So if you have been reading my blog, you realized we had to cancel the contract on the last House #33. Earlier this week we put a new House #33 under contract.
Last week, I called an REO broker that I have bought a couple houses from for an update and he told me about a new listing he got. It has a bunch of City Code Violations and the bank has agreed to fix them, to the tune of about $12,000.
We agreed that I would submit an offer and I would take it with the Code Violations. And I got it for 17,000 less than their listed price :).
The follow up paid off, this one is going to stay in our rental pool and is a winner. It was built in 1980 and is a 4/2, should have great cash-flow. It does need substantial repairs though.