see how that goes.

We have an offer on another set of condos in this complex. Usually the bank comes back the next day with a yes/no answer but we've been waiting about a week for an answer. Weird? I kinda think the listing agent is up to something. Maybe he knows the buyer or he's trying to push through their contract? Don't know but I want these b/c I want to keep them for rentals. Hopefully we'll find out soon.

I've been putting a bunch of other offers in but nothing has come through yet. Banks in my neck of the woods are not discounting anywhere near the amount of Steph's properties. BUT, we'll keep at it until we get a more consistant flow of properties.

In the next couple of weeks I need to sit down and write out my goals for next year. This year my goal was 4 properties and I think I am at 6. I would like to get one more under contract before the end of the year. Initially my goal for next year was 6 but I am going to up that to 8 properties.

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