So right and proven so wrong.

     Well had a huge weekend doing BBQ. Still had customers coming to the house 3 hour after I was sold out yesterday. Total Profit was just over 1200$. That means I had money to buy 4 cases of butts and ribs plus the money for that property. I decided to walk the property before I sent off the money. Make sure it was a sure thing.

     I waked the property end to end looking for the utility connections, None to be found no where. The power pole had been dragged up at some point but no septic or water could be found. The property was nice but had a lot of scrub brush taking over , So I went up on the road to find the water meter, nadda couldn't find it. While on the road the lady across the street came out to find out what I was doing.

    I told her I was thinking on buying the property and was looking for the water, septic and power hookups. She knew the family. I was informed the Aunt lived in the house and her nephew had the mobile home on the lot I was looking at. The mobile home used the houses water and septic . So my lot doesn't have any.  She said when the aunt died her daughter got her house and told her cousin he need to get his own water and septic tank she wasn't going to pay his bills like her mom had. He moved instead.

   So I have to pass while 930$ is a great price  water and septic will cost  6500 to 7500  so no profit to be made. Glad I took that walk when I did !!!!! My wife gets her way  and I wait for a better deal.

I got the Deed.

    I have been on pins and needles about getting the deed on the property I wanted for a BOL . The state sent me a letter in February that they would issue on April 1st.  For some reason I was afraid something would come up and I would get a "we no longer have any interest in this property to convey " letter. Well I got the Deed by certified mail today :) . As nice as it is to have it will be a back burner project.

     Today we hung sheet rock in the bedroom of the trailer and tomorrow I will start on the living room sheet rock. I hate sheet rock but hanging it is not to bad . I am still thinking about hiring the mudding and finishing work. Before I make up my mind I think I will attempt one side wall to see how I do . If you don't try you will never know if you can. It has been a slow time all I got done last week was buying the sheet rock and finish hanging the insulation. My son did paint the exterior while I was on vacation with its base coat. My daughter picked a darker gray for it but when it was painted and dried it looks BLUE . I hate it but she likes it so what the hell its going to be her home not mine. Once the sheet rock is hung I plan on hitting his place hard everyday for 2 weeks so he can move in and do the little stuff himself . After sheet rock my daughters place is all small finish work I can do alone and hopefully my son can do the same. We have been getting on each others nerves and we both know a blow up will happen if we don't put some space between us soon.

Good deals till i am broke.

       As I have wrote in the past I have been researching state held tax lien property. Today I received a slip saying we have certified mail at the post office . Its from the state property office so tomorrow I will have the tax deed ! Next week me and my son will get to secure and winterize this house to stabilize it till I have the money and time to work on it.

     When I sent the money for this house I set aside 2500$ for the repairs and renovations to bring it to sellable shape. My son was going to live there as we worked and until it sold. The best plans change without warning.

     Last Friday the great state sent us 5 parcel prices that we had requested . We submitted 28 request and have received a total of 12 price quotes. Out of the last 5 there was 2 we couldn't pass up. One of them was 2 acres in a nice farm area for 128$ but its just a lien till May then it can be deeded . It is over grown but has a teardown house and small barn that would yield a lot of lumber . My son loved it so I sent a check. Small price to get him a place. He now has 3 places that will be deed able in May. I hope and pray one of them isn't reclaimed.
      The other parcel is less than 2 miles from my home. It has 3.25 acres  is on a good road and has 240 acre of timberland behind it that will never be sold and is 30 years from harvest. It has an old mobile home and a shed. It has power, water, gas and a septic system on site. Unfortunately it has a high price 4,600$ but it is an immediate tax deed . AS it sits it is worth 12,000$, with a 1,000$ in materials and 2 days on my tractor it would bring twice that.

  As I said earlier I had 2500 set aside for the first house. Now with this 3 acre available I need it and will be barrowing 2,000 from the wife to make it happen. instead of plunking down the money we are going to do a 4000$ dollar loan on CDs. But it will leave my cash on hand below what I like.
    I worked hard to save this money it had been for a truck but I couldn't pass these deals up. 6,000 out of pocket with property alone worth 24,000. After repairs possibly up to 42,000 . 5 liens possibly becoming deeds in May both kids out on there own with a second property each. Yea its a risk but it has a good return.

     I HOPE I DONT GET ANY MORE DEALS I AM BROKE again.

We Got the house !!

    Today in the mail we got a letter from the state our check for back taxes was accepted for this old house. It was owned by a mortgage company that wrote it off the books in 2010. The state was owed 5 years tax of 1553$. The property is over 1/2 acre with power, water, gas. It has  2 out buildings and the house is 1200 ft. Now the house is in verrrrrry bad shape. My wife says tear it down but I want to save it if possible .Next week I will spend most of it cutting into the kitchen floor . The floor in 2 rooms is rotten and sagging, the walls and other 4 rooms seem sound.

   Here are 2 pictures from google earth taken in 2008 when someone was living in it. 7 years vacant has took a toll  and crackheads had a field day striping the piping and wiring .

  It is possible to find cheap land held by the state the internet has links do your research!!!

      Looks like I will be a busy boy for a while . Will it be a rental or sold is still up in the air.