We didn't get the place. Someone came in with a cash offer better than ours. Who does that? Investors, looking to turn it into 3 apartments and pull in close to 5k a month, that's who, and we just can't compete with that.
I'm starting to get the impression that this is probably going to happen with any competitively priced place just coming on the market. My realtor says she hasnt seen this level of interest and activity for years, which means that the market is heating up and we need act fast.
We're still looking to do a rehab with the FHA 203(k) and following the market closely but for the most part, we're back to our former strategy of looking to low ball offer places that have been on the market for awhile.
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