this is our first attempt at blogging our REI story.
we knew very little about real estate except for the house we have lived in for 30+ years, but watching Dean one night i felt that i had to try this. so i ordered the books and over the course of last winter read and dogeared and took notes even though i wasn`t sure that my wife would go along with it all, but sure enough after a while she became more and more interested and excited about our new career. now we have been students of the sucess Academy for a few months now working our way through the program..we`ve learned tons so far and have tons more to go. last week we put in our second and third offers and recieved our first counter offer on both properties. we`re not sure how to play this offer/counter offer game. we made a cash offer for a REO house with a FMV of $110k and we offered $40k..it needs to be completly gutted, new walls, ceilings, and floors, kitchen cabinets, replacement windows...we`re getting some contractor estimates soon..but it`s a great location in a great central new hampshire town..(tourist destination for new englanders), so anyway the bank countered with $69k...it looks like that`s about the amount they got stuck with on this property. We also already have a tenent buyer ready to do a lease option on this house,...soooo we`re wondering if we shouldn`t counter too quickly so as to not too anxious..it`s been on the market a long time...i guess because it`s a mess, but our realtor says someone else was going to look at it soon, but isn`t that just an old used car salesman line?..sometimes i wonder about the motives of our agent...monday we`ll run all of this by PMI..still..if anyone has input we`d appreciate it.
thank you.......bo & becky
our new begining