Here is an update:
– Since I lost posted we have been working very hard on buying more properties. Two weeks it felt like we missed everything and in the last 4 days we have put 4 properties into escrow :). That brings us to #41, I am a little behind on posting the details about them. One of them is a higher end burn-out.
– That got us worried about liquidity, so we have successfully wholesaled one deal and are thinking about bringing on a partner for a second deal. We want to have cash in the bank so we don’t ever stop looking for properties. I am sad to wholesale anything in this market, but it makes me more sad to run out of capital.
– House #16 has loan docs signed by all parties and should fund and record by Friday. We’ve had docs for a while but the buyer had some medical problems they needed to attend to so it has delayed things. It will be nice to get this one off the books (especially at this great profit) as our next oldest house is House #32.
– House #32 has 8 offers on it, 6 of them above list price. One conventional and the rest FHA. I am not real excited about the conventional buyer so I may try our first loan after the 90-day flip rule has been removed.
– House #34, which apparently I haven’t blogged about either, got listed yesterday. No calls yet, which seems odd, hopefully it gets busy this weekend.
– I am really confused as to what to think about the market. Going up? Going down? All the data says it should go down, but from what I see everyday it is going up and going up fast.
– March is going to be a bad month goal wise. Probably only one closing, unless these escrow companies can be quicker about things.
That’s all for now. A quick and dirty update, back to work buying more.