Ramblings

Business Plan
As I said in my last entry, the talk I had with my mortgage broker regarding the need to treat this venture as a business really hit home. I've been using the time in-between (when I have time that is) to research writing a business plan. Even if I never use the plan to secure any type of financing or whatnot, it will still give me better insight on what it is I am trying to do and how I plan to do it. The Small Business Administration is probably the best source for this type of thing. There are also real estate investors out there who push their own business plans (for a price, of course).

My RE Agent
I sent my RE agent an email the other day asking her about a few items. The main item was the addendums my wife and I signed last week that she was supposed to send me copies of. She said she's been busy since she got back from the July 4th weekend, but would have them to me ASAP. It's now Sunday, and I still don't have them. She also said the people who were supposed to look at my property last Tuesday decided instead to wait for today to see it. She asked me if I was still firm on my rental price, and I told her 'yes'. I'm thinking now that maybe I should just lower my rental price to get someone in the house just so I can sever the ties with this agent.

Foreclosed Multi-family Units
I did some investigating over the weekend, and found not one, not two, not even 3 or 4, but FIVE multi-family properties that have been or are going through foreclosure. Interestingly enough, all of them are within a stone's throw from one another. Four of them are duplexes and one is a 4-plex. Stay tuned.