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Discussion in 'Original Pictures Forum' started by tthomass, Aug 27, 2007.
spill a little more drink on it.
So what are you going to do with all that land?
the new SNG is coming together nicely i see good luck with all that land
I just need to go pick up the boxes and the truck will be 99% complete. Still needs air horns, brake controller etc but as you can see I'm a little busy doing other things.
I'm going to build a shop on the property (30x40 prob) with a pole barn off the side.
Probably get into some sort of production nursery for tax purposes but the property also has a nice 6 bedroom house on it that I'm remodeling and living in. Thanks to the purchase price being so much less than the value I have a really nice equity line. I plan to purchase another property next year using that to work on during the winter and flip..........auctions on foreclosed properties are great opportunities and a way to make easy money in the winter.
I plan on doing the same thing next year. Prices are going down and down around here right now, hopefully I'll pick something up next fall and try selling it in the spring. If prices are not going up yet, I'll consider renting it out for another yet. My wife is in real estate, that helps a little too.
By the way, congrats on the 7 acre property, thats perfect.
I don't know if I mentioned before but it was a foreclosed property. Nobody lived there for a year so everything grew up.
Took 4 months to close on this property with Countrywide and I highly suggest not dealing with them unless you have to as they are horribly slow and a huge PITA to work with..........nothing to do with the "economy", they're just pathetic.
So, made two offers but ended up chasing it to auction a month later. Won the auction but didn't meet reserve which I knew immediately but took them a week to tell me that. Offered the reserved price and took them two weeks to confirm I was offering the asking pricing and then it was just more slow stuff after that but its mine now.
I paid 57% of what the property was valued at during its peak two years ago.
What was the property before? Just a large residential property? Farm?
same way i got mine. found it vacant, and looked up the guys info on appraisal district. took me 9 months to close and buy on a short sale. Got the land for 41% of its value. Immediate $70,000 equity which helps with HELOC loans.
Residential. House was built in 2001.
Nice, can you post some more pictures of the property and house??