March 19, 2019
Received an email for a home we submitted an offer on months ago, asking if we were still interested, and at the same time they decreased the price on the MLS. We removed our offer when the seller’s agent told us that the seller was going through bankruptcy. They have too much on their plate. I told my agent I want to check in with them weekly. While I know this didn’t occur, a few weeks after we dropped our offer, they reached out. Now we have settlement on the first house for 1 April. And an offer accepted on the second!
Crazy to think how fast we’re moving. I’m constantly running the numbers to make sure I have enough cash in the bank. Since I have not done this before, I am unable to truly plan for the worst. Especially since the first house is a HML. Pending ARV, that’s the biggest risk. If the after repair value comes in to low then we have to bring additional money to the table. The lower the after repair value, the more money we have to bring.
Also, Rental #3 is a short sale, so I believe we still need to get past the bank (3rd party approver).
