Home

J.T.'s blog

My first bid on a property

December 16th, 2011 | posted by J.T.

Dec 15:
Placed first bid on a fore closure.
ARV 49,900.
Asking price 19800.00.
Bid 1200.00.
purchaseing with cash.
Exiting strategy. Buy and hold. Place on market as rent, or lease w/option.
HUD owned. limited ability to inspect. No power, no water. Did walk thru. Impressed with winterization done. Building is clean and move in ready in apearance.
Becausse it's HUD I have to pay the realtor.
Sold As-is. Not sure if I can place conditions as to my ability to back-out if inspection proves too costly. Waiting for response from HUD on 12/16/2011.

Syndicate content