Every once in a lifetime, a nice deal comes along that you suppose isn’t great, but you can’t walk away from it.
- I was at an auction a couple of weeks ago.
They were selling everything, including the property. I enjoyed ancient cooking utensils, so I went to the auction looking for a deal. The cabin had been abandoned about many years ago, when the family didn’t want it. The people who owned the house, died in a nursing home; abandoned love the house. There was no Heating, Ventilation and A/C and the only thing that looked sound was the foundation. I spent almost $100 on ancient cooking used, and then I put a quote in on the house. The paper said there was absolutely little property. I looked at my bank account and put in a silent quote for $1000 and I wanted everything that was left behind after the auction. Two hours later, I was called and told to bring the cash within an hour, and I would be the owner of property and the house. When I saw the deed, it shocked me to realize I had just purchased 1000 acres of farmland for only $1000. I brought my sibling along to look at the house. He said there wasn’t traditional Heating, Ventilation and A/C in the house, but there was an ancient coal furnace in the basement that looked love it was in nice shape, but there were also window air conditioner units. He could not be sure until he could plug them, but he was sure the A/C units would work. I asked what he thought it would cost to make the cabin liveable. He said it would cost a lot more than I paid for the 1000 acres, but less than a seventh of what the property was worth.