Lesson Learned: What a Failed Deal Can Teach You

Scott CostelloAll, Blog, Featured, Lessons Learned 10 Comments

Investing in Real Estate is almost never easy and many times you learn your most valuable lessons by deals that have fallen apart.  The only real hope is that these lessons are not expensive ones, but many times they are.  You can have all the mentors you want or have packed your brain with as much knowledge as possible and that still doesn’t mean you will escape the school have hard knocks. My Lesson Deal #2 is officially dead!  After 2 …

Deal #2 Update: How Patient Are You?

Scott CostelloAll, Blog, Featured 9 Comments

How much patience should one have?  I have plenty of patience and don’t mind waiting these people out, but is that always the best way?  I’m glad our first deal went very smoothly or else I would think all deals are like this current one.  Below is the time line of events and shows how sketchy these people can be.  To me a lack of communication is the most infuriating thing.   September  The beginnings of Deal #2 happened September 15th …

Marketing Monday Will Be Interrupted By The Following Announcement

Scott CostelloAll, Blog, Featured 14 Comments

I’m going to postpone Marketing Monday for another day because I’ve got an announcement to make….. Deal #2 is under contract! My partner did some great negotiating and as of yesterday (12/5/2011)  we have a signed contract for purchase.  As with the first deal I don’t want to divulge the details until it closes and we get paid.  I will tell you that this deal will not be a home run by any stretch of the means, but it will …

Turducken – What The Hell Is It?

Scott CostelloAll, Blog, Featured, Lead Tracker 4 Comments

The word Turducken is becoming so popular these days that you can barely find anyone who doesn’t know what the heck it is.  I even saw one in the food store the other day.  To me it sounds gross and I doubt I’ll ever try one.  Has anyone given it a taste? Deal #2 update Deal #2 is starting to resemble one of those birds.  I’m not quite sure what to make of it and not quite sure where it’s …

Deal #2 Update: Putting The Pressure On

Scott CostelloAll, Blog, Featured 7 Comments

The saga continues with Deal #2.  We sent the addendums to the attorney to review early last week and got word 5 days  later that he had forwarded it to the seller to take a look.   It’s amazing how long each and every step is with an attorney involved.  You try and be patient, but after almost 2 months of this crap you have to make a stand. So on Monday, after talking with our coach, we decided to send the …

Another Year Older And Another Year Wiser

Scott CostelloAll, Blog, Featured 3 Comments

I celebrating my 35th birthday this past week by taking off Monday and Tuesday from work to hang out with my wife and get some shelves built in my garage (I’ll take a picture of them when I’m done).  I also needed to buy a car because my BMW was about to run out of warranty and was too expensive to maintain with out it.   Think $190 for an oil change!!! I loved that car but it was time …

real estate investor contract addendum

Deal #2 is Progressing Slowly

Scott CostelloAll, Blog, Featured 5 Comments

About a month ago we came to a verbal agreement with a seller to buy a house.   Since that moment everything has been going at a snails pace.  This of course is because there is a lawyer involved who seems to not be making this a priority.  Besides taking a week to respond to anything we need from him he placed some addendums into our contract.  Non of which are terrible, but it just means the entire process will …

new deal

Huge Announcement

Scott CostelloAll, Blog, Featured 8 Comments

I just got back from my extended weekend trip to Niagra Falls.  The weather was cold and rainy, but we made the best of it and had fun anyway.  Two things amazed me on the trip, one was just how utterly impressive the falls are.  We took the Maid of the Mist boat ride and got to see the sheer power of the water up close and came away awestruck (and drenched).   The second thing that got my attention was …