Re: List you last three Deals Here - Posted by Sailor
Posted by Sailor on February 25, 2009 at 13:39:47:
I am long since (supposedly) retired, & never do a lot of deals in short periods. It’s just that I’ve been doing them a long time. The deal I had last month fell out of escrow & I posted then about HUD being unwilling to credit for major repairs uncovered during inspection.
I limit my purchases to a particular neighborhood where all my rentals, including my MHP, are located. I’m only doing short sales & REOs these days, as other sellers are not realistic. These days I only invest in what I call “evergreens,” which are properties that w/provide decent affordable family homes for decades to come for my estate. They can be easily managed by a family member, & w/ensure that my children w/not have to eat dog food in their old age. One property has been placed in an education trust for the great-grandchildren.
This month’s project has been to take my one vacancy & convert it to a completely furnished unit suitable for emergency housing. This has involved not only outfitting the kitchen, but slipcovering the upholstered pieces for practicality. (I’ll try to post pics later). I’ve been hitting all the thrift shops & the process has been fun. I’ve had items given to me, have done a lot of sewing, buying used, & even bartering. This week I’ve given tours to the heads of 2 different agencies, & plan to notify other local agencies of the availability of this unit. I like the idea of being able to offer a family in need temporary refuge that w/be more comfortable than a motel room. If someone can afford rent, good, but if not, I’m still OK.
I have plenty of more projects in mind, but just this minute I have my mind on some upcoming family events, so if I don’t stumble across another property soon I’ve got plenty of wedding outfits & diapers to make (different granddaughters). I’m also trying to get my foundation set up & the needs are greater than ever. There’s plenty to keep me busy if I never buy another property (but that’s unlikely, as I’m very project-oriented, & besides, I got a new cordless drill for Christmas).