For over a year, Dan and I have been in search of a property to invest in and start our adventure in real estate. As we looked at countless properties, we'd alway ask ourselves these three questions:
1. Could we rent it?
2. Could we flip it?
3. Would we live in it? (i.e. the neighborhood?)
Buying a property of any kind is a risk, you don't know what you don't know! But we knew if we could answer yes these three questions then we'd always have a back up plan!
Mid January we came across a foreclosure that not only answered these three questions with a resounding YES!!! but the price was incredible! We knew it wouldn't stay on the market long, so one quick walk-through and we put an offer in on the spot! 48 hours later : offer accepted!!!
The unique part of this purchase is that it was in the first stages of foreclosure listing and was listed for "owner occupancy only". Meaning that the purchaser MUST live in the house for 1 year before selling or renting. Hence the move.
And because we have to live in the house, the contract allows us 60 days to renovate before we have to occupy....so the clock's ticking! Over the next 60 days we'll doing all sorts of updates and renovations! It's exciting and overwhelming!
We're so thrilled to be at it again and can't wait to share our journey with you all! No guarantees on how often we'll update this blog, but I'm so thankful for the space to document our adventures!