Hubby found a great deal on a house from an online service that sends him emails daily (I think his realtor set this up). It is very close and was listed for $79,000. He asked me to go look at the property because he was going to be very busy. The usual realtor wasn't available, so another member of his "team" met us there (hubby ended up leaving work early to see the place). It is in really great shape, and in a really nice area. Lots of cosmetic stuff, and the mechanicals need to be replaced (furnace, hot water heater, etc.). Our HVAC guy came over to see it later and said he could easily install central air (it is a rancher and the floor of the main level is exposed in the basement). Central air will instantly add $10,000 in value. There is some dispute about how much it will sell for when finished. I think it could go for nearly $150,000. The realtor said the absolute lowest was probably $125,000.
Hubby bid $75,000. The listing was weird. It was originally listed for 75, but then taken on the market and relisted at $79,000. They want a cash deal, and a very quick closing date. We may end up closing on both properties in one day! Luckily both will be pretty quick turn-arounds and hubby can quit his job for good to keep the business running (that was our goal all along).
Not much happening on the rental front. One severely behind unit is now on a $350 per week payment plan from now to the end of May to catch up. I am doubtful. The other unit that is majorly in arrears had a 2nd eviction notice posted last week. They will probably be out by the end of April. Early in the month, we have rents from 4 out of 7 units. A fifth unit and the first $350 payment are supposed to be collected on Friday. Keeping my fingers crossed!
No comments:
Post a Comment