From the category archives:

Houses

House #4: No Go

October 7, 2008

Well, it looks like House #4 is eluding me on all fronts… First, The Yellow Stain House is a no-go, as the bank rejected my revised offer, and claimed that my new offer wasn’t anywhere close to what they would accept. While I would have likely upped my offer a couple thousand more dollars, between […]

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House #4: New Offer

October 6, 2008

I mentioned yesterday that based on the inspection report I received on The Yellow Stain House, I was planning to ask for a price reduction from the seller (before signing the contract). Before deciding on how much of a reduction to ask for, I had a structural engineer visit the house on Friday to give […]

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House #4: Maybe Not

October 3, 2008

The Yellow Stain House caused some frustration the past couple days because the seller (the bank) didn’t want to provide a due diligence period; after giving them a large deposit ($5000) and agreeing to close in 2 weeks, they refused to allow me time to do any inspections before committing to the sale. While the […]

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House #4: Yellow Stain House

October 1, 2008

As I mentioned yesterday, I had three offers submitted and waiting for response from sellers. Well, I received one response today, and it was a good one…I now have my fourth house! This is the third house mentioned in yesterday’s post, the 3 bedroom, 2 bath house built in 1988 that’s in rent-ready condition, and […]

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House #2: Final Concessions

September 29, 2008

The Bulge House has been under contract for about 10 days now, and the due diligence period has just ended. This means that, while the buyer can still back out of the transaction if she wishes to, she would lose her deposit if she did. So, I’m hopeful that this contract will stick, and we’ll […]

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House #3: Demo is Underway

September 25, 2008

(Since you’re all here for the pictures anyway, you might as well start with them) We kicked off the rehab on The Second Chance House the other day, and are already making great progress. The key to this project is the redesign of the shared living space in the house, including the kitchen, dining room, […]

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House #3: Rehab Estimates

September 24, 2008

We finally got The Second Chance House underway yesterday (no comment on whether we actually own it or not), and I’m really looking forward to this project. I expect that house will turn out to be one of the nicest in its 200 property subdivision, and hopefully it will be able to attract some buyers, […]

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House #1: Financial Update

September 24, 2008

It’s been about 5 weeks since rehab began on my first house (The Corn House), and we’re starting to near the finish line. Appliances, hardwood floor installation, some back-splash tiling, and a bunch of exterior work are all that stands between present condition and completion, and for the first time in several weeks, the house […]

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What Are Banks Thinking?

September 23, 2008

I wrote a nice little congratulatory post to myself last Friday about finally closing on The Second Chance House…unfortunately, it appears that my post was a bit premature. While I showed up to the closing, signed a bunch of papers, ensured that my funds were deposited in escrow, and smiled pleasantly for over an hour, […]

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Update for 9/22/2008

September 22, 2008

With so much going on these days, I thought I would just post another general update on everything going on… House #1: The Corn House The Corn House is coming along nicely, after 5 weeks of rehab work. While technically the rehab was scheduled to finish this past Friday, I had pulled the contractors off […]

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