From the category archives:

Making Offers

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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Back to Making Offers

September 30, 2008

With things so busy the past few weeks, and with being so caught up in the rehab part of the business, I’ve been slacking on the acquisition side of things. Now that I have my brother working for me full-time (wow, he’s awesome), I can start to focus some more time on finding new properties, […]

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House #3: Second Chance House

August 10, 2008

I mentioned the Second Chance house in a post from last week. Well, the day after I wrote that post, I received a counter-offer from the bank for $1000 higher than my bid; considering this counter-offer was still $13,000 less than my original bid two weeks ago, I immediately accepted, and now have House #3 […]

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House #2: The Bulge House

August 6, 2008

Looks like I picked up my second house yesterday. While this one is far from a done deal, I submitted an offer, had several round of counter-offers, and ultimately we came to an agreement on terms and price (i.e., we have a contract). The reason I say this isn’t a done deal (other than the […]

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A Second Chance?

August 5, 2008

A couple weeks ago, I put an offer a house that looked like a decent deal. My offer was a few thousand below list price (it was a bank owned foreclosure), and I thought that were there no other offers on the table, I’d likely get it. Unfortunately, there was another offer on the table, […]

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Update for 8/1/08

August 1, 2008

I’ve had the busiest work week in recent memory this week (even compared to back in the corporate world). Things have been crazy, but in a good way. Here are some updates: 1. I met with a number of GCs this week to get bids on the Corn House rehab. I expect to have four […]

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House #1: The Corn House

July 26, 2008

It’s only Saturday, but it’s already been a good news, bad news weekend… First, the bad news: Offer #2 was a day too late, and buyer who submitted an offer a day before mine got the house. I was hoping that he’d back out during the 7-day inspection period, but that period expired on Friday, […]

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Strategy on Offer #2

July 24, 2008

Yesterday, I mentioned putting in an offer on another investment property. Some people have asked me what I’d do with this property if I get it. The nice thing about this one is that I believe it has multiple good exit strategies…here are some more details… The house is an REO (bank-owned foreclosure) listed at […]

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