Oh My God, We Just Bought A House!

We have been trying to invest in property with our friends here in Ohio forever. But it has never worked out. Well, this morning we went to the county sheriff’s foreclosure auction with 2 houses we wanted to bid on, and we got one. Talk about 4 people with their hearts in their throats. We were only bidding against the bank holding the note, so that kept the price down. Luckily there was no interest among the smarmy investor wannabes in rickety folding chairs (aside from us) to get all frantic and drive up the price. We got it for a bit less than we had decided we were willing to bid.


Bad market. And you bid without seeing the inside. 10% at the time of sale. Nuts. But you’ve got to start somewhere. Hatbox Louie could make a crackhouse look like Martha Stewart’s summer home, so I know it will work out. I boosted her so she could see through the front door window, and she was satisfied. It’s also great to share the risk with another couple. It should give us some time to get other things going too. This part of the world is ultimately not the place for us, but for now it is great to have a job to do.

So we have a project. Some traction. A little blue house on a suburban street in Northeast Ohio. Oh, how the strands of one’s life twist in unexpected ways. Medical school never prepared me for this. Or did it?

Published in: on January 19, 2007 at 11:29 am  Comments (2)  

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2 CommentsLeave a comment

  1. You said “you bid without seeing the inside.” I suppose there’s a medical correlation; you might not know what you’re going to find when you operate. Good luck with the house!

  2. Thanks for the wishes. It is a bit like medicine. We need to do an exploratory operation to see if that thing has a viable cash womb.

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