From the category archives:

House #1 - LEASE OPTION

House #1: Refinance

August 24, 2010

I gave an update on The Corn House yesterday, and forgot to mention one thing. I’ve had about a bunch of my own cash tied up in this house for the past two years, and without refinancing my cash out (i.e., using some financial leverage), my ROI on that cash investment is ending up [...]

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House #1: Summer Update

August 23, 2010

I’ve had a couple people ask me for an update on The Corn House, and I realized that it’s been a while since I’ve even mentioned it…
My last update was in May, at which point the lease-purchase tenants were making progress on their credit and we were pursuing both FHA and NACA financing for them. [...]

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House #1: Update

May 11, 2010

It’s been a long time since I’ve provided any updates on The Corn House, and I’ve gotten a couple inquiries over the past couple weeks, so here goes…
For those who haven’t been reading this blog for long enough, The Corn House was the very first house we ever purchased. We overpaid a bit, and [...]

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Update for 2/26/2010

February 26, 2010

Here’s an end-of-the-week update on all the houses and other stuff going on…
House #1: The Corn House
We found out that the lease/buyers for this house haven’t been paying off their credit card each month like the credit repair company suggested. They likely would have qualified last month if it had not been for [...]

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Update for 1/29/2010

January 29, 2010

Very quick update on all the houses and other stuff going on…
House #1: The Corn House
According to the credit repair company we have them set up with, the lease-purchase tenants may be close to qualifying for an FHA loan. I don’t know if that’s actually the case, but we plan to have them [...]

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Update for 12/21/2009

December 21, 2009

I haven’t had a chance to post in a couple days because I’ve been out of town, so I thought I’d give a quick update on everything we have going on these days…
House #1: The Corn House
Nothing much new with The Corn House. The lease-purchase tenants are consistently paying their rent, and their [...]

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Update for 9/15/2009

September 15, 2009

Let me first mention today that my wife and I are expecting our first baby any day now (he was due this past weekend), so if you notice a few days where the blog is not getting updated, you’ll know why…
Anyway, I think it’s been about a month since I’ve done a [...]

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House #1: Contract Extended

August 30, 2009

If you recall from our last general update, our lease purchase contract on The Corn House is about to expire at the end of August. Given that the buyers hadn’t much improved their credit since April, and worse yet that they had bounced a rent check (that they immediately replaced with a cashier’s check), [...]

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Update for 8/16/09

August 16, 2009

First, just wanted to remind people of the great rehab blog over at TomTarrant.com…not only do I appreciate the mention Tom gave of our first year recap on his blog, but I consistently learn a tremendous amount about the rehab process by watching his videos and following his flips. He does a lot of [...]

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Update for 7/24/2009

July 24, 2009

A quick update on where each of the properties stand:
House #1: The Corn House
We’ve collected four on-time rent checks, and according to the contract, we should be closing on the lease-option on this one at the end of next month. Unfortunately, based on the credit check that the mortgage broker ran last month, [...]

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