All Forum Posts by: Vicki Gleitz

I just recently was approved for an owner occupied HUD home [ closing towards end of month] As I recall, approval for this particular listing was in no way influenced by whether the property was financed or paid for with cash. The fact that this was mentioned at all leads me to believe that it varies with the particular property. I wonder if the agent was assuming that only an investor would pay all up front. I would check out the specifics. I know that at least in some circumstances that a financing offer by an owner occupant is considered as good as an all cash investor offer.

I found out that I won the bid on a HUD house today. We have to owner occupy it for a full year. at that point, we will decide whether to rent it out or stay put. It was a foreclosure that was inhabited by gang bangers for a few years. they stripped it of ALL electrical wire, plumbing etc. HUD fixed all of that [not cosmetic] before offering it. The house is right across where I live now, and there were literally hundreds of people who have toured it this past week. People were still coming in this afternoon after we had already been selected

I have had a kiln before. As long as it is cool with your insurance and your tenant pays for it, I would have no problem with it, particularly since it will improve your property value. Being me, I would probably hint around very heavily that I would like to be gifted an art piece!

My story will probably not sound even remotely like a success story to most of you, but to me it goes beyond success to near miracle.

I joined Bigger Pockets well over a year ago. And I was so scared  I was receiving chemotherapy for an aggressive form of breast cancer. My husband had been recently diagnosed with heart failure. We had very little money because we had spent hundreds and hundreds of thousands of dollars trying to find a cure for a horrific disease youngest son suffered constant excruciating pain from. Luckily, in only a few years after we found allevment for my sons condition [ not cured, but SO much better] .we went from a net worth of NEGATIVE $300,000 [ we went all over the world looking for help for my son] to a positive net worth.

Apart from the physical illness, my son Is also Autistic, as am I. My son had always had a dream of buying a home since he was about 8 years old. He worked and saved for that house for a few years but became ill. A couple of years ago he started doing much better. For a short period of time he received social security. most of it came in one lump payment and it equaled about one third of the amount that he needed to purchase a small fixer upper with the money he had saved since 8 or 9 paying for the rest.

it has always been a worry as far as how my son will do after we are dead. The house was a start. Building an Autistic community in his neighborhood became part of the plan.

So, my husband became too ill to work. I went to the retirement forums where I discovered that we did not have enough money for anything but destitution in a short period of time. When I was tested as having an IQ of 55 [ that is LOW} I refused to believe that I was mentally retarded and hopeless. I chose to believe that despite what the experts say that we were not heading for extreme poverty.

We took the little bit of money after selling the business and bought 2 houses [cash] and just yesterday we put in a bid on a house that we will probably get. [also cash] and pretty soon will get that autistic community going. I was interviewed for an article in Atlantic Online magazine and received many e-mails from people ho want to move their Autistic families to Pueblo as soon as they see progress being made, and they are starting to see it.

I have hope for my son after my husband and I are gone.

My husband built me a chicken coop in the backyard of our adorable little 700 sq foot house and I am so excited to get my bee hives in the spring.  I am making jewelry, and am in remission. My husband is hanging in there, and my son wants to work with me on the intentional community and be a shared faccilitaor at the GRASP Autistic support group that will have its' first meeting January 2nd,

Anyway, this is my BP success story. Thank you to all who have helped us reach this far

I

We put in an offer for over the amount asked. The realtor called to see what the highest offer was and the owners had already signed a contract for less than we were offering.

Son bought a house in pueblo last year. We bought one down the block from him last month. In between us is a house with 2 extra houses on it at a fantastic price. The 2 smaller houses look okay, though of course we would need an inspection. But the main house [which is the only one that is zoned...no idea what that means- has quite a few cracks that even the realtor said might indicate foundation damage. I do not want to purchase a home with severe foundation damage. Is an inspection going downstairs a better indication of foundation damage than what is apparent from the outside? Also, if there is foundation problem and it is minimal, would it be expensive to correct. Also, if the 2 extra homes are not zoned does that mean we would have difficulty getting them insured?

 Okay, I just skimmed the "Contract to buy and sell real estate" that we signed. I could have missed this in there, but if not, that is the only contract we signed. Nothing else

One thing I found strange was that when we signed the agreement, there was NO mention of earnest money. We asked our realtor, and were told that would come later. I had never heard of such a thing.

these houses go fast. we are considering a different realtor for a house just a few houses down from my sons house. can someone from Colorado please tell me if I was illegal [and he said the word in a tone that I had commited murder] 

You all helped me last year in assisting my disabled son to purchase his first home. You helped through the purchase, the rehab, and the renting of it.

My husbands health issues [as well as my own] has forced an earlier retirement of our business [by about 2 years] than we had anticipated. We were already planning to move to Pueblo to start an Autistic community, but this pushed it up a bit,

Our building is going to be purchased with cash in a few weeks by a friend of ours. Another friend[ who we borrowed the money for our business from in the first place] has some official form pledging to pay for the homes we purchase in the case that the closing takes place before we receive money for the business and building.

Okay, so I started looking at listings and saw a place that looked good. I called the same realtor who had helped with my sons purchase. Our realtor put in an offer for us. Their realtor put in a counter offer. We went to look at the house [ I know, but they go that fast here] I saw the house and told the realtor that we were not going to accept their offer because there was no backyard, and because the smell o cat urine was so strong  and I did no know how to get rid of it.

Came  home, and said to myself, but there are many of us [Autistic people] who cannot tolerate the outdoors and that house would be perfect for them. But the smell. So, I did research online on how to get rid of the stench[house needs new floors anyway] which I had confirmed by the sages of house renovation [ Home Depot employees] and,the next morning called the realtor and told him that we had changed our minds.

The realtor said that since we had not immediately jumped on then deal that then other realtor had been angry and wanted further proof of finances. I then called the  owners and told them that we still wanted the house at the agreed upon price if it was still available. The owners were super nice and excited that we were not your usual rental investors. It had been his grandmas house for 40 years before they had bought it after she died. We had an instant connection and they said that they knew that we were the people God wanted them to sell to.

So, the next day we get a phone call from our realtor. He said that my conversations with the sellers were extrememly illegal[ we did not make any changes at all in the contract, we just got along] I told him that there were messages from the sellers and h told me that Iwouldbe in big legal trouble if I returned the phone calls. So I did not.

So, we put in further proof of our finances, and signed and sent the contract.

3 days later, as I am packing [we had all agreed on a closing date the end of september] we get a text saying that they accepted another offer. We asked why we had not been given achance to outbid, and he said that I was lucky that I was not charged for illegal contact. [Colorado]

so wasthere a lack of ethics somewhere? Was Iillegal? Were the sellers who called me many more times than I called them, though I initiated, also illegal [ we were not making any changes] 

and, should we trust the realtor?

Wow!  Reading these posts reminds me that everyone has an interesting story and some incredible dreams.  I believe that each and every person who posted here will not only achieve those dreams but surpass them far beyond your imaginations. You are all so awesome!