PJFrahm's blog

We found this great mixed use building, upper unit is a 2BR/1BA with an $800 cash flowing tenant already in place. The main floor is/was a flower shop, which will no longer be. The seller of the property is the owner of the flower shop. She wants to get out of the business and is selling the property. It also has a 2 car detached garage. The property has a basement. There is 2816 sq. feet, 2024 finished sq. ft. The main floor has a bathroom and two "bonus" rooms. We'd LOVE to rehab the property and rent out the main floor. The $800 will pay the loan payment while we rehab. There is money to be made, we just need a financer. Any takers????

We had to walk away from another one this week because of not enough meat on the bone. I have a question for folks, isn't our earnest money check supposed to sit in an escrow account UNTIL closing, not until final acceptance of our offer? The seller of the property we had to walk away from actually deposited our check the day before we were even supposed to inspect. From everything we've learned and listening to Matt Larson at various events has stated that they can't go and cash our check and it sits in an escrow account until closing. Any ideas????