Super busy time for me for past 3-4 weeks with the rehabs in progress, partnering with other investors locally and helping them to find tenants/rent to own buyers for their properties (which they will be seller financing to me afterwards!)
Noticing a softening in rental market with longer vacancies and fewer income qualified applicants.
Increased amount of listings in Vallejo this month for the first time in 4-5 months.
Rainstorm sparked a few issues in one rental house with leaking window.
Had one rent to own couple both lose their jobs and gave me notice that they had to move - sad to hear as I really wanted them to own house.
Getting more educated on Self Directed IRAs as this is a great way to go for private financing - I offer an 8% interest rate secured by First Deed on cashflowing property in my own town - can't beat that for passive!
Lots of data, studies, changing rules and regulations in the industry right now - hard to keep track sometimes. Spend alot of time reading emails, newsletters, ezines etc. to keep up!
Thursday, October 15, 2009
House in Napa Update
Finished house in Napa in 4 days - love my crew! Got a great deal on fancy insulated carriage doors - ooh la la
Bought for $145k, $15k in rehab and under contract for $225k with $8k credits to VA buyer.
Inspections done, waiting on appraisal (not anticipating any issues due to strong recent comps)
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