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  #41  
Old 05-15-2018, 06:33 PM
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Default Re: Bought my wife a house to Fix and Flip

Just accepted an offer on the house. Full price offer with a couple minor concessions. Net offer will end up being about 2% below the full price. Very happy with the offer. Far more than I expected.

The lovely Mrs_Bob wants to do another one.
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Old 05-15-2018, 07:03 PM
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Default Re: Bought my wife a house to Fix and Flip

Congrats to the lovely Mrs Bob and to you Bob. Way to go.
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Old 05-15-2018, 07:22 PM
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Default Re: Bought my wife a house to Fix and Flip

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Originally Posted by Melensdad View Post
Just accepted an offer on the house. Full price offer with a couple minor concessions. Net offer will end up being about 2% below the full price. Very happy with the offer. Far more than I expected.

The lovely Mrs_Bob wants to do another one.
Great news about the sale!

Wanting to do another? Maybe not so great.
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Old 05-15-2018, 07:22 PM
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Default Re: Bought my wife a house to Fix and Flip

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Congrats to the lovely Mrs Bob and to you Bob. Way to go.
If she keeps this up it might kill me
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Old 06-15-2018, 07:35 AM
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Default Re: Bought my wife a house to Fix and Flip

UPDATE: Deal to sell the house fell apart a few days ago (closing was scheduled for next week).

We re-listed the house yesterday. Got another offer yesterday. That offer is not quite as good as the offer we previously accepted. Not sure if we will counter offer or wait as we have 2 more interested parties looking at the house today.

A window is broken on the front of the house. A bird hit it? Not really sure. Either way its $200 for a new thermo-pane window to be installed.

I had hoped to be done with house a month ago but various design choices held up listing, still it went pretty smooth. There is plenty of interest in the house so we have expectations of a good offer in fairly short order.


--------------------------- AND ------------------------


I bought my wife another house to fix & flip. This one is in the town of Griffith, a somewhat more rural/suburban setting. 3/4 acre lot. Cape Cod. 3 bed/1.5 bath. 2 car detached garage with a fenced yard in a modest, quite, well kept neighborhood.

Newest project pictured below, we take possession next week ... the lovely Mrs_Bob hasn't been inside yet but is already talking about moving a load bearing wall
Attached Images
File Type: png Screen Shot 2018-06-15 at 6.33.01 AM.png (500.2 KB, 21 views)
File Type: png Screen Shot 2018-06-15 at 6.33.31 AM.png (493.4 KB, 20 views)
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Old 06-15-2018, 09:33 AM
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Default Re: Bought my wife a house to Fix and Flip

UPDATE OF THE UPDATE ... got another offer this morning, broker has not forwarded it yet, but he said on the surface it appears to be a full price offer. There will be 3 more showings today too.
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  #47  
Old 06-16-2018, 08:03 AM
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Default Re: Bought my wife a house to Fix and Flip

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UPDATE OF THE UPDATE ... got another offer this morning, broker has not forwarded it yet, but he said on the surface it appears to be a full price offer. There will be 3 more showings today too.
So 3 offers yesterday. All very similar. We countered the best with a couple slight changes and sent that off last evening for their consideration.

More people are lining up to view the house. The lovely Mrs_Bob was there while the window repair man showed up to replace broken glass. A couple showed up for their 2nd viewing. Told her they are coming back for a third. If they don't hurry up it might be sold before they can see it again.

I never realized this market is such a hot market for sellers.

This whole area is hopping. Anything with 3 bedrooms/2 bathrooms in the mid-price ranges is selling in days, not weeks. Foreclosures that fit that description are being bid up in price. New construction is booming along the edge of suburbia in my area too ... mostly mid-price neighborhoods popping up with some higher end scattered around too. Lower price properties seem to be sticking to the older neighborhoods, but 'lower price' is a relative term in this market.

Honestly I'm wondering if there is going to be another real estate bubble in a year, two or 3?
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  #48  
Old 06-16-2018, 08:34 AM
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Default Re: Bought my wife a house to Fix and Flip

It was kind of the same market up here for a while. Before we bought the house we're in, we looked at several and put in an offer on one that was actually 25k over the asking price with no conditions. Someone else had bid more. Things have slowed down a bit but are still moving.

We had a huge building boom here when that happened that basically flooded the market with new builds around the 400k mark.

We're keeping a close eye on the market now as we're planning on upgrading to something more in the country with amenities that will be suitable to my mobility issues.
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Old 06-17-2018, 08:10 AM
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Default Re: Bought my wife a house to Fix and Flip

We now have an accepted offer on the house. Hopefully putting a successful end to this first chapter in my wife's new venture. This is actually $1500 higher than the prior accepted offer. So we got inconvenienced by about a money but made a bit of extra money in the process. Could have been a lot worse. Closing date is now set for 'no later than July 16' on the sale of this house.

In the mean time the closing date on the newly acquired house we are buying is set for this Wednesday, June 20.

My hope is to make it a quick flip, the lovely Mrs_Bob is now dreaming again. So not sure what will happen to this house. We don't know the condition, don't know the damage, so really we need to assess it and see how much work needs to be done. There are rumors the former owner is still in prison? Not sure if he was ever formally evicted by the bank we bought the house from so my lawyer is now double checking. Its very possible its full of furniture and livable, its very possible its been emptied, its very possible that it has been damaged. From the exterior it all looks like the photos above, blinds are all closed, no way to tell about the inside until we get a locksmith to drill out the locks.
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