The QuickFlip House Has Sold!

Astute businessman Hick had a wild hair of an idea to buy a house that we really didn't have money budgeted for. The Pony, our silent partner in this real estate venture, had money tied up in the Double Hovel flip house(s), and could not contribute to the purchase. Even though he offered to cash out some investments to put in what he could afford, we told him that was not necessary. Still. The Pony IS our silent partner, notified of any deals, and contributes to the expenses of renovation and maintenance. So in my opinion, was entitled to half the profits. Hick and I used our investment money for the cash purchase. No skin off our joint noses. 

Anyhoo... the paperwork was completed at the abstract company on Wednesday. Everything legal and recorded, without the need of a realtor. We recouped our investment, plus a profit of 60 percent, total. The Pony received half the profit, and we got the other half. Not a bad deal for only putting in minimal work on the property. That being a door to replace the one that the naked man destroyed, and hauling off trash when cleaning out the house and mobile home out back. 

We had a tense moment on Tuesday evening, when The Buyer said she couldn't get insurance, and wanted to wait until it was procured. Seems no company wanted to insure the property with a mobile home on it. Hick told her just to insure the HOUSE. That the mobile home could used as be a utility shed. Something worked in our favor, because by Wednesday morning, The Buyer had insurance. We proceeded with the sale at 2:00 as scheduled.

We signed the paperwork. The Buyers showed up before we left. They did their part in a separate room. Then we heard the facilitator ask if The Buyers wanted to talk to us. Sure. Hick had been working with The Buyer all along. Plus, she had her mother with her, who was the person who wanted the house, and would be living in it. 

Hick had given The Buyer a key, as soon as we closed on the QuickFlip three weeks ago. So she could start working on anything she wanted. Just as the guys Hick had made a purchase agreement with had given HIM a key several months ago to start making any improvements he wanted. The whole "handshake" agreement thing had me crazy over legalities, but in this case, it worked out well for all concerned.

Anyhoo... the buyers came into our signing room, and Hick gave The Buyer the keys, and a business card with the name and number of the guy who sold us the QuickFlip, because he still wants to get his tractor out of a shed on the property. Again, all agreed-to by us and The Buyer. 

The Old Lady who will be living in the house was so nice! And excited to get the property. Hick told her she should come to the Senior Center for lunch every day. It's only a few miles from this house. She doesn't know anybody in the area, and seemed excited to have that option.

All things considered, this was a win-win deal for everybody involved. We received a nice profit, and The Buyer got a good deal, according to real estate prices in this ares. ALSO, she asked if we knew of a plumber, and I volunteered that Hick had done all the plumbing on our house, and The Pony's house, and the Double Hovel flip house. Hick asserted that he charges $40 per hour for his services, but mostly contracts by the job, so costs are known up front, and nobody can say he's taking too many breaks and running up the fee. 

Meanwhile... work on the Beauty Shop half of the Double Hovel continues, and is almost complete. We will be using a realtor on this one, to get maximum exposure, and an optimal price.