Three State land baron???
 

Well maybe soon.

If all goes well the wife and I should add a third property to the "portfolio" (fancy financial jargon). Took a while to find a suitable abode, started out real low on the price scale and quickly realized at those prices there was more work than I intended to put forth - a lot of structural work. I upped my search parameters regarding price and started to find probables. Seemed like everytime I would decide and tend an offer someone else beat me to the punch. Of course I was trying to get in for the least amount so I shied off from any potential bidding wars.

Came across a candidate, but the price was almost 20K over my top price. Gave some serious consideration to a few facts before tending an offer. The house had been on the market for almost 6 months without a bite...obviously over priced. The price started out at 109.9K, the dropped to 89.9K. I let the house sit another week and got ballsey...offered up 65K.

The seller let the offer sit until the end of the 24 hour period then threw out a counter of 79.9K. Countered back at 70K, again the seller let it sit for the full day and came back at 75K. This time I was the one who let the offer sit while I considered continuing the horse trading. Marysville is a small town and word was out that the seller was talking at a price much lower than asking, I couldn't wait any longer so we agreed at 75K even. More than I initially intended to spend but still leaves me a payment less than renting.

It needs some work but it's all stuff I can handle. Downside is there is no garage, we'll have to see how things go maybe I'll be able to spring for one. As it stands I should do well when it comes time to liquidate.

The big house in California, the acreage in Wisconsin and soon a three bedroom 1100 sq/ft house in Michigan. Maybe I'll end up with a house in every State before this gig is over :eek: .

I have to admit this was the most fun I have had horse trading on a property. Not sure why, but I had a very carefree attitude which I think gave me the cojones to to take my time and open low. A very no pressure land deal all the way around.

Congrats, Mike!
I can't believe you can buy a three bedroom house for $75K...as you know, condos that size here in San Diego...start at around $300K! :eek:

How large is the property?

Mike,

Congrats on the new place!

When you're ready to buy another, maybe we could entice you to find something in middle Georgia, around say, a particular drag strip....set up as a little mercedesshop party palace for the racing GTGs? :D

Way to go, Mike! Not only a great price, but at a time when mortgage interest rates are at a record low.

Reminds me of one that got away about 15 years ago. There was a place in Eastern Washington, near Spokane, that was for sale. It was a former Nike missile base, complete with, I think over 40 acres of land, an underground silo big enough to turn a semi tractor and dual trailer combination around inside of, a lighted runway (gravel), several living quarters, all underground, and a sunroof over the silo so big you’d have to see to believe. All they wanted was $100K for it. Sigh.