Wednesday, August 26, 2009

Fun Day Viewing Properties

Alrighty, first I'll comment on some of the comments made on my first post.

The property that we wrote a contract on prior to arriving here was based on input from our power team here in Indiana. I received a phone call while they were at the property and they told me it fell into my buying criteria (this is different for everyone and depends on your ability to purchase, property condition, exit strategy and even your own comfort level). I made the offer based on their information and was later sent some pictures and of course the address so I knew where it was by looking at a map, but wasn't familiar with the area. We've been buying properties out of state for like 5 years so this is very normal for us to make offers and actually buy properties we've never seen. Today, I delivered the earnest money check for the deal. All I had done was fax them a copy of the cashier's check and told them I'd bring it with me since I was coming so soon.

As you can see by the time of this post it's after midnight here and I looked at a lot of properties today. I've evaluated them and plan on making offers on about 8 of them tomorrow. I'll make offers on 8 and hope to get some action on a few of them and actually buy 1 of them. I'll make low offers on some because I think they are over priced or need to much work, but if I can buy them cheap enough they make sense. As I always said "price cures all"!

I looked at properties today from about noon time until about 6pm tonight mostly on the east side of Indianapolis and tomorrow we'll cover the west side. I also have that appointment on Friday at 11am to meet another investor as he has about a dozen properties to look at so that's my plan for Friday.

Guess that's it for now I'll start making offers tomorrow and let you know how they pan out.

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