Gettin' some action

The last few weeks have been pretty inactive on the REI front. (Professional RE investors on this blog say "No kidding.") But in the last 24 hours things have been happening. We've got about ten people showing real interest in our crazy lease/option plan. Almost out of the blue we've got a successful investor taking an unexplained interest in our REI work.

And just a few hours ago we got a call from a Realtor couple who we met with months ago, back when we were stumbling around asking Realtors if they could "help" us...somehow. They put us on their buyers list, and for some odd reason they let us know about a lead on a property. It's not a fantastic lead, but it's good. I can only guess that all of their other regular buyers passed, but we're looking at it tomorrow at noon. Here are the specs:

2 bedroom, 1 bath garden-style condo in Old Town, Alexandria. It's actually about three blocks from where I work.

The seller is the original owner. He's moving to North Carolina and just wants to get rid of it, apparently. Asking price: $200,000. Comps: $268,000 (according to the Realtors). It needs paint and carpet, that's it.

Now, I haven't been into this REI thing very long, but I've had the rug pulled out from under me enough times not to get all hot and bothered without doing serious due diligence. I'll definitely be doing that with this place, but for now I can reasonably say, "Hmm--this sounds interesting."

We've got an appointment at noon. I'll keep you posted. ;-)