1-2-3 Flip : Page 25

Calling All Wholesalers

August 3, 2011

I’m constantly getting phone calls, emails, and letters from local wholesalers and other investors looking to sell me deals. 99% of the time they don’t know anything about me or what kind of deals I’m looking for, and 99% of the time, the deals they bring me don’t meet my criteria. So, I took some […]

0 comments Read the full article →

House #18: Closing Delay

July 30, 2011

We were scheduled to close on The Haggle House yesterday, but it didn’t happen… We got a call mid-week from the buyer’s mortgage broker informing us that there were a lot of little issues that still needed to be finalized (buyer getting a copy of her latest pay stub, etc), along with one major issue. […]

2 comments Read the full article →

House #25: Preliminary Budget

July 27, 2011

We received word that our contract to purchase The Drought House has been signed by HUD and that we can call the closing attorney this week to schedule our closing for sometime in the next 45 days. Hopefully we’ll be able to get this one closed quickly, as we’re ready to get back to work… […]

4 comments Read the full article →

House #25: More Details

July 25, 2011

As I mentioned last week, (I think) we have a new house under contract — The Drought House… The reason I say “I think” is that we already had the HUD contract returned once because we didn’t “dot all our i’s and cross all our t’s”. If we didn’t get it right the second time, […]

5 comments Read the full article →

House #21: Final Analysis

July 22, 2011

We closed on the sale of The Leak House today… (see all the financial results below) This house was a good reminder about why we need to ensure that we don’t get lazy about doing inspections and due diligence before we purchase. While we don’t use inspectors anymore, we generally still inspect the property in […]

3 comments Read the full article →

House #25: The Drought House

July 20, 2011

After a long drought of not being able to put any houses under contract to purchase — nearly three months — we finally got a contract on another house… This will be our first HUD property, and we’re pretty much flying by the seat of our pants to figure out the process for getting all […]

0 comments Read the full article →

House #21: Clear to Close

July 18, 2011

We’re a couple weeks past the original closing date on the sale of The Leak House, but we just received the clear to close from the lender, which means it should get to the closing table this week… The lender kept finding new things that they needed, and each turn-around of information was taking several […]

1 comment Read the full article →

House #18: Appraisal

July 15, 2011

We just got the results of the appraisal for The Haggle House, and the value came in above the purchase price (Sale Price: $95K, Appraised Value: $96K)… This was the last major hurdle for this property, and now the loan should go to underwriting. Assuming there are no issues that the underwriter finds (at least […]

2 comments Read the full article →

Update for 7/11/11

July 11, 2011

Just got back from vacation yesterday, and have been trying to catch up on work and life…but wanted to give a quick overview of where things stand with the houses… House #18: The Haggle House The Haggle House has been under contract for two weeks now, the buyer has completed their inspections, we’ve made (almost) […]

2 comments Read the full article →

House #18: Inspection

July 6, 2011

We’re on vacation this week, so just a quick update… The Haggle House has been under contract to sell for a little over a week now, and the buyers have completed their due diligence and inspections on the property… As suspected, the inspector found no major problems, but there were a few minor things that […]

3 comments Read the full article →

← Previous Entries

Next Entries →