Just heard back from my agent around 3:00 AM this morning. I received a late-night/early-morning e-mail that woke me up… Well, it’s official, I’ve been approved by the lender for rental property #2! This was a short-sale that took 3 months to go from acceptance of the offer to final lender approval.
Now the real fun begins! I have to come up with around $70,000 by the end of February (and secure a bank loan). More updates to follow soon.
Just got word from my agent that the prior deal (the one that sold for $75k over listing) fell through. I didn’t receive all the details, but my initial guess is that the financing became a problem. This would seem likely if
Some of the more recent entries I’ve posted have been about real estate investing. More specifically, I’ve been sharing updates on my search to locate a rental property. In my last post, I mentioned that there was one additional open-house I would be attending. I took a look Sunday morning, and as it turns out, this property ended up being