Yep. After all the drama. All the back and forth. All the ups and downs. My first apartment deal is DEAD. Call it doctor: time of death Thursday July 10, 5pm eastern. The cause of death is what’s ridiculous. Again, to recap (please indulge me if you’ve seen this before) Mr Seller and I agreed to terms last April 15th. He produced all of the required due diligence documents up front, except for his 2007 Tax Returns…
Author: Dennis Fassett
I'm pleased to report that after multiple decades of hard-headed stubbornness, I've finally figured out that all work and no play makes Johnny a dull boy. So I've taken it upon myself to convert my wife and now adult(ish) kids into a roving band of merry adventurers.
From horseback riding in Monument Valley to ocean kayaking in Acadia - all of our exploits have earned the coveted "epic" label from the younguns.
I'll tell you about them - and also about the other "adventures" I'm having in my real estate investing business.
You can also find me over at DennisBuysHouses.com
Off-Topic Friday: Captain Picard v Captain Kirk
I have thought for a long time that Star Trek is a metaphor for life. Especially for work and business. But as much as I try to explain it to my wife, I still usually get the blank stare (you know the one I’m talking about), even though I converted her into a STNG fan when we were courting way back in grad school in 1990. (She doesn’t like or get Monty Python either) I…
When It Happens to Them It’s a Recession – When It Happens to You It’s a Depression
GREAT. I wrote a blog post a couple of days ago about Indymac shutting down it’s lending operations. Something about a Pig Through a Snake. Perhaps you read it – about capitalization issues taking down another lender – blah blah blah blah. It was mildly interesting but not earth shattering because, hey, it didn’t affect me! Then late yesterday afternoon I finally received a call back from my intrepid commercial mortgage broker. I had called…
I’m Fuzzy On the Whole Good/Bad Thing.
Be careful what you believe. The home sales numbers for June are out – and Hooray! Sales of homes were UP last month in the metro area over June last year! And not just UP – but up almost 12%! Let’s throw a parade a celebrate the bottom of the real estate market here in Metro Detroit!! The days of Mai-Tais and Yahtzee are back! Not so fast. Sure the numbers are up in the…
A Pig Through a Snake
The carnage and destruction of the mortgage industry continues – with no end in sight. Just days after Countrywide became part of Bank of America on July 1, Indymac Bancorp, the 11th largest producer of US home mortgages, suspended their lending operations yesterday and immediately stopped accepting any new retail or wholesale mortgage applications.  The company posted the first annual loss in it’s 23-year history last year, and it’s stock price, having been as…
Off-Topic Friday: A Hedge Fund Roach Motel?
Since this blog is dedicated to the pursuit of commercial and residential cash flow properties, I want to introduce a new feature this week that will let me stray and post my observations on various things that have happened throughout the week that don’t relate to real estate. I’m calling it Off-Topic Friday, although because of the holiday I’m posting a day early. Today there are a couple of items to review: Item #1: Rush…