Sunday, August 18, 2013

I wonder if the Numerati have figured out I am having a mid life crisis?

What a week.  Last Friday I was checking the website remax.com to see if I could find a house with some property.  I was so excited to see a property in the same school district we currently live in (same elementary school and everything) up for sale.  It was even bank owned.  I did some quick math and on a whim I decided to stop by Friday night.

WOW!!!  What a property!  And what a dump!  The previous owners didn't believe in cleaning or caring for anything, EVER!!!  I don't think the property had been cleaned since they moved in in 2007.  I don't think they ever took care of the landscaping either.  I asked the guy who was pumping out the pond... I mean pool... what was up with the property.  He said he was just there doing some work to clean out the pool.  No kidding, the pump was a dead give away!  Anyway, he told me it was as big of a mess inside as it was outside.  During our conversation, I found out he was a Realtor and would be more than happy to help me.  I went home and did some quick research.  Saturday I was back at the property looking with my wife and kids and Sunday with my contractor (aka brother-in-law).  I did some research online and new what type of discount most foreclosures were going for.  I therefore took that number and knocked off another 27% (don't judge, you should have seen the house!!!!).  So, we waited.  On Monday they countered.  They pretty much told us to go pound sand.

Well, now I really took to the Internet.  I reviewed more data on housing and was able to find an index for the exact zip code of the property.  This allowed me to substantiate the price declines.  I then found what the pumps for the pool would cost to replace online.  Then I went and researched tractors to cut the grass.  I would be going from a third of an acre lot to a 12.5 acre property.  I had to know my cost to maintain it.  I checked some pricing on line for landscapers and did the calculation on how long it would take to cut the property with a zero turn.  Then I started thinking about all the landscaping and went and priced out a 1 series John Deere compact utility tractor (complete with front loader, backhoe, and post differ!)  Back to remax.com as my wife side we hadn't looked at anything else.  Ok honey, I found another property let's go see it.  I have spent more time this week than I can even count researching the requirements to operate and pay for this property.  I forgot to mention all the time on bankrate.com and talking to my buddy the mortgage broker.  Add that to the searches on autotrader for pick-up trucks and Porsche's, I but the Numerati think I have multiple personalities!!!

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