After taking the past couple months off from looking at houses and making offers (the new baby has taken up a lot of time), we spent the past couple days looking at houses and putting together a plan for acquiring more projects. It was probably a good idea to hold off on making offers these past two months…with the $8000 buyer tax credit, there’s been a lot of competition for foreclosure properties, and I’m not sure we could have gotten anything for a reasonable price.
It was a pleasant surprise to find that there were a lot of good properties on the market, including some that don’t seem to be in high demand. My wife and I spent the day writing up offers, and it looks like we’ll be making six offers over the next 24 hours.
With the tax credit getting ready to expire (it will probably be renewed but hasn’t been yet), and with winter coming up (a slow real estate season), we’re being pretty conservative with our offers and keeping them low. Hopefully we’ll get one or two counter-offers that we can work with, and perhaps get at least one of these properties under contract this week.
With The Poor House getting close to completion, we’re going to need some more work to do in the coming weeks…