Monday, June 26, 2017

This is the house that I ALMOST closed on in Kansas City

Here's the Kansas City house that I was in contract to purchase for $125,000.  Isn't it cute? And in a nice neighborhood too! It had been (well, maybe not so much) totally rehabbed.  I was planning to rent it for $1250/month and have it managed by a local company.

I had it inspected and -- alas -- it didn't do so well.  There were minor issues that I could have either over-looked or had inexpensively repaired.  But the roof that I thought was brand new was really just patched, and there was a serious (and expensive to repair) water intrusion issue in the back of the house and the basement.  With a heavy heart, I cancelled the escrow.  I guess the takeaway is "buyer beware, even if you're a Realtor." I haven't given up on Kansas City, although this week I am looking in Memphis.

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