Goals from last week:
* Start wish board - Not done. I thought about it all week. Does that count? I'm getting the board when I'm at the grocery store this week.
* Submit 4 offers - Done - none accepted
* Work out 3x - Done - Worked out 4 times
* Place ads on Craigslist - Done - No response
* Secure financing for condo deal - Kinda Done - Never got in touch with the lady at the bank. I left another message with her and, as expected, she never called. Steph suggested I try and get her email which will be on this weeks goals. I do have financing through my bank but wanted to avoid the 25% down. If I have to go this route I am going to get a HELOC for the 25% after closing so it will be like 100% financing. Hopefully that will work.
This weeks goals:
Work out 3x
Get email for lady at bank
Work on vision board
Submit 2 offers - Done
Begin Dave Ramseys book (it was given to me by a special angel!)
Sign up for RE licensing test
Look into placing ad in Chicago Tribune for 2/1 in LG
REI will be a little slow this week b/c my realtor is going to Atlantic City. This sucks that I rely on her to even get me information. I just added signing up for the RE licensing test to my goals. I think I have to take it before August.
Our offer on the 5 condos was rejected by the bank... expected. We were told they would accept something in the $60's so I re-submitted at $60k/condo. We were also told that the bank is getting someone from Green Bay to do the BPO. The BPO is going to come in waaaaay higher than $60k so I'm not sure how this is all going to play out.
We still have no bites on the condos OR the 2/1 in Lake Geneva. This is not good. Even with the Rent to Own ad in the paper I've only gotten a handful of calls. No one seems to be the least bit interested in this house. I guess I totally misjudged this house/location. I truly thought the area would be the big selling feature on this house especially since it's summer but nope, I was wrong. What I SHOULD do is place an ad in the Chicago Tribune's real estate section. Yeah, I'm going to add that to my Goals. Maybe someone wants a cheap 2nd house up this way? Good thinking.
I have another For Rent ad in the paper for the condos. We'll see what I get for that. Sucks.
I think that's it for now. Everyone have a good day!
Subscribe to:
Post Comments (Atom)
4 comments:
Hi Eileen, you're doing well with those goals - nice! I really need to add working out to my list at some point sooner rather than later. Hope you find some buyers for your condos soon! Do you think you have exhausted all options? Have you considered perhaps an auction? ;-)
Eileen, have you asked your small bank if they will drop the 25% down thing? I had to put down 20% on the first 2 deals, but after that they said I proved myself, and fund me 100% now. It never hurts to ask, eh?!?
I need to work on my vision board, too.
I started it several months ago and still haven't finished.
I'll have to put that on my list for next week..
Thanks guys (or gals)!
Regarding the condos... I'm finding that we are not short on buyers but because there is no association and the complex is not 80% o/o, financing gets complicated. It CAN be done but the o/o's tend to get scared. If there was an association and they were 80% o/o we could have had 6 sold by now. I did get a call from a renter who wants the place. We'll see how that goes...
Regarding the 20% down... I've already asked them to waive the 20% downpayment since we've done like 6 deals together but that is not something they are now willing to change. This is why I have been calling other local banks. In fact, I'm going to bother that lady who said they have a 0 downpayment in-house loan. Maybe I'll get her on the phone today.
Regarding the vision board... I stopped at Walmart last night for dog food and I forgot to get the board. I can't even remember to get the damn poster board! Urgghh.
Post a Comment