It’s been a pretty slow couple months in the business…with the baby being born, waiting to close on several houses that were under contract, and focusing on a couple future business ideas that we’re developing, we haven’t really been looking for new rehab projects.
We have been working on The Poor House for two weeks now, but I know that working on only one house at a time is tremendously boring for my project manager, and it can get tedious after a couple weeks.
That said, we’re ready to buy a bunch of houses, and my project manager will probably go crazy if he doesn’t have more to work on pretty soon…the problem is, there isn’t much out there in terms of REOs!
The good deals are going quickly to owner occupants who are looking to get in under the tax-credit wire. And even the bad deals are going quickly to investors who think the market is improving and are trying to get in before things “get hot again” (yeah right)…
I spent some time last week looking at some higher-end homes in the city, and I’m seriously considering taking on a riskier project just for the challenge and to keep busy. But, I’d just as soon prefer to buy four or five more of our typical houses and spend the winter doing what we have gotten very good at doing.
Anyway, that’s my minor rant for the weekend. If you’re a wholesaler in my area and have any good deals, let me know. And if you’re looking to get into rehabbing and need a mentor, I’ll teach you everything I know if you bring me a good deal or two! 🙂