Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 12 years ago, 06/21/2012

User Stats

148
Posts
174
Votes
Joe M.
  • Real Estate Investor
  • Hartville, OH
174
Votes |
148
Posts

Property #4!

Joe M.
  • Real Estate Investor
  • Hartville, OH
Posted

Hey BP members! Tomorrow I'm closing on my 4th property since joining BP.

This one was tremendously difficult to close and has taken nearly 6 months to close.

This property was a bank foreclosure. My first offer was rejected and the bank accepted another offer. The duplex was off the market for nearly 3 months and the original buyer was unable to close on the deal (apparently couldn't get financed). It comes back on the market and I make an offer and it's accepted. The listing agent then drops off the face of the earth for 3 weeks, and we end up going through his broker just to get a response to the offer. Several more months and loads more issues later (no issues with the duplex, mostly issues with the selling bank and listing agent) and we are finally closing tomorrow.

The property is a duplex. It is 3br/2BA each side with attached garage. The property also has a detached 2 car garage with seperate storage. One side is rented out already. I have my contractor lined up to do some maintenance work and repaint and we will be ready to rent out the other side.

Here are the pics.

Loading replies...