House #28: The Full House

December 2, 2011

It’s been a long time in works, but we finally have House #28 under contract. It’s a short sale in the same neighborhood as The Lake House, The Leak House, The Trifecta House and The Fourfecta House, and because it’s scheduled to go to foreclosure auction next Tuesday, we literally need to start the [...]

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Update for 11/30/11

November 30, 2011

It’s been a while since I’ve posted…not so much because there’s nothing going on, but more because everything seems to be moving very slowly these days. But, here’s a general overview of what’s going on with the business:
House #26: The Fourfecta House
As I mentioned a couple weeks ago, the lender for The Fourfecta [...]

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House #27: First Contract

November 21, 2011

As of this past weekend, The Waffle House is officially under contract to be sold…
We’ve worked with the selling agent before, and we’re thrilled to be working with her again. She represented the buyer for The Corn House earlier this year, and that transaction went about as smoothly as we could have hoped. [...]

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House #26: It’s Not Our Fault!!!

November 16, 2011

Anyone who knows me or who reads my blog probably knows that a central tenet of my business philosophy is, “If *ANYTHING* goes wrong in my business, it’s my fault.” Sure, other people will screw up, other people will let you down, other people will lie, cheat and steal; but, there’s almost always something [...]

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Lots of Offers…

November 15, 2011

I’ve had a few people ask why we haven’t picked up any new houses in the past couple months…I assure you, it’s not for a lack of trying…
We currently have offers in on 6 properties that we believe we have at least a reasonable chance of getting under contract (we don’t submit a whole lot [...]

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House #28? Maybe not!

November 10, 2011

We had verbal acceptance of an offer on what would have been House #28 yesterday. The bank sent over the addenda that we needed to sign to make the contract official, and because we didn’t have an inspection period or any contingencies that would allow us to back out of the deal if we [...]

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House #26: Appraisals

November 6, 2011

Both of the appraisals are back on The Fourfecta House, and we’re very surprised — and happy — that they both came in at the purchase price…
The Trifecta House and The Leak House both sold for $5000 less than what this house is under contract for; given that they are in the same subdivision and [...]

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House #27: Budget Recap

November 3, 2011

As I mentioned in my last post, The Waffle House rehab is complete and the property is on the market. The project went smoothly, we did pretty much exactly what we planned to (with the exception of saving the laminate hardwood on the main level instead of replacing it with carpet), and ultimately, we [...]

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House #27: On The Market

October 30, 2011

I didn’t get around to posting much about The Waffle House renovation, but we finished it a couple days ago and got it staged and listed for this weekend…
The house turned out really well. Our biggest issue with this house was that we didn’t have enough staging furniture to furnish it (we have about [...]

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House #25: Final Analysis

October 26, 2011

We closed on the sale of The Drought House today… (see all the financial results below)
We originally purchased this house out of “desperation”…we hadn’t had a project in a while, and decided that we’d rather keep our contractors and ourselves busy, even if it meant possibly not making our minimum profit on the project ($15,000). [...]

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