New property owners again

[MontyJ]

Well, it's not quite official yet, but we are under contract to buy a third lot on our little dirt road. It's adjacent to the lot we bought 5 years ago. We should close this coming week. I hope we do close soon because I'm off to NC for the week of the 22nd. The place was foreclosed on 18 months ago and I have been watching it closely. We finally became too much trouble for the drug dealing previous occupants to overcome.
We didn't want to have to buy it. I was hoping my friend would be able to get it. He low balled it with an $8000 offer and was shot down. Then I saw an older fella looking at it and we struck up conversation. He asked all the right questions. Then he asked if I owned the adjacent lot. I said I own the next two lots. He asked me why I did'n buy this one. I told him 17500 was too much. He said the finance company would take less. Then he proceeded to tell me that a person could probably put two trailers on that lot and rent them out.
That sent shudders up my spine.
So, that night I called the realtor and offered 8000. This was before my friend tried the same thing. I explained to her that I owned the two lots up from it and was interested. This was on a Saturday. The following Tuesday I got home late from work and Dew said I needed to call the realtor. When I did, she gave me some terrible news.
The fella I talked to that day was an investor who bought up Greentree foreclosures all the time. He did indeed make an offer on the property and was definitely planning on putting two trailers on it and renting them out. She (my realtor) then said that she pitched my $8000 offer and also pleaded my case to Greentree. Apparently, the rep took pity on me and understood my concern. She (the rep) told my realtor to counter with $12000 and see where I went.
I countered with 10000, and we finally agreed to 10500, signed on the line. Whew!!!
Like I said, we didn't want to buy it, but the thought of two cheap rental trailers on that lot was just unthinkable.
Surprisingly, the trailer on the lot is in very good condition. I have a little bit of work to do on it, but it will be ready to move into later this summer. That means I don't have to dump any more money into the other place we own, which I was just about to do. We can move into the new place, and finally tear ours down to make room for the new house!!!
When the new house is done, we already have a renter for the new property, my friend that couldn't go high enough to get it. If he doesn't want it by then, I have 4 daughters. It will make a great backup home for one of them.

 

[baymule]

What a deal! That was a defensive move to keep crappy rentals from disturbing your Paradise. Glad you were able to close the deal and avert "there goes the neighborhood" Happy for y'all.

 

[dewdropsinwv]

I was amazed at the condition of the other place when we went in to see what would need fixed. Just a few out let covers, light switch covers, new carpet in the living room, and flooring of some sort in the kitchen, and a few soft spots in the floor and walls.
The grass needs cut...what a sight. I will paint the walls though they are a nasty color. On the plus side,,,, I already have the paint!!!!!

 

[Chickie'sMomaInNH]

congrats!

you mentioned the former occupants were drug dealers. just be sure they also didn't 'cook' anything on the property. that stuff can make the whole property toxic to live in/near.

 

[baymule]

Well what do you know, real estate moguls right here on TEG! We can say we knew y'all when ......

 

[dewdropsinwv]

@Chickie'sMomaInNH We have been threw that with the second property. We found spoons used for ???? And used needles ect. We did not find anything like that in the 3rd place we are buying. at least not in the house. Now the out buildings are another story.... hopefully we wont have to be the ones cleaning those out.

 

[MontyJ]

A defensive move...that's exactly what it was Bay. When the bank took the place I told Dew that I would do whatever was necessary to keep those kind of people off this road. If there was even a hint that it might go south, I would buy it. Two rental trailers on that lot? Are you kidding me? All I could think about was the type of people that would attract. After all the work it took to get rid of two trailers full of dope head thieves, I couldn't bear to see it come right back.
I remember telling Dew years ago that we would end up owning both of those lots. I told her the lifestyle they were leading only had one possible ending. It's just a shame that we have to buy up the whole dang road to keep people like that out.
This is a dead end dirt road, with seven lots on it. Pappy Dick lives at the head of the road and is in his eighties. His daughter Janice and her husband Keith live on the next lot. The field where I plant my garden contains a power line right-of-way and can never be built on. I know the owner. She is more than happy to let me garden there, as I have for nearly 15 years.
The next three lots are mine now (or soon will be once we close on the third). The last lot is owned by Dorothy, an elderly lady who is tickled pink that we cleared out the trouble makers and bought the other lots. I suppose when she passes her son will come to me and try to sell me that place too. I guess if the timing and price is right, I'll consider it.

They weren't cooking Chickie. They were pill dealers, thieves and welfare/SSI scammers. Unfortunately, there's a lot of that going on around here these days. In fact, when I finally got them busted, it wasn't for the drugs, but the thieving.

Like Dew said, the grass? needs cut. It's butt deep to a buffalo over there. There are four outbuildings and all are full of trash and junk (not household garbage, thank God). I could try to force the seller to clean it up because of a clause in the contract:

but that could go both ways. I would probably have to get a lawyer, go to court, argue and fight; all the meanwhile the junk is still sitting there. I can rent a 20 yard roll off dumpster for about $600 and just clean it up myself. The way I see it, I got rid of the human trash, I might as well finish the job.

 

[so lucky]

You are very lucky they weren't cooking meth. My sis and her DH sold their modern house near St Louis...great neighborhood, clean and desirable. The new owners got caught cooking meth, and the house was subsequently condemned, then eventually torn down. I know it hurts Sis to think about it, after living in and loving that house for 15 years or so.

 

[Ridgerunner]

I recently bought an acre to the north of us for the same reason, defense, though that was a friendly purchase. I told him if he wanted to sell talk to me first. He did and I bought it. I've also talked to the people that own across the road and to the south, telling them the same thing. I'm not worried about the guy to the south but the people across the road are pretty elderly. When they die their children will sell it and it would be great for development. Even if it is houses I don't need that right across the road. I don't have anything against trailers specifically, I have friends and relatives that keep theirs really nice, but some people are called trailer trash for a reason.

If there is much metal in that trash maybe you can sell it to help pay for removing the other trash. But the odds are all the good trash like that is already gone. Metal may be the reason they were caught stealing. That's fairly common around here too.

I guess congratulations are in order. Sounds like a solid defensive move.

 

[Nyboy]

I go back and forworth about land behind me that was for sale. Was sold but DEC labeled it wetlands unbuildable. Because no one can build on it no one wants it, I could at this point mostly get it for back taxes. While I could get it cheap,I am undecided about having to pay taxes on it. Good news is who ever owns it there will never be a house built on it will always stay woods.