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.
What is “Income Notes” by Lee Arnold?
2 months ago
2 comments:
Hi Kelly!
So what ever happened to this deal?
Alex
HIIIIIII ALEXXXXXX!!!!
Big Huge Smile!!!! I hope you are well!!
We have been rehabbing it, purely cosmetic. It looks fantastic inside. My Son, and his little family are living there. He has a full time job, a couple of side hustles, is a student, is becoming a RE Broker, has a toddler AND one on the way. So, he's a busy guy. We just installed his DW the other day. It's almost finished. We will do the rest of the landscaping in the spring. I will have pics when it's finished.
I've noticed a few more HUDs than usual. So far they are all WAY overpriced. They usually sit for a while around here. People are scared of them :) good for me.
Ah, good to hear from you Alex!!
email me all of your adventures, would love to hear them!!
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