After being "retired" for 3 1/2 years I got back to it recently and got my Real Estate license. The reason for getting the liscense is that I wanted to rehab some properties and this way I could save on commission charges. We decided to do this after having a lot of fun rehabbing our youngest daughters house.

Two house away from the daughters house was a house with 5 junk cars, a boat and two riding mowers in the yard. Grass and bushes didn't get cut all year. The house was occupied so I didn't bother them. Then about 2 months ago they vanished and I tried to locate them with no sucess. Cindy finally suggested a week ago to talk to the neighbors and see if anyone knew where they went. I finally located a lady who said she could contact them.

It turns out that a few weeks ago the bank finally started foreclosure on them. The auction was set for Nov17. To make a long story short they signed a quitclaim deed today giving their interest in the house to me. To make my conscience feel better I offered them $3000 to sign the papers and at least they would get something from the deal and avoid the credit problems caused by the foreclosure. Now all I gotta do is get a payout statement from the bank which says it could take up to 10 days. Ten days from today is 2 days AFTER the auction - potentially not a good situation. I think it will work out though.

The good news? I think the payoff will be around $65K. Add to that the $3K bonus and $5-10K in repairs. Total cost should be under $80 and projected sale price should be $100-115K.

The bad news? This is a house full of junk furniture and garbage. I don't know how people could ever live like that. One bedroon must have 1000 cans of beer in it, many still partially filled. There is doggy dooo all over the house and still food in the kitchen. The fleas outside are so bad that they get on you if you even walk onto the driveway.

I guess we have our work cut out for us.