Gaining momentum!

3 Replies

Ok...so after being in the doldrums for the last few months I'm starting to see some activity. The guy that owns the rental across the street from me wants to liquidate his 7 properties...all within a mile or so of my house. Just waiting for him to tell me when he can get with me to go over numbers. Then I got a solid lead on a burned out house a couple of blocks over...looked at another potential deal on MLS yesterday and had another investor offer a lead to me on another property I could wholesale. I'll also be following up on several leads that haven't panned out in the past including an abandoned, overgrown property in my farm neighborhood and two rentals from a tired landlord that works with a friend of my wife. Gotta land something out of all this! Woo-hoo! 

Alright, here's an update. Walked through on the the rental properties near me. Looks good. Newer roof & mechanicals. Just need to negotiate pricing. He's very interested in getting rid of these. Oh...and it's actually 8 properties.

Going Saturday to negotiate the fire-damaged house and get it under contract. Already have a buyer lined up. :)

Ended up getting that lead from the other investor (also a BP member). Got it under contract yesterday. Listed it in the marketplace here, on Craigslist and on my REIA's website. Got one email response already on the cl ad and one from here.

Still can't get current contact info on the overgrown house (anybody want to do some skip-tracing for me?) and with moving my daughter off to college haven't had a chance yet to follow up with the owner of the two rentals.

This momentum may actually carry on into fall and pick up some speed!

Real estate is a funny thing. Deals definitely seem to come in bunches......  Nothing, nothing, nothing, and then its like the floodgates are opened for about 3 months and everything you touch turns to gold.  At some point, you just expect that every offer you put out there should be accepted.  Its too easy.

Then reality sets in for the next 3 or 4 months again. :-)

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