I just sent an offer out for a property in my target area. $550 above listing. So why bash the banks as wasteful? This is the same property I bid on almost exactly 1 month ago. It was in short sale back then. The bank refused to go below their asking price. Now it is bank owned and listed for 5k below my original offer. Since there is one other bid out there, I am bidding just a hair above. Still its 4.5k below my original offer. I’m sure they have a valid reason (okay maybe not), but I won’t argue. The house in question needs only 7k worth of work has good curb appeal and would be a good starter project. Never know till you offer and try. Offer went out 10 minutes ago.

I got 1 other offer out and looked at 4 properties this week. Set to look at another personal home potential tomorrow. Feels good to be busy and actually accomplishing things.

Incidentally, I did not get the probate house. The seller got a last minute bidder that I assume was significantly higher then me or anyone else. Oh well. Least the seller got a better deal. That would have been a monster project for a newbie like myself. I would have eagerly tackled it, but I would be happier learning on a much less steep curve if the opportunity arises.

I talked about networking last post. It happened again. Not that networking ever stops, but I continue to be amazed at the number of people you run into when you simply open a conversation. Talk to Strangers. So I had a home depot rep over to give me an estimate on refacing my cabinets. I had no intention of using them now, but if the price was right I would down the road. Turns out there as expensive as Sears. 10k for my little 10×10 kitchen. I think not.

I gotta hand it to the sales rep though, he merely through out a number and recommended for me to not reface the cabinets. As we got to talking real estate, he started talking about his rentals and flips. Turns out he is a home inspector and only uses the home depot gig to supplement his income during slow times. His knowledge of homes in the area was excellent and he said many key things that led me to believe he does know what he is talking about. I may not have found a good deal for cabinets, but I may have found another inspector to utilize when need be. Always handy.

That’s all for now. Btw, go over to my buddy Scott’s blog Struggling Investor and congratulate him. He’s getting his first MLS offer out this week. He’s a big go getter and I would not be surprised to see him getting 3-5 offers out each week and taking some properties down soon.

I’ll leave you with this quote “Playing it safe is very risky.” Seth Godin, Purple Cow.