Saturday, August 22, 2009

Cross your fingers and don't breathe, some quads dangle almost within reach.

I could not be happier to say that I have TWO quad deals in the making that are looking very good right now. Even though I was out of town all week, I still somehow managed to make phone calls and drive to the Panera and Office Max parking lots to send emails (I was much too sweaty and covered in paint splatters to venture out of the car!), which was enough to keep things rolling along on both deals. I must say I'm quite proud of myself for doing this unique form of multi-tasking!

I got back yesterday evening. Today, Saturday, I went to Quad Deal #1 with a contractor and hard money lender to get a firm repair estimate and figure out if its going to meet the financing requirements like I think it will. I'm thrilled that the contractor's bid came in exactly within my target. Rock on with my bad self! I've always been pretty good at estimating repairs, but wasn't so sure on a 4 unit building like this, especially after reviewing the home inspector's notes (which I had happen while I was out of town, a good and bad thing but at least I know there's no big surprises). Little things times four can really add up to big bucks. But, the contractor's numbers were good, so now I get to move forward one green space towards the closing table. Nobody breathe, please...

Of course, now I am starting to get nervous. This is the time when deals often begin to fall apart for me, and my confidence is slightly rattled from past failures. I've been doing some thinking about my past unclosed deals though, and I'm sure that this time I have better deals, more experience, and more confidence than I've ever had before. I am resolute in my determination to make these things close. IT WILL HAPPEN. And this time next month I fully expect to be the proud owner of two lovely quads that will bring me a nice chunk of monthly cash flow and ease my family's worried minds. Yes, it will happen. I know it will. I know it will. I know it will.

Still too nervous to discuss too many details and jinx the whole thing, but I do promise that as soon as the closings happen I will happily tell you all the whole story for each one. How I found them, what I did to buy them, etc.

Until then, please sleep with your fingers crossed under your pillows for me. My 2009 Big Goal #2 is getting closer and closer to becoming a reality. I could really use all the luck and support I can get!

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