Thursday, August 27, 2009

Another long day

Well I started the day off hoping to make a bunch of offers. Unfortunately, after looking at the numbers some of them just didn't make sense. A couple of the properties from yesterday were in areas that we had trouble finding comps on. When that happens you have trouble proving value so rather than mess with properties like that we just we'll just pass. Something I didn't realize too was that half the properties I viewed yesterday were HUD properties and the bidding doesn't open until Monday for investors. So, if they are available I can make offers on Monday...that didn't make me happy. So, I think that left me with 2 properties from yesterday and of course the were the 2 that were not really on my list because I'd have to get them for 50% of what they are asking for and due to the favorable area I wouldn't have a chance. So for those two I'll wait a couple of days and if they are still available I'll through in a low offer just to see what happens.

This afternoon I viewed 5 properties and stopped by a property we just closed on to pick up the keys to it. I was told the key was wedged behind the drain spout, which struck me as odd, but sure enough when i got there I found a single key stuck behind a drain spout. I went in and took a quick look around and everything looked good so now we need to get people working on it. I had two contractors go out and take a look at it and got one back today so I'm waiting on one more to come in so I can compare them.

As for the properties I viewed today I did make offers on two of them so we'll see what happens with them over the next couple of days. A couple, again, were HUD properties that aren't available until Monday. I've told the guy showing me these types of properties that I don't need to see HUD properties until I can bid on them. Why spend time looking at properties that I may never have a chance to bid on, not sure why he's not getting that.

Tomorrow I have two appointments, one at 11a with Gary to go out and view about a dozen properties and another one at 3p with Steve to talk about some properties he has. He told me he has a couple of package deals with like 22 properties and 43 properties so we'll see how they look and see if we can't get some great deals from that.

Well it's about 10:30p my time and I think I'm going to call it a night. Any questions feel free to shoot me an email or make comments below. Aloha!

1 comment:

bh said...

So you'd better get a couple more keys made before you lose the single one you have. And that property must not be a turn-key one, since you're getting contractors in, right?
Also, I'm reading this post (again) on Wed, 9-2, so what happened on the properties you viewed the next day?

Don't leave us hanging!!
William R. (Bill) Harvey