Bad news – we found out there were 6 CASH offers on the cat pee house (CPH, as we were calling it). I think these offers came in just after the price was lowered on Friday. So, we didn’t bother making an offer. That totally sucked, we were kind of hoping to get that one to rehab. I’ll still keep it on my list to see if all the offers fall through…although with that many offers on the table, that is highly unlikely.
The other colonial house we looked at over the weekend was awesome, but we found out there was an easement for a right of way on the side of the house, which would have put a road right in the middle of this house and the one next door, and prevented a garage from being added. We’re bummed about that, too. I’m so frustrated but I’m trying to not let it get me down.
We’re still getting calls from our direct mail campaign. A couple motivated sellers, but no one is motivated enough yet. I don’t understand how in this lousy market, people are holding out for prices higher than what they’re worth. Especially with these inherited properties, since it’s not like they’re upside down in equity, since they inherited from (usually) a parent. I’ve checked out many of these houses (that we’ve received calls on) in the public records and most have $0 mortgage balances.
We gotta dig deep and get a house under contract soon. Especially since I made that my goal in Steph‘s 30 day challenge. And my job is driving me crazy. I gotta get outta there and do this REI stuff full time. Having a J-O-B is really limiting my investing time, although the paycheck helps! 
Happy Investing!
Tags: bank owned houses, multiple offers, probate real estate, REO
There’s ALWAYS another cat pee house. Hang it there Steph! You’ll get the deal.
Thanks, Shae.
I appreciate the support!
I’ll keep my eyes (and nose) peeled!
Steph
Hey AnotherSteph not to be confused with TampaSteph of course lol
Love your blog…I just found it! I, apparently, live under a rock!
Anyway, the CPH thing really made me chuckle. Thank you for that!
And Shae is right, there will be plenty of other CPH’s plus DPH’s and CITBTH’s. (Ok can you even guess what that one stands for? Ok ok I’ll tell ya: crap in the bath tub houses lol)
I’m with you and the other Steph on the 30 day challenge….let’s kick buttttt!
Hey Carey, thanks a lot! (Part of the reason I say AnotherSteph is because I cannot complete with Ms TampaSteph – she rocks!!)
I like your blog as well…the ATM stuff is very interesting. I remember back in the day, I wanted to do vending machines, but somehow that never came to be.
Ha! I love the CITBTH house! That’s priceless. I guess there are always stinky, smelly, gross houses to find!
Yes, here’s to the 30 day challenge! Let’s do it!!
Take care,
Steph
Carey, thanks for linking to my blog!
I appreciate it.
Steph
Well I’m sure you can compete with Steph, Steph hehehe that made me chuckle writing that….it just may take you a wee bit longer because of your stealthness and all, ya know?
And no prob for the link…I really had no idea your blog existed….I saw your name highlighted on the other Steph’s blog and I was like “hmmm, does she have a blog” and sure enough you did.
Thanks for the link also. Appreciate it!
Carey
Hey, I’ll try, but TampaSteph is pretty amazing. It’ll take some time, but I’ll get there.
I have had the blog for a while but I’m trying to be really good at updating lately. I wasn’t as consistent about it a while ago due to many other crazy commitments, but I’m happy to be back.
You’re welcome for the link, too!
Steph
Sorry to hear about the CPH, Steph, but like Shae said- there’s plenty of cat pee houses to go around.
It’s just a matter of time before you snag a deal- you just have to keep making offers and marketing on a consistent basis, and the deals will come. I know that sounds like a tired cliche, but it really is true…
You’re doing a great job with the blog, too, although I think you should just go by Steph instead of AnotherSteph. That way it will be more confusing to everyone in the blogosphere when both of us are commenting on the same blog.
Keep up the great work, girl!
P.S.
You rock, too!
Thanks, Steph. That means a lot. I guess I gotta keep chugging along. Even though houses sit on the market a while, the good deals always go fast. So, I gotta get to some of these MLS ones faster, or hopefully snag a private seller house soon.
I agree…let’s be super confusing…both use the same name and drive everyone nutty.
Good luck with the haircut!
Steph
I’ve been following your direct mail post and you seem to be doing all the right things, just keep it up and you will get a deal soon. I’m looking at my crystal ball and I see concur that are many more CPH in your future, lol.
Thanks, Esi. I appreciate the support!
I suppose there are many more CPHs to be found!
Glad your mailings are going well! You are kicking butt!
Steph