Here’s a cautionary tale for all you investors who have to move fast to get a house you really look forward to selling or using as a rental. A quick summary is: don’t move too fast.
We Found a House
As you know, we’ve been looking harder than usual in Milam County, because we think the area may start to do better economically soon. We found a house we really liked. You would have liked it, too. It was in pretty darned good shape, in a really interesting neighborhood that did NOT smell like meth (one of our criteria!), and had really great curb appeal (however, we are not showing a photo, for reasons that will become clear). And there was a bonus empty lot behind it.
We made an offer on the house for a bit under the asking price, knowing we could easily rent it out and it would cash flow nicely. Once it was accepted and we were in the option period, we immediately ordered an inspection.
That Was Smart
Now, sometimes, especially in houses you know are a big ole mess, you don’t bother with an inspection. But we had a couple of questions about this property, so we brought in our favorite local guy and he looked around. The house was, as we had thought, in pretty good shape, but…Hermann says please like and share!