You just never know what will happen when you are looking for houses to renovate. It’s a good thing Carol stays on good terms with the people she’s worked with in her house search, because this time, it really paid off.

Remember the “Hoarder house” that Carol looked at a couple of weeks ago? She really liked it as an investment, because while it had a lot of stuff lying around, the bones were good, and it’s in a part of Round Rock where we’d buy houses all day long if we could. However, another investor put a contract on the house before we could, so we moved on to other prospects.

But Wait!

This week, Carol got a call from the fellow investor who had been selling the house. The original purchaser had backed out of the deal, so we got offered the first chance at it. Carol was pretty thrilled to say, sure!

What Happened?

Well, it wasn’t great news, so send good thoughts to the family of the man who’d lived there previously. All of his health issues got the best of him, and he passed away. Now, that suddenly means that the new purchase of the house can’t close until after probate and other legal issues have been resolved. The investor who had signed the contract before us could not wait for that. They had wanted to close quickly, so that’s why they backed out.

We’re Fine with That

Since last week we went from one project in progress to two or three (more on that later), we were not put off one bit by the delayed closing. That will give us time to work on some other projects, and a lot of time to line up the financing. With our small staff, two projects at a time seems to work well, so we’re okay waiting a couple of months to get started on this one.

The circumstances make us sad, but we are glad to be able to restore this house to a good condition for a new family. Estate properties are one of the kinds of deals we specialize in, so we are confident the Hoarder house, now known as Parkwood, will have a happy outcome.

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