1-2-3 Flip : Page 74

Update for 10/8/2008

October 8, 2008

A general update on everything going on with the houses and the continued search for more properties: House #1: The Corn House We’re about a week behind schedule on this project (my very first project), but we’re getting down to the wire. Yesterday, we started staging the interior, and today we’ll be finishing staging and […]

0 comments Read the full article →

House #4: No Go

October 7, 2008

Well, it looks like House #4 is eluding me on all fronts… First, The Yellow Stain House is a no-go, as the bank rejected my revised offer, and claimed that my new offer wasn’t anywhere close to what they would accept. While I would have likely upped my offer a couple thousand more dollars, between […]

0 comments Read the full article →

House #4: New Offer

October 6, 2008

I mentioned yesterday that based on the inspection report I received on The Yellow Stain House, I was planning to ask for a price reduction from the seller (before signing the contract). Before deciding on how much of a reduction to ask for, I had a structural engineer visit the house on Friday to give […]

0 comments Read the full article →

House #4: Maybe Not

October 3, 2008

The Yellow Stain House caused some frustration the past couple days because the seller (the bank) didn’t want to provide a due diligence period; after giving them a large deposit ($5000) and agreeing to close in 2 weeks, they refused to allow me time to do any inspections before committing to the sale. While the […]

5 comments Read the full article →

Rehab Tip: Materials Discounts

October 2, 2008

One of the big advantages I believe I have in this business is that I am planning to scale quickly; if leveraged properly, that scale should provide me the ability to attract good team members, good deals, and good discounts. This week, I realized that leveraging that scale for good discounts may be even easier […]

7 comments Read the full article →

House #4: Yellow Stain House

October 1, 2008

As I mentioned yesterday, I had three offers submitted and waiting for response from sellers. Well, I received one response today, and it was a good one…I now have my fourth house! This is the third house mentioned in yesterday’s post, the 3 bedroom, 2 bath house built in 1988 that’s in rent-ready condition, and […]

1 comment Read the full article →

Back to Making Offers

September 30, 2008

With things so busy the past few weeks, and with being so caught up in the rehab part of the business, I’ve been slacking on the acquisition side of things. Now that I have my brother working for me full-time (wow, he’s awesome), I can start to focus some more time on finding new properties, […]

1 comment Read the full article →

House #2: Final Concessions

September 29, 2008

The Bulge House has been under contract for about 10 days now, and the due diligence period has just ended. This means that, while the buyer can still back out of the transaction if she wishes to, she would lose her deposit if she did. So, I’m hopeful that this contract will stick, and we’ll […]

0 comments Read the full article →

House #3: Demo is Underway

September 25, 2008

(Since you’re all here for the pictures anyway, you might as well start with them) We kicked off the rehab on The Second Chance House the other day, and are already making great progress. The key to this project is the redesign of the shared living space in the house, including the kitchen, dining room, […]

6 comments Read the full article →

House #3: Rehab Estimates

September 24, 2008

We finally got The Second Chance House underway yesterday (no comment on whether we actually own it or not), and I’m really looking forward to this project. I expect that house will turn out to be one of the nicest in its 200 property subdivision, and hopefully it will be able to attract some buyers, […]

0 comments Read the full article →

← Previous Entries

Next Entries →