For those that have followed my blog, you may recall that huge 12 property deal that never materialized. Basically, the owner lived in California and was (supposedly) having financial problems. He owned 12 properties around the Austin metro area with several being in my 'neck of the woods'. The deal fell through because the owner was not being forthright in delivering needed information and I just felt I was being led around on a leash. The peoperties themselves weren't great by any means, but would have been a decent acquisition to my portfolio (hah!).
Well, I was looking at some listings during lunch today, and what did I find? One of the owner's properties. However, when I read the details of the sale, it said "Bank Repo". Sad - very sad. I did some more searching, but that seems to be the only one of his that shows up (for now). I figure he lost some, most, or probably all of them to foreclosure, but the others are still waiting to be put on the market. I say "sad", because I invested time in talking witht he seller, but he just refused to work dilegently with me. It's evident now that he WAS in dire financial strates, but I can only do so much on my end to help someone. Short of buying a plane ticket to California and twisting his arm, there was very little else I could do to convince the owner to deal with me more.
Oh well, a sad story I thought I'd share.
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You can't help people who won't help themselves.
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