FInally got Property #6

[Chris Adams]

After searching high and low, up and down, and making countless offers I finally have house #6 under contract.

The house is a 1150 3b 2bath w/attached 2 car garaged built in 97. In all honestly it just needs lipstick and maybe (probably) new cabinets. But paint carpet , some minor repairs and it will have an ARV of 105k. (my budget is 12k for repairs)

Bank owned REO and the contract period drove me nuts. I made our initial offer @ 55k, then got the completely expected highest and best phone call /slam fist. After some consideration I decided I would just got to 60k. Asking price was 65.9 but the house had just dropped from 74.9 that day.

My offer is always cash/no contingency so I told me realtor I wasnt budging from 60k. They came back at 63k and wanted me to give them 10% EM. I wrote a check for 6k Em and kept my price @60k.

I took a week to get a signed contract back, and I almost pulled my offer to go after another house. But no need, I got preliminary title work Friday, so Im hoping to close this by the end of the week..

This house would be a good rental, and a good flip. Im leaning towards flipping this one because it will be a relatively easy flip, and if after 30 days i still own it, I'll just add it to my rental portfolio.

So all you guys just getting started keep working hard, it took me over 90 days to find and secure this deal.