Now Here's A Shocker!

Got a call from the cabinet guy and guess what? Delayed again! He said his guys told him they wouldn't be done by 4 PM today. He's gonna call me in the morning with a time to meet tomorrow. He sounded very dejected. As Trisha noted, it will be interesting to see if he will really pay me the now $600 he owes me.

Finally, Some Good News!

Spoke with the cabinet guy today. We are meeting between 4 PM and 5 PM Monday to inspect the cabinets. If all is ok, he'll only owe me $500 in late fees... But I'm at the point now where I won't believe this job is done until I actually see it.

Tucson Property Auction Tomorrow!

I know it's not much notice, but if you are in the Tucson area or interested in buying land in the Tucson area, there will be an auction of 85 properties this Saturday (tomorrow). These are properties a judge has forced the Catholic Diocese of Tuscon to auction to settle abuse claims. From what I heard on the radio, most of the properties are empty land. However, the auction is a "no reserve" auction, so the highest bidder gets the property, no matter how low the bid. Details and registration info can be found at http://www.amgre.com. Click the "Listings" link and then the "May 21, By Order of US Bankruptcy Court, S. Dist. of AZ 85 Properties Throughout Arizona owned by the Archdiocese of Tucson" link.

Making Some Money

Well, one way or another, I will be making some money on this property. I just called Joe The Cabinet Guy and asked for an update. He said "You're gonna be making some money on this." He'll call me at the end of the day to give me more details, but he did say he knows what he signed and he's good for the money. I'd prefer to make more money by selling the place, but $100 a day is better than nothing.

Wait mode

Not much going on the last seven days. The cabinets at the house are supposed to be in and finished by 6 PM tomorrow. I pulled comps again for the house and that process just proved to me that real estate really is an inefficient market. I used the same site to get the comps as I did two months ago and it returned a completely different set of houses. I got 20 houses each time and there wasn't a single duplicate between the two lists. And the sales dates spanned about the same time frame too, so it's not like the more recent one showed a bunch of more recently sold houses. But at least the prices were fairly consistent.

I received the second interest payment from my hard money loan and was told the loan may be paid off early. This is nice, as it just increases my ROI. I'm also going to Las Vegas next month, so the extra money will come in handy!