68th Street

5/21/22 (3/1 & 1,299 sqft)

The first one is always the hardest, right? Well I hope so because there has been a lot of trial and error. 68th street's inspection checked out and already has tenants occupying it at a month-to-month basis. Current tenants are paying a few hundred under fair market rent for the area since they have been there since the start of 2020. Game plan is to keep them for a few months and then see what route they would like to go weather it is paying fair market rent for the home or transitioning over to Section 8 tenants which was the plan all along.

Having this property "pass" was a huge relief for me.  My first accepted offer was a home on Coath Avenue and everything was going as planned until the inspection. Turns out there are foundation issues with the home and I chose to back out, Get my earnest money back, and wipe my hands clean and go onto the next one. This was quite frustrating because the sellers agent was not clear on their representation of the home and well I was out an inspection fee but I learned right there the importance of inspections. Why I say the sellers agent misrepresented the property to me and my agent is because prior to my accepted offer someone backed out before me and we were told "they had problems with funds and got cold feet." When really the buyer payed for an inspection just like me and noticed it had foundation problems and walked. Something I want to mention that I found quite funny was once the sellers agent heard I was backing out they more or less begged for me to buy it. "Is there anything we can do to make this work? another price reduction? Seller do work? Anything  we can do to excite you again?." Once I received this I wanted to send back yes, there is once thing you can do and that is be fully transparent when you represent this home to your next buyer. Rather I politely said no I will still be backing out. Well enough of my rant I am, just glad to get things started with 68th street.