I obviously took a hiatus. Got into a bit of a tailspin there with all the changes. SO, I'll give you the short version. We'll go back to the last post about real estate. I took the bull by the horns and jumped in...with not so great results...initially. I bid on a home in Florida and only after realized that I didn't do my homework as thoroughly as I should have. Afterall, I should have NOVICE stamped on my forehead. Turns out there were significant liens on the property including a humungo mortgage. Yeah, not so cool.
I refused to lose my money so I asked for it back. In Florida you have to go to court and I "appeared" via the telephone. Turns out the lien I purchased was from the HOA. HOA's are very powerful in Florida and can sell your home in much the same manner as a foreclosure if you don't pay your dues. Anyway, the judge ruled that the property was mine and wasn't giving my money back. I spoke with several knowledgeable people and they said just write it off as a loss. CAN'T.
I did a bit of digging and found a website called "The Creative Investor". Awesome site. Guess what? I wasn't the only NOVICE and several people had posted similar situations to mine. The way to get my money back was to follow in the HOA's footsteps and rent the property. HMMMMM....
Okay. I finally got someone at the the HOA to help my by checking the house to see if anyone lived there. No one did. I took a trip with my husband and we did a thorough cleaning on the property. I had to replace some appliances...craigslist helped me with that. We found a realtor willing to manage the property as well for a monthly fee and I'm on my way. We will be listing at a price lower than everyone else and the home itself is in a very nice development and in a great location.
I must say that I've tied this up in a neat bundle for you to read. But, there was really a lot sleepless nights and negativity involved here. I ramped up on Kevin's cd's and followed Dr. Vitale's advice. I was also pleasantly surprised when my library got "The Law of Success in Sixteen Lessons" by Napoleon Hill. Its my new bible and I take it everywhere and read it all the time. I love this book. Read it!
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