Hope.

A couple of weeks ago we got a postcard from a local Realtor boasting that she'd recently sold a condo exactly like ours, in our complex. for $10 large more than we owe on our place. Intrigued, I called her up and invited her to assess our place with the hopes of selling it for that much. She came over and said she could easily list our place for the same amount in good conscience, however, closing costs would mean we would have to pay $10,000 at the table.

Damn.

But I got a call a couple days later from this Realtor saying she had a friend/work associate who might be able to help. Short story: he's interested in doing a lease option, which is what we were advised to do by a local RE associate/proximate mentor. That guy contacted us, and today we chatted about his and that to see what our options are.

There are no guarantees, of course. My credit isn't terrible, but it isn't great, either. We're hoping to unload this albatross condo and rent for significantly less, but he thinks there's a possibility to buy a new place. But strike that--I trust him. It's more than I can say about a lot of people out there. They all want to sell us something, or enroll us in some "mentorship program." The bullshit factor is quite robust in real estate investment. (I tried to explain that to the assistant of a local "guru" who's been calling me incessantly for the last couple of days trying to pitch me yet another "system." Note to newbs: give out your e-mail address carefully...)

Anyway, we'll see what happens, but it feels like a gift from God to have someone interested in our situation. I know he hopes to profit somehow, and God bless him for that, but he seems like a legitimate businessman who understands REAL customer service.

So much better than those buttwipes at Taco Bell, but that's another story...

The Big Question...

Not that I want to get into it, but my wife and I have had a long-running debate about the benefits of moving back to the Pacific Northwest. Well, she wouldn't be moving "back"--she's a local girl. (Someone called me a liar in a combox on that one, but I assure you, it's true! I've met her parents!) I've always said we should definitely move out west. She's hated every trip out there she's ever made. Reasons include the rain (which is less than the average rainfall of D.C.), cold, and "rednecks," among other things. I've always thought if you're going to raise a family, you should probably be near family. But now that we're getting into the very industry my family's in, we could learn from and partner with them.

I admit, I'm more torn now. Northern Virginia has its pluses. Surprisingly, our little church, St. Mary's is a big one of them. It's the first time we've ever had a community of like-minded Catholics nearby, and though she's been Catholic for only a short while, even she knows that this is a relatively rare thing. (We're known for, among other things, how fast we skeedaddle out of Mass at the end.)

Anyway, we have yet to make a deal, and we're starting to wonder if this is even possible in NOVA. The weekly "Deal Alert" I get would seem to indicate it's very difficult. People are tearing it up in Maryland, but here...not so much. We know we have to try something else, (making dozens of offers through MLS isn't cutting it), and we will, but now another option is on the table: moving west.

Like I said, I've got family there, and they're either developers, contractors, electricians or real estate agents. The cost of living is cheaper, and while the market sucks right now, it might be just as good a time to buy as it is here. (Or...I think it's a good time to buy here, anyway...) I want all the stars to align on this one, and we'll be praying hard for the next few months. But...we'll see. I'm hesitant for reasons mentioned above, as well as for reasons I won't go into here.

I'd welcome anyone's thoughts, questions...

Also, are there any investors from the northwest reading this site? What's it like out there? I know Seattle's great, but I wouldn't want to live there. That DOES live up to its reputation as rainy, cold and miserable.

Anyway, help me out, folks. I've got one of these bona fide Big Decisions coming up, and unless we make a deal in the next few months, our decision might just be made for us. As it is, we've crossed a line and I now have to become a part-time mover in my after-hours...

Anyone know how to defuse a WWII-era missile?

It's a serious question because there's a slight chance I'll be getting a hold of a property with one of those in the basement. I hear it's got quite a bit of other exotic ordinance in the basement, too.

I'd originally looked into the place about a month ago. One of the gents at Flipping Homes (see sidebar) had already been there, of course, but wasn't able to talk them down to a reasonable price. Aside from the ammo dump downstairs, there was quite a colony of critters living in the roof, and a host of other problems necessitate at least $100,000 in repairs. I don't anticipate being able to negotiate any better than the other guy, but who knows, maybe they'll start to get realistic soon. The realtor seemed to understand their situation. He told me to call back at the end of the week to see if a current offer went anywhere or not.