We got a HUD property under contract Monday! It is a 3/1, 1.5 story home with a 1 car detached garage in a really cute town. There is almost no work that needs to be done BUT there is water in the basement. I'm pretty sure I know why the water is getting in but will be having my inspector go through when we get all the paperwork sent in. It seems HUD has changed their policy to allow 15 days for inspection after getting the property under contract vs. 24 hours or something crazy like that! There are several homes that have sold recently in this town and the average sale price is $120k. We have ours under contract for $50k and I'm allocating $15k for repairs assuming of course, that the water in the basement is due to no gutters. If it's not b/c of the missing gutters this deal will change immensely. If the water is due to the gutters I think we have a pretty good deal here! We need a good flip baaad. I'll let ya'll know how the inspection turns out.
We close on our next rental this Friday. Nothing too exciting about this one... everything is already in place.
The condo deal is still a possibility. Apparently the "investor" that the bank was pushing the deal on is either not interested or their offer is lower than mine. Now the bank in pursuing the owner of "phase 2" of the condo complex. He has already said he wasn't interested but I guess they are trying everything they can to get the best "bang for their buck". Can't say I blame them. And in all actuality, I'm not real sure I'll be able to pull this deal off anyway. Maybe if the the "money man" came through it might be a possibility. However, it's not something I am pushing right now. I'm really bad at this kind of stuff...
There are a couple other REO's I'm looking at but nothing but the HUD in the pipeline.
I've decided to take the week after the 4th of July off. I haven't had a week off without being pregnant or a newborn in my arms for over 5 years!!! I think I'm going to head on over to my familys lakehouse for the week and have a few cocktails, sit in the sun, have a few cocktails, play with the kiddies, have a few cocktails, you know, just chill out. I've been feeling very stressed and anxious and wound up about lots of things. And I've been feeling like I totally hate my job and want to walk out the door. Not a good thing : ) I need a break!
That's it for now!
4 comments:
PLUS, you should have a few cocktails. :)
Sounds like you're doing great! Keep up the good work!
How's the baby doing? You need to throw us a picture on your blog...
Ha, ha, ha, ha, ha... very funny! Yes, I will have a few cocktails and maybe even one for you Jodi! heehee.
You're doing great too, girl!
He is doing WONDERFUL! He is sooo damn cute. I just love him! I will get a picture up. It takes foooreeeever to load pictures on my home computer so I don't do it very often but I'll make a point of it!
Woo hoo! Go girl! Nice going getting the house under contract. Even better that you're taking a much needed and well deserved vacation. 5 years is way too long to not take some time to just relax!
I am sooo looking forward to being off. I initially only took Mon & Tues off then decided last week to take the whole week. You're right, I deserve it!!
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