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!!!
No comments:
Post a Comment