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Leveraging the MLS

February 11, 2009

I talk to a lot of people who wish they had access to the MLS. They want to get first crack at the new deals that pop up, they want to be able to get the lockbox codes for the foreclosures they want to look at, they want to be able to do searches for […]

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House #5: Rehab Underway

February 10, 2009

It’s been just over a week since we closed on The DIY House, and already it’s undergone a nice transformation… We completed demo the first day (including removal of all fixtures, all flooring, all cabinets, countertops, etc). By the end of the second day we had finished scraping all the popcorn texture from the ceiling […]

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House #1: Under Contract

February 9, 2009

I mentioned the other day that we had received an offer on The Corn House, but weren’t sure if it would actually lead to a contract or not. While I wasn’t confident it would happen, we were able to get the property under contract today, and we’re scheduled to close in early March. This was […]

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Two Offers? Or Not?

February 6, 2009

Yesterday, I mentioned that we got The Second Chance House under contract. A few hours later, we got another offer on The Corn House. Both offers came through the same real estate agents (representing two different buyers). Unfortunately, at this point I’m not convinced that either deal will go through; while The Second Chance House […]

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House #3: Under Contract

February 6, 2009

After 33 days on the market — and a couple near-offers — we got The Second Chance House under contract today. I’m a little surprised it took so long, but given this real estate market, I shouldn’t be. The house is beautiful, and based on all the great feedback we’ve gotten these past several weeks, […]

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Commission Frustrations

February 5, 2009

I mentioned a while back how thrilled I was that my wife had gotten her real estate license; both from a control standpoint (making our own offers, doing our own negotiations, MLS access, etc) as well as from a financial standpoint (keeping our commissions). Well, today we hit our first snag in our effort to […]

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House #7: Some Details

February 3, 2009

I’ve mentioned The Roach Duplex a couple times in passing, and wanted to throw out a little bit more info (and an exterior picture)… The duplex was built in 1943, has 4 bedrooms and 2 bathrooms (2/1 on each side). It’s a side-by-side, one-story property, and probably needs about $20K worth of work to get […]

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House #6: Financial Analysis

February 2, 2009

As mentioned previously, The Red Garage House is likely to be the first property I hold as a rental. Based on the numbers I’ve put together, I believe that I could likely flip it to a retail buyer if I wanted to, but given that I probably won’t find an excessive number of relatively new […]

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House #7: Lots of Calls

January 30, 2009

In trying to wholesale The (Former) Roach Duplex, I put a number of ads on real estate websites and placed a few signs around town. I was very surprised to find that I got fewer than 5 calls yesterday from my marketing, and was getting a bit discouraged. But that all changed today. Between 8am […]

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House #5: Officially Closed

January 29, 2009

We closed on The DIY House today, after two months of negotiations and twiddling our thumbs. The nice part about the long closing time was that we had the opportunity line up most of our contractors for this one, as we’re sub-contracting all the work instead of bringing in a GC. Between our handyman, roofer, […]

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