Wow, it was bitterly cold today. The high was 16 but the wind was whipping at 30 mph so it sent a chill right through you…. it was almost unbearable. Even my little snowdog Teddy couldn’t take it. Usually when I let him out to do his business in the morning he plays in the snow or meanders around sniffing the ground for 20 minutes, not today, he did his thing and raced back inside within a minute and headed straight for my jacket to warm up!!
Teddy Warming Up
Well, enough complaining about the weather… not much you can do about it anyways, except move down south (Hi Mom and Dad).
So it looks like the two family on Leete St will be the last rehab that we buy in 2009. We’re hoping to close on the sale of 37 Mansfield St before the new year, but I’m not sure thats going to happen. We need the building inspector to sign off on our Certificate of Occupancy in order to close, and he is away on vacation and nobody within the building department seems to know when he is coming back???
Heres a look at Leete St. I don’t have any inside pictures because it is still boarded and I didn’t have my screw gun to get inside. The great thing about this property is that we’ve got a homeless guy living in the shed behind the house…. I’m sure he’s not gonna want to pay us rent so I think we’ll have to evict him!!!
Leete St
This house is located in a section of town we normally don’t buy in, but it was a good deal and we are looking to establish a good business relationship with the private lender who owned the property.
I’ve never really thought of Springfield as a good town for flipping. Last I heard the RE market was getting overrun with foreclosures.
Just wondering what your take on that is?
Hi Alex,
We’ve got our share of foreclosures just like most other markets but it’s not overwhelming. Most of the damage done by the foreclosures is in the inner city neighborhoods and areas with lots of multi families. We mainly buy outside these areas in the single family neighborhoods.
I think Springfield is a good market to be flipping in. It’s probably the most affordable city in MA, there are alot of first time buyers, and theirs a real diverse housing stock with plenty of older homes that need rehab.
Thanks for questions.
Looking good!
With the homeless guy, do you actually have to go to court to evict him, or is there some other way you can get him to leave the property?
Also, is the private lender who owned the house financing the deal, or did you go to a separate private lender?
Thanks again for starting the blog this year. It’s been a great inspiration!
Hi Ingrid,
I was just kidding about evicting the homeless guy… I think we’ll probably just ask him to leave and remove the shed he’s been staying in (it’s in bad shape).
The private lender who owned this did not fund it. He already took a loss once on it and we sold him on just selling it to us cash and being done with it. We will be working with him on some new projects though.
Thanks for the questions and thanks for reading!!
Oh, ok, LOL! I thought maybe this guy had some sort of squatter rights that meant you had to go to court to evict him. Good to hear that’s not the case!