I guess you can't win them all.

Last week I found another dump and got it under contract in hopes of assigning it to the the two-man investor team I met earlier.  To be politically correct, I shouldn't call this house "a dump".  I suppose instead I should say that it is "vertically challenged".  When you look at it from the street, you can tell that it leans a bit.  Not much mind you - just enough to notice.

Well, turns out that no one around here wants to deal with a leaning structure, so I had no place to pawn my contract.  The good news is that because I had never seen a leaning house before - and I wasn't sure if real estate investors would bite or not - I made sure I didn't have to close on my contract if I couldn't find a buyer.  No biggie really, just a simple addendum to the contract that gave me 72 hours to assess the damage.

At first I tried to offer less than the value of the land (just in case the house had to be torn down) but the seller wouldn't hear of it.  The 72 hour addendum was the only way I was willing to touch this one.

Thank goodness for that addendum because I am officially out of this contract.  I just hope I didn't lose any credibility with the investors I brought it to by presenting them with a house nobody wants.  I think I will call them back this week and ask them to discuss this house with me.  Maybe I can get them to tell me in more detail how I could have known it was NOT a deal??