Thoughts On Purchasing Filled Lease Options

Got back into town a couple days ago from a holiday trip and now I'm trying to catch up on everything...I get emails occasionally from people selling properties that have tenants in them with leases with an option to purchase, usually 1 or 2 years out. Many times, the purchase price is fixed, but I have seen some that say the purchase price is the appraised value in 1 or 2 years, or whenever the option runs out. I was just thinking this morning that...

What Is It With Contractors These Days?

It seems no one wants any work! I guess this is what happens when you live in an area that has a mad housing market.I'm getting some work done on my house - we needed some drip irrigation lines installed in the backyard, my fountain is leaking and needs to be fixed, and I'm having a bunch of electrical work done inside the house.I had to call 5 companies to get someone to install the drip lines. Three companies never returned my call and one said...

They Dropped The Price A Bit

I am keeping an eye on the property I talked about earlier in the week. Sure enough, today they dropped the price by about $3,500. Still too slim of a deal for me, but I'll keep watching it...

Visit To A Property

I found a potential property today at buyazforeclosures.com and went over to check it out at lunch. This property caught my eye because they were selling it for about $30,000 under FMV.This property would be a good rental, but I don't think it would work for a flip. As is standard with foreclosures, there was a fair amount of trash and holes in the walls present. The kitchen needs new appliances and new cabinets. In fact, all the cabinets in the...

Getting Back In The Swing Of Things

I'm starting to get back into routine of looking for new properties. Two days ago, I went through my lists of contacts and emailed people who responded to my post on birddogs. One person responded with a property and I checked it out yesterday at lunch. I don't think this one will work. The guy thinks it will sell for $210,000 to $215,000 when fixed up, but I don't see it. The neighborhood isn't that great and the comps I am pulling show prices in...