Opportunity Knocks And I Answer

The other day, I was sitting at my desk talking with a couple of my coworkers when one started talking about his credit score and how it had dropped about 40 points recently. This guy subscribes to a credit monitoring service and keeps a close eye on both his credit score and credit report. It turns out, his score dropped because of a motorcycle loan he recently took out to get a new motorcycle. He got a special low rate, but must not have read all...

Multi #1 First Month Report

The first month’s figures from Multi #1 are in and things look to be progressing right on track. The improvements we plan to make have been started – new signage has been installed and the re-sealing of the entry parking lot has been completed. Other improvements are scheduled for the coming months. Occupancy is at 93% and management feels that traffic has been increasing and can rise to 94% or 95% over the next month. Figures are tracking pretty...

Rental #1 Has Been Sold

Well, in a rather depressing turn of events, Rental #1 closed escrow last Monday and I sold it for a loss. I haven't run the exact numbers yet, but it looks like I lost about $30,000 on the deal. As always, the last day of escrow was not without its drama. This time, I got a call saying the escrow company had not received my funds that I had to wire to them to make up the difference between what was...

Approval Obtained!

Just heard from the escrow officer that her attorney has agreed with waive the requirements for closing and we can move forward. Docs are being emailed to me tonight. I'll sign them and overnight them back tomorrow and we should close on Friday.It still seems like whatever title problems there are are still not fixed. We're just overlooking them now, just like we did when I bought the place. But it won't be my problem any more...

Title Issues Still Not Resolved

Title issues are still delaying the closing of the Rental #1 sale. My title company has contacted the president of the title company I used when I bought (and when I later refinanced) the property. Turns out, he had waived some requirements when I bought the place, presumably to allow escrow to close. I'm sure the intention was to then go back and fix the title issues (even though I was told they were all resolved). That apparently never got done....

Title Issues Delay Closing

Does anyone in Oklahoma know what they are doing? I just heard from my title agent that there are two issues with the title to Rental #1: There is a previous mortgage listed in the names of some people I've never heard of. Why is this being discovered now? This should have been discovered when I first bought the property or again when I refinanced the property - two previous occasions when title work was performed on this property.The private mortgage...