0
0

Pulled the trigger - again


 invite response                
2010 Nov 3, 5:40am   22,852 views  76 comments

by Bap33   ➕follow (0)   💰tip   ignore  

1)Followed a pre-forclo until it was REO.
2)Read the paper on the front door and went to the website listed.
3)Signed up to be able to bid on the property on-line style.
4)Property came up after a few weeks, I placed an offer on-line, they countered, I accepted their counter, and I just now signed and returned their addendum docs with my check for title via scan/email. I used a REtor lady that had been working with me for about 2 years (opening doors and submitting offers). She set me up with proper offer docs and such. The on-line REO selling company preferred I get an agent.
5) when those docs come back I go to my lender

It sure saved time and money not having to deal with some REmfer between me and the holding company. If you want, look into Altisource and you may like it too.

1800 sq.ft, 3/2 ranch built in '89, end of a court with 6 acre lot homes, built in pool, huge garage, 1.15 acre square (not a pie shape), in one of the more exclusive rural areas of 95301 ...............

honestly worth about $175 - 195K
accepted offer - $134,500

Stay tuned

« First        Comments 65 - 76 of 76        Search these comments

65   Bap33   2011 Mar 16, 1:03pm  

It would be much better if I had "before" and "after" pics .... we'll see.

I do need some help finding the best way, and least intrusive way, to remove smoke damage from some of the bricks on the fireplace. They are not too bad after I hit them with some mild cleaner and a stiff brush and then a rag ... but, they are still a bit tinted. My brother says I should just paint them all white. They are currently red cement brick with that blotchy grey look that makes them look like "used" real brick.

66   Bap33   2011 Mar 29, 2:50pm  

texture 1/2 done. they finish tomorrow
I'm running base and trim tomorrow with my brother
painters start caulk and putty on Thursday
painting will be done around next Wed.
I'll start detailing the inside when the painters leave.
Electric and communication lines get terminated next.
That leaves just the floor covering and appliances, blinds, light fixtures, plumbing fixtures, shower enclosures, ceiling fans ... I'd guess we are 3 weeks from completed with the whole deal (interior).

Stucco finish starts tomorrow too.

On the outside I have been removing old fence and trees. I dug up power and water lines by hand to help avoid hitting them with the tractor. I have some very large tree removal starting soon ($800 worth). Things are getting cluttered in the garage and here and there becaue I have only a medium sized dump trailer. I think I need a dumpster, but they are expensive.

67   Bap33   2011 Apr 21, 4:33pm  

okie dokie ... I will be putting the finishing touches on the inside next week. The place came out even better that I figured. Spent about 15K on the addition and some other detail work I did and outside stuff I paid for.
delivering appliances Saturday
moving in some stuff that is in storage.
mostly reinstalling stuff, changing switches,plugs,plates to deco white, little things.
all hired tradesmen will be done and gone by Wednesday.
2nd draw from the rehab loan next week too. Doing a change order to repay myself for some plumbing and windows I paid for, paid out of the contingency money (I hope).

Milgard windows are expensive. Nice though.

and then ..... the outside gets undrway. Trouble is, I am out of money!! lol No shop is a bummer. Anyone wanna sponsor me a shop? I can get 24 X 26 steele up and done for $7,000 including a 20X20 approach pad. Anyone? lol

68   Bap33   2011 Apr 27, 2:07pm  

okie dokie ... sent off Draw #2 for the 203K Rehab loan. It has everything but the appliances in it, so I will have one more draw and a big change-order to access the 15% cushion that was created.

The entire interior is done. I only need to finish detailing some cabinets and getting some blinds.

Need another gorillia to help me lift the island back into position. Co-worker shall be volunteered tomorow.

I have two doors to hang. New rear patio man door and new garage man door. Paint is drying on them.

We need to get some good carpets for the entry points to control some dust. Stinkin hard wood cherry colored floor shows the dusty boot prints very well.

Wife and oldest daughter cleaned a few windows today. I am suprized as you are.

Put a new door bell chime and button. Ding ding dingding .... ding ding dingding. You know the one.

And so ... completely out of money (about $3K cash total left in bank, 25K in signiture loan [$500 a month payment for 60 months] used to fund addition and extras, 130K in house loan, 34K in rehab 203K [1,300 a month for 30 years]) so, $190K in debt against a $250K estimated house value, and $3K in cash ( I feel so naked without cash). I will refi as soon as the rehab loan is finalized if rates are still good.

