Upcoming CD Packed W/ Valuable Info!

Greetings, everyone...

Steven and I previewed David's upcoming CD, which will also offer an exciting bonus, and do we ever wish we had had this valuable info several months ago. There is no doubt it would have kept us from wandering around in the "no-deal wilderness" all summer!

We especially appreciated the section on how to talk to sellers. It is excellent, and as David says on the CD, you need to listen to that part over and over and practice!

There will be more announcements later about the CD and the fabulous free bonus! So keep watching!

Yesterday, Steven and I drove to Franklin to look at a condo that came from an internet lead. We had driven by the building last week and even though it was built in '69 it looked quite nice from the outside. Looks can be deceiving, though! When we got there, the inside hallway was in bad shape and stinky. When the seller arrived and opened the door to his former residence, my very strong gag reflex kicked in and I had to leave. The owner had had the power turned off and forgot to clean the fridge!!! We have had this happen before, but this time it affected me more. Maybe because I had just eaten lunch, which included a tasty Dunkin' Donut.

Anyway, Steven said the place was in pretty bad shape. Kitchen had most likely not been updated since '69, needed new carpet and painting, and the seller was not in a position to take less than what he owed. We had had a feeling while waiting for the seller to show up that this would be a no deal. Even though the condo is located in downtown Franklin, which is very quaint and a desirable area, and the comps were OK, it would have taken a much, much lower price than $57,800 to make this deal worthwhile.

An interesting thing happened, though, after we left. We turned down a side street filled with Victorian and 20s bungalow homes that have been beautifully restored and are worth in the $300k and up range when all of a sudden, there it was...the house that did not fit. Unkempt yard, dingy peeling paint, mailbox on the sidewalk, and a vacant look about it.

Using three online resources, we learned that the house was built in 1900 and the last sale date was January 1, 1901! It has been in the same family all these years, I guess. And the present owner's address is listed in Nashville so we are guessing that she is elderly and living w/ family (since the Nashville address is a residence, not a nursing home). Or perhaps she is in a nursing home and gets her mail sent to a relative.

That's one of the things I like about real estate investing...the chance to be a detective!

We plan to go back and talk to neighbors (who probably would love to see this home restored) to see what the story is, and go from there.

Happy investing!