Buddy, you can't do that!

3 Replies

I feel compelled to share this story with someone and I figured you guys might get a kick out of this.

A colleague (non REI) came to me today to say hello, and - making idle chit chat - I asked him how the purchase of his house is going. From the details I've gathered, he's under contract for a fixer-upper foreclosure - trying to finance it as an OO through FHA so you can imagine the kind of nightmare of a time he's had. (I don't know what he or his agent was thinking, but I digress...)

His bank required a few repairs be made, but of course being a foreclosure, the seller won't make them.  Allegedly, someone told him they'd turn a blind eye to him making the repairs.  So he went over to the property over the weekend, fixed some soffit, hung a door, and to remediate a structural issue with the shed

HE BURNED THE SHED TO THE GROUND.

I'm at a loss for words.  So many things wrong with this - starting with trespassing and ending with arson.  Icing on the cake is he's spent all day telling coworkers about the "bonfire" he had at "his" place this weekend.

Thank you, Thank you, Thank You. I needed a good laugh today. That is great. I'm wiping the tears.

Thats awesome.  Sounds like hes about as crazy as me.  I'm about to be in the same position. I'm wondering how I can get the owner to have me do the repairs, up the purchase price and have him cut me a check at closing.  I take it that its a bad idea.

HAHA Oh man. The things we run in to in RE industry. Cracks me up. 

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here