Update on Townhouse Purchase Offer

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I offered $100,000 on the $115,000-listed townhouse. The owner came back with $110,00. I came back with $105,000, and the owner accepted my offer. More details to come.

It seems that more houses are now being priced to sell. The agent selling the house that I am purchasing told me that she priced the house 10% below what other, similar houses were selling for. Even after that deduction, the owner took 10% less than the lower price. I think there are a lot of motivated sellers out there right now.



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Fixer Jay Webpage Worth a Look

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One of my favorite real estate investing authors is Fixer Jay DeCima. He has a very informative webpage at www.fixerjay.com. I regularly check out his blog posts located on the website.

As I have mentioned before, I think Jay's books are exceptionally good guides to learn about the fixer-upper business.

Here is a review I wrote about Jay's latest book:

Start small, profit big in real estate

The Quickest Way to Lose Money

What is the quickest way to lose money in real estate?

Find out in my latest ezinearticles.com article.


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Making an Offer on a Townhouse and Mulitple Careers

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House Shopping

I am making an offer on a fixer-upper townhouse. It's a 2 bed 2 bath unit in a row of about 10 townhouses, where I already own another townhouse. It's not the proverbial "worst house in the best neighborhood" but it's located in a mixed lower-middle to middle-class neighborhood where there is good demand for housing.

They are asking $115,000 and I am offering $100,000. I'll let you know how it comes out.

One Person/Multiple Careers

I began reading Marci Alboher's intriguingly entitled book One Person/Multiple Careers. It's interesting to read about other people doing similar multiple careers to what we part-time real estate investors are doing. I'll post a review of the book here soon.


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Real Estate Investors and Recession

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Looking for ways to get through the recession?

Check out my ezinearticles.com piece entitled Proactive Responses to Recession - 7 Creative Ways to Make Extra Money With Real Estate.

Over at rei.locomonowebsite.com the next installment review of Fix em Up, Rent em Out is up. It is entitled Seeking the ZEN within Rental Properties.

The article is all the more interesting because Mark discusses his own insights and experiences from running a house painting business. It's well worth a look!



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