[Don Kircher]

Don Kircher

Thank you for the replies.

We were saving the true HBS for a real 110% effort after the holidays passed. As it
turned out, only one of the three families actually showed up. The right family with
the proper motivation and money in hand.

Yes we did give away a lot on this home. That was intentional as this was more a
proof of concept then it was a serious transaction. We bought for eight, spent thirteen
on the rehab and another three on holding costs. I had to nudge the price up a bit from
our original 29900 to give us some breathing space. A skinny profit. I was more
interested in return of capital than a return on capital.

I like to call this our training trailer. Our investment will drip back like an annuity
and get rolled into future investments.

If she runs away after a year or two we’ll just do it again with better terms for us
the next go around. If she completes the deal, I’ve already planted the seed that we
would take this home back as down payment on a better home down the road.

I’d love to have a copy of Jack Miller’s 18 page lease with statute citations.

Our entire goal was to work through the process without getting (too) bloody.

Cheers

Don