From the category archives:

Financial Analysis

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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Thinking About Rentals

January 13, 2009

As I mentioned in my 2009 Goals, it’s time to diversify our business model a bit and start accumulating some property to build longer-term cash-flow and to reap the benefits of future appreciation when the markets turn. We’re certainly not giving up flipping houses — we just love the idea of a alternate exit strategy […]

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House #3: Rehab Costs

December 24, 2008

Now that The Second Chance House is ready to be put on the market, I decided to do my final accounting to determine how much Iâ€™ve spent rehabbing this property. I’ve been tracking my budget closely the entire project (of course), but until the past few days, it was unclear if I’d come in under […]

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House #4: Final Analysis

November 22, 2008

As of this afternoon, The Yellow Stain House is officially sold! This project has been at times frustrating, at times fun, and has presented some very unique challenges. Specifically, one of the most difficult aspects of this project has been deciding what our exit strategy would be. We considered a major rehab and flip; we […]

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House #4: Finally Mine

November 4, 2008

Good News: I finally closed on The Yellow Stain House today! While closing on this house is a good thing, it’s a reminder that things don’t always work out the way you plan, especially in this business. I’ve been learning that lesson repeatedly over the past couple weeks. Here are some of the roadblocks and […]

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House #4: Rental Analysis

October 31, 2008

Because we’re seriously considering holding The Yellow Stain House as a long-term rental, I put together a full financial analysis for renting this property to give us an idea of how lucrative this approach would be. Of course, I did a preliminary analysis a long time ago indicating that the property would work as a […]

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House #2: Final Analysis

October 21, 2008

As of this morning, The Bulge House is officially sold! It’s been both fun and educational going through my first complete cycle of flipping of a house, and I can honestly say that I’ve learned more in the past several months than I ever expected I could. Now that The Bulge House is officially sold, […]

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House #1: Purchase/Rehab Costs

October 18, 2008

Now that The Corn House is officially on the market, I did my final accounting to determine how much I’ve spent to both purchase and rehab this property. My original budget for this project project was $30K, plus 10% for “surprises,” for a total budget of $33K. Additionally, my goal was to keep total costs […]

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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, […]

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House #1: Financial Update

September 24, 2008

It’s been about 5 weeks since rehab began on my first house (The Corn House), and we’re starting to near the finish line. Appliances, hardwood floor installation, some back-splash tiling, and a bunch of exterior work are all that stands between present condition and completion, and for the first time in several weeks, the house […]

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