Building long term wealth through rental properties.

Month: May 2017

A Break-in Before Closing. Who’s Responsible?

A Break-in Before Closing. Who’s Responsible?

Our soon-to-be house is a crime scene! Just kidding. But someone did break in. The story. With inspection over and all mortgage documents handed in, you’d think we’d be able to take a few days to relax before closing on our first property. But of […]

Why Inspections are so Important and What to Expect

Why Inspections are so Important and What to Expect

Inspection Day! This day has been long awaited. As an eager wannabe investor, I called to schedule an inspection even before attorney review was over. I was going to be the most proactive home buyer and no way would inspection related problems delay closing. That […]

The Unexpected Costs of Closing on a HUD Home: How We Spent Almost $2,000 on a Property We Don’t Even Own

The Unexpected Costs of Closing on a HUD Home: How We Spent Almost $2,000 on a Property We Don’t Even Own

I knew closing on a home in foreclosure could be a bit of a process. I’ve read the articles, heard the tales. But the process started out so smoothly, I thought we were going to be able to slide by without any real road bumps. 

We’re still under contract on our first rental property and it’s been anything but an easy ride. Since the property is a HUD home, and the utilities have been turned off, it is the buyer’s responsibility to call the utility provider, have the utilities put into the buyer’s name temporarily, and have them turned on. Easy enough. (more…)

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