One of the many reasons I love Florida- you can grow bananas in your backyard!! This is actually my friend John's backyard (This is the house I wholesaled to him over the summer, remember?). I always go check out the bananas when I'm over there. There used to be a pineapple plant, too, which I was in love with, but
apparently some creature ate the pineapple that I have been patiently watching grow all summer. We were going to make pina coladas out of it when it was ripe. Dang. Anyway, it was pretty cool. They don't grow those in Illinois, I'm pretty sure. Just corn. Lots of corn.
Anyway, John and I went and looked at the REO property yesterday that I got the counter on. Behold, the Ronald McDonald house.............
Interesting choice of colors, no? This is what happens when Grimace and Hamburglar are left to their own devices. Hehehehe.
The inside wasn't that bad, except for the 2nd bedroom that they tried to split in half to make a 3rd. I'm not really sure what they were going after, but they ended up with 2 oddly shaped bedrooms, neither of which has a closet. I think that to make it right again, you would have to turn it back into a 2 bedroom, which would make my ARV drop quite a bit. Which is not good.
The RM house is in the same neighborhood as the house I'm wholesaling to CC, so I drove by to make sure it was still standing. It was, and the tenant appears to have vacated the premises, which is good, because that is one of the stipulations in the contract- has to be delivered vacant. I'm hoping that since CC is paying cash, that we can close early (like this week). That would take a HUGE load off of my shoulders. Huge. If this thing doesn't close for some reason, I am so screwed. Seriously, I don't know what I will do. I may have to sell my car. No joke. I'm running out of options. I've recently ruled out selling drugs and prostitution. Those were the last two ideas on my, "Things I can do to make money if this year goes horribly, horribly wrong," list.
10/14/2007
Sunday, October 14, 2007
10/14/2007
Posted by Steph at 11:11:00 AM
Labels: flip reo, flip reos, flipping, flipping houses, flipping reos, getting started in real estate, how to flip houses, learn to flip houses, learn to wholesale, real estate, real estate blog, real estate investing, real estate investing blog, reo flipping, reo investing, wholesaling, Wholesaling REOs
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