Monday and We Are Almost There

My sleep schedule is from 8am to 4:30pm. I don't usually mind nightshift but the emails from the title company always come between 9am and 5pm; basically the whole time I'm asleep. I woke up at 11am this morning for a bathroom break and decided to check my emails. The title company wanted to know what the situation was for the 2015 and 2016 taxes. I had budgeted $3000 for closing and part of the reason I wanted to get the home price down to 15K from 20-25K was to cover closing cost without putting myself in jeopardy during the rehab. I wanted every cent I could for rehab because of the state of the house. Also, it would maximize my profits if I had decided to wholesale this deal.

I replied back to the title company that I would be paying the taxes for 2015. Around $1400 and there would be no proration for the taxes in 2016. She sent me an estimated closing cost bill and it came to just over $18,000. That's the $15,000 for the house, $1400 for taxes and $1600 for closing costs. I'm right on budget. I had to send another amendment to the title company documenting that I would be covering the taxes and not the seller. I used the TREC form 39-7.

I got another email from the home owner asking when closing would be and after verification with the title company, January 20th is looking like the date. We are just waiting for verification of the survey that the owner sent to the title company from their previous closing. Once that comes back okay, then we are good to close. I replied to him and thanked him for being easy to work with and patient during the process. He's pretty excited to get rid of this house and I'm excited to have my first investment property.

My plan to become more active in BP is working. I spent last night answering a bunch of forum questions and welcoming every newbie to BP. I woke up to 50 alerts on my profile. I guess I'm almost ready for my BP tattoo.