It looks like Fridays closing should be on schedule for the HUD property. I can not believe how many phone calls I got from our yellow sign in the front yard! Whew. I wish all my properties had that much interest. I'll be looking in this area again!
We signed the offer on our condos. We'll be losing a little on this one too (just getting that all out of our system!) but we'll free up our LOC for downpayment money on future flips! I just hope the bank doesn't close it once we pay it down!
We put in 2 more newspaper ads for the comeback house. I'm hoping something will pop on this one soon!
We have 2 other interesting HUD properties we're looking at. I submitted lowball offers and they came back with decent counters. Hopefully we'll be looking at them this weekend.
There are also about 6 other properties we will be submitting offers on next week most likely. We'll see what happens!
Gotta run!
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2 comments:
Hey Eileen, you're out there HUSTLIN' I see! Makin' a comeback for sure! :-) Awesome. On the LOC, you may want to just keep the money liquid if you're going to use it SOON rather than paying it down. Will cost you a little in interest to hold it but at least they can't close it or reduce your available credit if you haven't paid it down. Just a thought. I remember Steve Cook talking about that earlier this year.
Yep, I remember people talking about closing LOC's also which is why I'm a little concerned. I am not paying it down completely but the interest on it now is killing me and it needs to be paid down. In the end I will have $5k on a $35k limit. Hopefully they will not reduce it otherwise I'm screwed!
My goal is to get 2 more done before the end of the year. Let's see if we can make it happen! WOOHOO.
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