From the category archives:

Deal Analysis

Lonnie Deals

September 10, 2009

While this site is primarily geared towards flipping houses, I like to use the blog to highlight all the real estate activities of our business, even those that don’t necessarily have to do with rehabbing or flipping. And we’re planning to start branching out just a bit…
For those not familiar with the concept, there’s [...]

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House #5: Some Details

January 3, 2009

As I mentioned before the holiday, we have another house that we’re ready to pick up. The DIY House is (finally!) officially under contract, and we’re hoping to close the middle of this month.
Here are some pictures…
The house is a 3/2 split-level with a large eat-in kitchen, separate dining room and large open living [...]

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House #4: New Plan

October 29, 2008

As I mentioned yesterday, The Yellow Stain House is currently in a flood plain, and I have no idea how that will affect resale value and future insurance premiums. I do have enough information to know that the problem is probably not too bad, but it will likely take several weeks to get a [...]

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House #2: Going to Closing

August 18, 2008

I mentioned earlier that House #2 had some potential water damage, and that the due diligence indicated a few more problems than I had expected. Based on those things, I went back to the bank (the seller) before my due diligence period ended, and asked for a $5K reduction in price. They countered [...]

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House #2: Due Diligence

August 12, 2008

I’ve talked a little bit about The Bulge House, and now that I’ve gone through some of the due diligence — and am fairly convinced I’ll go through with this purchase — I’ll go into a bit more detail…
First, here are some pictures…
From a numbers perspective, I’m picking this house up at around $61,000. [...]

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House #2: The Bulge House

August 6, 2008

Looks like I picked up my second house yesterday. While this one is far from a done deal, I submitted an offer, had several round of counter-offers, and ultimately we came to an agreement on terms and price (i.e., we have a contract). The reason I say this isn’t a done deal (other [...]

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House #1: Some Details

July 28, 2008

I officially signed the contract for House #1 (”The Corn House”) on Saturday. And as promised, here are some more details:
* First, some pictures of the new property. The basement pictures aren’t in here yet, but since I’ll likely be finishing the basement, I’ll upload those when I get a chance. If [...]

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House #1: The Corn House

July 26, 2008

It’s only Saturday, but it’s already been a good news, bad news weekend…
First, the bad news: Offer #2 was a day too late, and buyer who submitted an offer a day before mine got the house. I was hoping that he’d back out during the 7-day inspection period, but that period expired on [...]

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Strategy on Offer #2

July 24, 2008

Yesterday, I mentioned putting in an offer on another investment property. Some people have asked me what I’d do with this property if I get it. The nice thing about this one is that I believe it has multiple good exit strategies…here are some more details…
The house is an REO (bank-owned foreclosure) listed [...]

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House Buying Philosophies

July 14, 2008

I’ve been working with a real estate agent the past couple days who continues to try to sell me a few overpriced duplexes. I’ve tried to explain to her several times my conservative buying philosophy, but it doesn’t really seem to be getting through to her. Today, I received an email trying to [...]

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