Super cute house, isn't it?
Here are the specs: 2 bedroom, 1 bath, on a 1/3 of a 'subdividable' city lot {very sought after since city lots are a little harder to come by}, 5 houses down from the Christian school in a family oriented area close to trails and the river.
Listed price: $225,000
Negotiated down to: $200,000
Subdividable lot assessed at: $110,000
So...there it was...sounds like a good investment, non?
Well....we have learned over the years, that opportunities come across your path and you need to investigate and trust your gut since both sorta work together.
We love our simple life...no mortgage, not a ton of real debt (stupid quad)....but at the end of each month, there isn't alot left over for retirement, you know? So, flipping has been our side job for the past 7 years.....
BUT---savings are slowly going down and it seems time to try to add to them again? Enter, stage left, sweet yellow house with subdividable lot!
Education in subdivision begin.
Turns out, you can just walk into city hall, demand to speak with a city planner about the lot you are interested in....and they will buzz one right down to you!! wha??? oh, ya, of course they would...cool...i will wait here.
SO.....enter sweet female city planner with maps and drawings and colors.....fancy...but i tried not to look impressed.
I tell her my grand scheme to get rich! She points to my goldmine on the map and says:
"Its a beautiful area, but this area has a high density population already.......{and then the bomb dropped}, so even though the lot is technically large enough to subdivide....we would not subdivide it to make a dense area even more populated."
I sighed.....thanked her for her time....and kicked the door open on my way out with my hands in my empty pockets......
I suppose my ship will be coming in, another day.
I relayed my educational tidbit to the realtor, who was surprised as well....but on the upside, i may have secured a job in his office within the next few months? This was a good reminder that i love this realty game, but would never want to be a realtor.....but maybe being an assistant could be fun?
