It's been a long time. I've been working on a HUD home that my money man wouldn't pick up. ARV $129,000 repairs 10k list $28,000. SOOOO, my son bought it. We just couldn't let it go. AND it's local. Wells Fargo is doing the financing. So far it's been a real adventure with Wells Fargo, to this very minute, they are a month late in closing with two extensions. My son signed papers a week ago and WF is still trying to source the payment of the first extension fee. MORONS!!
The house started at $99k. We had it under contract 3 times at 3 different prices. When it came out at $28k, we had to jump. So many little tangents to this story.
I just got a message this very second that it might have funded. wow. So, I'm off to call title. if it funded, I gotta go break in to a house and paint it :). Before and after pics are coming.
Cash Flow Rental Properties for the Win
1 day ago