Outside work will be slow due to no funds. First I must paint the outside. It will cost about $700 in material. I am doing the backyard/pool fence next. Friggin fence is $10+ per foot just for the material. Absurd. That makes it a $3,000 pile of wood for me to build with. Next will be some front yard doctoring and circle drive stuff. Again, just doing what I can without spending money. Cement is still $75 a yard, so I'll be pouring in a patchwork fashion on paydays .... lol (the construction guys will get it and laugh).

Ok, anyone have any questions about the 203K rehab loan? It worked for me.

69   Bap33   2011 May 12, 3:48pm  

planted water melons. lots of em.

mucho yard work all weekend.

appliances come Monday, then we start putting in our junk.

70   vain   2011 May 12, 4:05pm  

Bap33 says

planted water melons. lots of em.
mucho yard work all weekend.
appliances come Monday, then we start putting in our junk.

Put a few watermelons in square jars so they come out like this for fun:

Fits nicely in the fridge. It'll mold to the shape of the glass but you will have to break the jar when it is full.

71   Bap33   2011 May 12, 4:22pm  

how does it spin on the vine with a block shape? That is pretty neat. May try it with a wine jug, just for kicks.

72   American in Japan   2011 May 13, 2:18am  

I've seen these...they are grown in Japan...

73   Bap33   2012 Dec 13, 2:54am  

Alrighty ... just refied down to 3.5 from 4.64, the loan cost will be paid back with the savings in about 3 years. House appraised at $260K, into it for 191K total.

Completely repainted the exterior.
Built shelves for inside the garage.
Shop and cement around it were done last summer.
Finished off the inside of the shop, epoxy floor, slick OSB side walls, lots of lights and plugs, wired for Cat 5 and Cable.
Oh, and the epoxy floor was a real challenge. I wanted to have a metal flake over white floor, to give it a 50's vibe. Well, I muffed up the application of the metal flake, made a mess and used up $200 extra in epoxy, but now it all looks ok, just plain bright white .. no clear, no metal flake. lol. This story is much funnier while standing in the shop!

The only thing really needed to do, besides constant maintanance, is landscape and flatwork.
I have diced, graded, and worked the lot to smooth and flat, and ready to be made cool, just don't wanna go into debt for landscape and flatwork.
Cement is $100yd, my cost, on Saturdays, with a full truck and no stand by time. Running lots of sprinklers on a well is not my favorite thing either, so I'm looking at lots of flat work and mow-strips to allow for rock areas.

top-grade laminated Hardwood floors are awesome, and the dog cant scratch them.

Black Appliances look neat but are hard to keep clean and look like crap too much of the time. Kinda like a black car.

Fire stove is a harth mount and is amazing. Uses very little wood, makes lots of heat. House is at 80deg and kids walking around in summer clothes after showers at night.

The market is pretty strong around the area because folks want to get away from the scummy areas. That is the only motivator in this area, I think. Otherwise, it's farther to the store, DMV, Doctor, ect. No sidewalks around here, and that can be an issue.

Kids have friends all around and the court we are on the end of is the playground. In the summer months there are nights when there are 15 kinds between 7 and 12 out on the court with scooters, bikes, or balls, or just running around being kids. Not a bad situation right now. I'm sure when they are all teenagers I will be keeping my daughter closer to the house! lol

my gorillia guard dog is getting lazy and fat due to no more true guard duty.

Merry Christmas

74   Tenpoundbass   2012 Dec 13, 3:05am  

Bap33 says

welp ... the lender did not send docs, they sent more requests for stuff we should have had requests for a month ago, or more.

Or as I found, stuff you've sent tens times already in the last month.

75   leo707   2012 Dec 13, 3:06am  

Congratulations Bap, sounds like it is going well. Thanks for the update.

Bap33 says

I'm sure when they are all teenagers I will be keeping my daughter closer to the house! lol

Good luck with that!

76   Bap33   2012 Dec 13, 12:38pm  

15 kids, not 15 kinds .... 15 kinds made very little sense. lol

« First        Comments 65 - 76 of 76        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions   gaiste