The little pig produce some bacon after all.

[Joe S.]

The end of last year I agreed to purchase a property out of the area for 30 K.  The folks were about to lose it to a tax sale and so I bought it even though it was not in my geographical area. I got some pictures and had someone go look at it for me and I thought surely I could make a go with such a cheap property and make it even  for wholesale if I needed it.
I tried to owner finance it, but I didn’t have any takers. 

So I loaded up and spent the best part of a whole day driving to the property and coming back home.  The property was worshiped I thought. 

Property Manager in that geographical area had a father that was a handyman.   35K into it and the property was somewhat pretty  and we converted it from a two bedroom to a four bedroom.

It appraised for 160 so I did a cash out refi.

This took a number of months to complete and I was telling myself I’m not going to buy out of the area again. Now it’s looking like I might’ve did all right. I even had some wholesalers trying to contract it prior to me fixing it, but I realized that they were not real buyers so I did not agreed to their contract. The most serious investor wanted to give me less than what I had into it, and I tried to explain that I would take what I had into it, but he wouldn’t listen. Now i’m glad he did not listen. Lol