This was the first one of the 10 houses currently under contract.....link to previous thread is below.
Almost 2 weeks ago Monday, 4/8; I closed on the 1st half of the 2-Pack Rentals getting a $2,500 assignment fee. This is my first closed deal since early January….almost 90 days!!!
I’ll take it, all day long as the “meat on the bone” is in the 2nd house in the package…a $6K pay day, right?…NOT!!!!
As previously mentioned; these contracts were signed at different times (b/c of jerk-**f partner). Of course, the intent was for them to close together as a package.
The one that didn’t close has a below market rent, but we purchased aggressively! Anyway, b/c it ended up being less attractive; it was forgotten about in the “pool” of houses being bought by a certain group of Retirement Funds (IRAs, etc.). Plus, the Seller made herself look like an idiot by being ignorantly aggressive bugging everyone (myself & the atty mostly) about closing. After all, she was the one that actually caused it to drag out by being difficult with the contract!
The guys that pull the strings on the funds were privy to all communication. So I guess they just weren’t so sure about the “crazy partner”? After all, they are buying 10-20 houses per month and definitely don’t need the hassle with an under performing property.
There’s still a possibility it may still close, but I’ve come to terms if not. I’d say this one is at the top of the list for MASSIVE drama on a RE deal!!!
If it does, it does. If not, then that leaves 8 and who could be sad about that, right?! Plus, I NEED HOUSES!! Seriously; these guys will buy all I can get….just gotta find ‘em!!!!
I’m really behind posting this so….
This was the first one of the 10 houses currently under contract.....link to previous thread is below.
Almost 2 weeks ago Monday, 4/8; I closed on the 1st half of the 2-Pack Rentals getting a $2,500 assignment fee. This is my first closed deal since early January….almost 90 days!!!
I’ll take it, all day long as the “meat on the bone” is in the 2nd house in the package…a $6K pay day, right?…NOT!!!!
As previously mentioned; these contracts were signed at different times (b/c of jerk-**f partner). Of course, the intent was for them to close together as a package.
The one that didn’t close has a below market rent, but we purchased aggressively! Anyway, b/c it ended up being less attractive; it was forgotten about in the “pool” of houses being bought by a certain group of Retirement Funds (IRAs, etc.). Plus, the Seller made herself look like an idiot by being ignorantly aggressive bugging everyone (myself & the atty mostly) about closing. After all, she was the one that actually caused it to drag out by being difficult with the contract!
The guys that pull the strings on the funds were privy to all communication. So I guess they just weren’t so sure about the “crazy partner”? After all, they are buying 10-20 houses per month and definitely don’t need the hassle with an under performing property.
There’s still a possibility it may still close, but I’ve come to terms if not. I’d say this one is at the top of the list for MASSIVE drama on a RE deal!!!
If it does, it does. If not, then that leaves 8 and who could be sad about that, right?! Plus, I NEED HOUSES!! Seriously; these guys will buy all I can get….just gotta find ‘em!!!!
More to come…..
http://www.deangraziosi.com/real-estate-forums/my-deals/153345/feast-or-...
John
Quitters NEVER win - Winners NEVER quit!
"P.U.S.H. = Persevere Until Something Happens" Dean
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas A. Edison
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