Due dilligence

[Chris Nonn]

So I have walked through 30+ homes in last 4 months and put 2 offers on homes which I was outbid. 2 weeks ago I put an offer in on a home which I thought was decent. 3bd 1.5bath, 1.12 acres, property tax 1700, asking 129,900, 8k rehab (carpet, appliances, paint, 2 windows, 1 side door, some grading work around home). After initial offer of 113k, Freddie mac home, there was a multiple offer situation and wanted final and best so we bumped it up to 117k, ...numbers were working out at decent return. I went to home to look at it again and somehow I didn't see a bowing wall (scary!!!) so it would of been another 5k or so to fix...also saw a old water line above furnace!! with those big ticket items in mind the bank countered at 119k and we backed out. So kinda disappointed I don't have anything locked in for spring to work on but glad I noticed everything and backed out.