Tuesday, January 31, 2006

OFFER and THOUGHTS FROM UNDERGROUND
We put in an offer on our next fix-n-flip today. Gave them until Thursday. I'm expecting a counter-offer. I don't expect the bank to go for it. It was a foreclosed home. It's in a great area and on almost an acre of park like beauty. The house is an excellent condition; it's just ugly as in 70's decor and coloring ugly. So, we make some aesthetic improvements to suit the price range and market we are targeting and hopefully, flip it quickly. We need our bank's appraiser to appraise it for close to $250,000 (after we were to make the improvements to it, of course - it wouldn't appraise for that as it is now) in order to get enough money from the bank to buy it and make the improvements. We plan on listing it below that price however, for a quicker sell. We have a little negotiating room on the purchase price and still pull off a tidy profit, but not a lot of room. I'll be hitting the listing again soon, regardless if we pull this one in or not. I'd like to be doing a second one and possibly a third at the same time.

In other news, check out thoughts from underground for some beauty. She's writing some amazing intense poetry and her photos are GORGEOUS! She pairs them together and it is truly amazing.

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