From the category archives:

House #3 - SOLD

Update for 4/17/2009

April 17, 2009

It’s been an amazingly relaxing week…probably the most relaxing I’ve had since we started this business…
For the most part, we’re out of houses to work on. Most of them are under contract waiting to sell or under contract waiting to be bought, and other than looking for more houses, doing some book-keeping, [...]

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House #3: Final Analysis

April 13, 2009

As of this morning, The Second Chance House is officially sold!
Between schedules running over, losing marketing time due to the holidays, and having the first offer fall through after 2 months under contract, we’ve been holding this property for a long time — over 200 days. But, in the end, we received [...]

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Update for 4/10/2009

April 10, 2009

Wow, so much going on, and not enough time to write…looks like this is going to be another overall update to bring everyone up to speed:
House #1: The Corn House
The Lease Purchase tenants at The Corn House moved in last week, and sent us a very nice email just the other day. They [...]

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House #6: Rehab Complete

April 2, 2009

Yes, that’s right, rehab is complete two days after my post that The Red Garage House is on the market…
As I mentioned in that post, we still needed a double window replaced, and still needed the staging complete. Well, yesterday the window got replaced. And today the staging got completed…
We were hesitant to [...]

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Update for 3/27/2009

March 27, 2009

Here’s a general update on all the properties:
House #1: The Corn House
As mentioned previously, The Corn House is under a Lease Purchase contract for the next 5 months, and hopefully we’ll be able to sell it by August. We met with the buyers a few hours ago to collect the security deposit ($1500) [...]

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House #5: Contract Signed

March 27, 2009

After all the craziness this week with the woman negotiating for The DIY House, I thought there was very little chance that we’d ever get to a final contract. She obviously was having cold feet (understandable for a first-time buyer), and I wasn’t sure if there was anything we — or her agent — [...]

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House #3: Moving Forward

March 25, 2009

As I posted the other day, The Second Chance House is under contract, and the buyers are moving forward full-steam. While they currently live out-of-state, they’re really on top of things, making our lives a lot easier…
On Monday (12 hours after they signed the contract), they had an inspector come out complete a property [...]

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House #3: Second Offer

March 23, 2009

If you’ve been following the “exciting” drama of the past couple days, you know that the contract on The Second Chance House is now officially dead.
On Friday, when it was clear that this deal was likely not going to close, my wife scrambled to get the house back in to showing shape — she rehung [...]

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Broker Frustrations (Part 4)

March 21, 2009

I’m expecting this is probably the last update in The Second Chance House mortgage broker drama, but wanted to update my readers on what’s happened…
We sent the final extension amendment over last night (the one that said they must put the rest of the down-payment into escrow and pay $100 per day penalty until close). [...]

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Broker Frustrations (Part 3)

March 20, 2009

After several days of dealing with the drama of The Second Chance House buyers, their mortgage broker, and their real estate agent, things finally came to a head yesterday. Most importantly, we found out that there was an important piece of information about the buyer’s credit that we were never told — they have [...]

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