This week's edition of SunShakSunday is going to be a little different.
I'm just going to rant on a few different topics and call it a day.
Please let me know if you enjoy this style.
With the new baby on the way, this might be the best I'm able to do for the foreseeable future.
Livin' La Vida Luna
It's crazy the difference a year can make at this age.
At 1 she knew a handful of words.
At 2 she knows the words to a handful of songs.
At 1 she couldn't walk.
At 2 she runs circles around us.
At 1 she ate her veggies.
At 2 it's bagels or bust.
We have three sales pending right now and they all seem to be hanging on by a thread.
We went under contract on all three more than 30 days ago. If you've been paying attention, the market has turned slightly sour since then.
It's not as if we're in a buyer's market, but the hay-making combination of incredibly low interest rates and even lower inventory seems to be behind us.
Anyway, two of the three properties we're selling are under contract for $50,000 over our asking price, and I can't help but feel like each buyer is trying to wiggle their way out of the deal because they're feeling a little bit of buyer's remorse.
How we're handling it: We're just saying "Yes" to all their requests to keep them satisfied.
- Can we see your T12 financials? Of course!
- Can you give us a $10,000 seller's credit at close? Just 10? Take 12!
- Can you fix the tiny crack in the sidewalk that's not even in front of the property? Sure... anything else? 🤬
Rant on Appraisals
When evaluating a fix and flip property, why do Appraisers insist on using the subject property as a comparable sale?
We're trying to sell a Duplex in Westfield, NJ for $600,000 and the appraisal came back at $515,000. 🥵
The outlier on the low end of the spectrum was the same exact property we bought a few months ago for $445,000!!!
Before the appraisal took place, we told the appraiser the back story. We bought the asset at a significant discount to market value because the previous owner was getting divorced and needed a quick exit.
We also shared how much we spent on the renovation, what was renovated, and a few comps they could reference.
All of that information fell on deaf ears. We're challenging the appraisal and expecting them to remove the subject property as a comp.
Keeping My Word
A few months ago we went under contract to sell a duplex in Madison, NJ. The owner of the neighboring property had to sign an easement document for our sale to go through.
We verbally agreed to pay him $15,000 for his signature, but we never put it in writing.
We sold that property a few weeks ago and it was a complete wash. We actually had to bring $5,463 to closing just to sell it.
The neighbor's lawyer has been trying to reach us, but we continue to ignore him. I think it's time to put this issue to bed. I'm going to write the check by the end of April and take it on the chin.
WTP?! (What The PUPPPs)
This week has been especially tough because Dia was diagnosed with something called PUPPPs.
PUPPPs is a wicked rash that develops on the belly when the baby grows faster than the skin is willing to expand.
It's been disrupting her sleep, her work...basically her ability to do anything. We found ourselves in the hospital on Wednesday trying to get stronger drugs to help relieve the pain and itchiness.
If it was up to Dia, we would have taken the baby out right then and there. That's not to say she's selfish, but proof of how much pain she was in.
All of the nurses and Doctors (at the hospital and OB's office) that saw her were surprised at how far she let it go before coming in for help.
The worst part about PUPPPs is that it lasts until a few weeks AFTER the baby is delivered. 😭
We were SO close to getting through this pregnancy without a major setback.
In case anyone's keeping score, we're adding PUPPPs to the already existing list of Placenta Praevia, Placenta Accreta, Preeclampsia, multiple Polypectomies, and probably a few other things I'm forgetting. (Wow, that's a lot of Ps)
I think it's safe to say BabyShak2 will be our last kid. Dia's pregnancies are like a 9 month season of Grey's Anatomy. Shit just keeps getting wilder.