Okay, only half-joking here. In my last couple of entries, I've written inpart about my dealings with my loan officer and agent. I guess now I have come to expect the unexpected, to steal a phrase. Last night, I discussed the latest shinanigans of my loan with my wife. She has a shorter fuse (a LOT shorter fuse) than I do about these things, but she just shook her head when I proceeded to talk about it. Her only reaction was that I find another broker after this property is closed to deal with. In many respects, I have to agree. Although, finding a proverbial needle in a haystack won't be easy. Maybe I should just grit my teeth with this and hope the next round of financial turmoil won't be as bad - (wishful thinking?). So, I decided that I'll call my loan officer today - excuse me?, I mean the loan officer's OFFICE (as I never seem to get him directly) - and ask to set up a meeting to discuss this whole issue. I'll be to booked today, so it will have to wait until tomorrow at the earliest.
Also, my agent sent the contract and addendum for another property that I'm going to make an offer on. It's the same property I almost submitted an offer on a little over a week ago, but decided not to. Well, I print the contract and addendum out, sign both, and go to sign the option consideration check out when I realize ... this is the WRONG address! After some more research I find the address on the contract doesn't even exist! I double-check my emails and notes, thinking I sent my agent the wrong information, but everything shows the right address. I have no idea how my agent came up with this address (note: to be fair, the error was in the number and not the street itself). So I send my agent an email asking her to make the correctiona and resend. I'm sure this would ave been caught sometime later, but, like my wife, I just have to shake my head and laugh. Just remember folks, proofread everything! ;-)
BTW, I didn't make it to the REI club meeting last night. My wife insited that I go (yeah, I was stunned, too), but I just felt drained from work and REI. I think had I gone, I would have only been half there, if you know what I mean.
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Well I ran some figures, and while I could get the 5% down and closing costs without a problem, my ROI will definately drop. I figure worst case scenario (refi, 6 mo. hold, retail w/agent), I'll have an ROI of 3%. Best case will be 87%, and that's doing a L/O with everything going as planned. I guess I should just be happy it'll be above 0% (I hope, anyway). :-/
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