They're killin' me...We closed, it's funded, but where's our money?
Friday, December 11
OK, the property closed and was supposedly "funded" yesterday. So I woke up early today, excited to see a big balance in our bank account. As I logged in with anticipation, I saw the same low balance that was there yesterday. UGH!.So, I don't get it. The buyers are moving in this weekend, and ...
Sometimes Closings Take the Longest Time
Saturday, December 05
We knew when we negotiated with the bank to raise the extremely low appraisal estimate that we would risk delaying the closing, but I didn't realize how much! Now, we got a $14k advantage by doing the negotiations, so, the extra time it's taking is worth the wait, but not having any cash is a pro...
Whoa! Our FHA Appraisal was $22,000 BELOW Contract Price - What Can be Done?
Wednesday, November 25
This as been a stressful week for Eileen and me. As we last left off, we had a signed contract for our cute property on Challen for $10k higher than our asking price (minus $5k in closing costs). This was a good thing. Our only concern was how the FHA appraiser would value our property.As luck wo...
You Find Investors Where You Least Expect it
Monday, November 16
I am pleased to say that Eileen and I have caught the attention of yet another all-cash investor!I had a rather depressing phone conversation with another Armando student that hadn't had any luck finding the funds to do the program. She admitted that her husband took the "Sea Urchin" personality ...
Somethin is Awry in California
Monday, November 02
I've been making offers left and right and contually get outbid! There's something awry in California.I've seen prices of these same foreclosed properties appreciate 30-50% in just 3 months! I'm talking about boarded up, skanky properties with the toilets half way off the floor and rotting wood c...
Lots of Good News!
Sunday, November 01
Good News #1 - The Bus TripEileen and I were fortunate enough to attend our 3rd bus trip! This was the most successful bus trip we've been on. Having multiple offers on our house helped, as the new students could see and hear of our experiences step by step, plus we connected with some really gre...