New deal found, hope it works out

[Rich_in_CT]

Looking at houses in the neighborhood with similar sq footage on the same street there are a lot that have sold in the past few months over $200k.  This place listed at $189,900 back in July and was recently reduced again down to $130k.  Even with the great reduction the realtor.com ad has a marquis scrolling across saying bring all offers, so there is still neg room.  I emailed the realtor and she did say they would go lower.  Its a 2 fam with 3 floors.  Bottom floor is unit 1 and is 1213 sq/ft and 2bdr, floors 2 and 3 are unit 2 and is 1759 sq/ft and 4 bdr.  I was hesitant thinking it was an illegal change and the 3rd floor wasn't legit but tax records show the right sq footage.  Property looks nice, actually has 1/3 acre with in the middle of a city is good (most in the town you can spit out your window and hit the house 2 doors down).  Ad says it needs work, waiting for the realtor to get back to me and tell me what kind of work is needed.  I don't think it will need a ton being that the exterior is well maintained, don't envision a massive mess anyway.  If I can bargain it down a little I have some room to rehab it some and still cashflow.  The large 2bdr should get $800/mo and the huge 4bdr should get $1200 or so.  I got the address of the MLS, will be driving by tonight and having my realtor setup a showing soon if it looks good from the street.

[Rich_in_CT]

Well I drove by it, looks perfect.  It's in a low income area but not a warzone so the perfect mix.  Also a benefit is its only a few blocks or so from a place that has the best damn jamaican food in the state.

[rlack72]

Sounds like a great deal to me. Go for it and let us know how it works out.

[Rich_in_CT]

Going to see it Saturday morning if my agent can get it confirmed.  My hopes are that it needs a real good cleanout and only moderate work like carpet, paint and minor repairs.   My mom thinks its a bad place to buy, she's afraid of the area.  I am through that way for work a lot and go there a lot to pickup food.  I am familiar with the area somewhat and feel comfortable to some extent there.  I do need to get my concealed carry permit though and pick up my HK USP9 from my father.

[DannyTheGreat]

HK USP9

Great guns! Have yet to have a misfire with mine. Do us all a favor though and get a loooooot of training, far above what is required to get the stupid permit. Then practice constantly, shooting is a perishable skill that you can't ever be slacking on should the need arise. If you ever need your gun, there will be no time to line up your sights, it's gotta be second nature to hit your target with your heart pumping fast. I recommend to everyone; go running immediately before they go shooting to simulate the physiology as best as possible. Also to shoot moving targets while on the move. Any CQB courses going through a shoot house should be mandatory as well. If you don't have a callous on your palm from shooting, you ain't shooting enough!

[Rich_in_CT]

I have owned it for 12 yrs but haven't shot it in a while, I lost touch with my father about 5 yrs ago and he's had it for at least the last 7-8 yrs.  It was bought by him with my money when I was too young (14) and when my parents split up he took all of the guns with him since my mom didn't want them in the house.  I used to shoot quite well and be able to hit anything that moves, its been a while so I'd need some practice.

[DannyTheGreat]

Read these two books, they are invaluable.

On Killing: The Psychological Cost of Learning to Kill in War and Society

On Combat: The Psychology and Physiology of Deadly Conflict in War and Peace

Both are by LTC. Dave Grossman, Former Army Ranger turned psychologist. Coined the term "killology," the study of killing.

[LRrenewvating]

Rich in CT

Are you for real.  You looked at a place on 1/24 and are going to see it on 1/27?  Do properties usually remain available in your area for that long?

Here in York, PA if a deal was ever listed here that sounded like that and you did not get your offer in the first day your S**T out of luck.

How long do the properties there usually hang on the market?

Rick

[Rich_in_CT]

Rich in CT

Are you for real.  You looked at a place on 1/24 and are going to see it on 1/27?  Do properties usually remain available in your area for that long?

Here in York, PA if a deal was ever listed here that sounded like that and you did not get your offer in the first day your S**T out of luck.

How long do the properties there usually hang on the market?

Rick

This one has been on the market since last July, came on the market at $190k and was reduced all the way down $130k.  Not sure why it won't see but we'll see.

[LRrenewvating]

There is probably a fondation problem.

Rick

[Rich_in_CT]

There is probably a fondation problem.

Rick

Only one way to find out.  Also, its not exactly in Malibu either.....that could have slowed the sale.  Also, it might have waist deep trash which would deter nearly anyone and can be fixed for very little $.

[LRrenewvating]

Good luck,  I will be looking on Monday for your post as to why it sat for so long.

[Rich_in_CT]

I told my mom where it is, she told me (same color and size):

Are you out of your mind?????  This is the north end of HARTFORD!!!!
Please skip this one . . .

I drove through there last night after dark and it wasn't too bad, if I can drive there comfortably at night its fine for me as long as it cash flows.  If I won't go there I won't buy it.

[DannyTheGreat]

LOL

I always find it funny how people react to "bad" neighborhoods. It's like they think snipers are hiding in the windows waiting to shoot anyone who comes in. Then if the snipers don't pick you off, there are muggers and rapists hiding behind every corner waiting to prey on a passer-bys. When you drive your car through the neighborhoods, bad guys are going to jump out from behind the dumpsters and spray your car with bullets to rob you.

While crime is obviously more frequent in these parts of town, they are usually by some of the most unsophisticated criminals. The only people who get mugged are those that look lost no matter where they are.

[Rich_in_CT]

http://www.hartford.gov/police/Crime_Stats_Folder/2007%20Crime%20Statistics/2007_Jan_20_Citywide.htm