From the category archives:

House #5 - SOLD

Update for 5/12/2009

May 12, 2009

Just got back from a weekend vacation to play some poker, and ready to get back to work…
Here’s an update on where things stand with each of the houses:
House #1: The Corn House
Nothing much new here. We received our first rent check from The Corn House tenants — on time! This marks [...]

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House #5: Final Analysis

April 24, 2009

As of a couple hours ago, The DIY House is officially sold!
This entire project has been insightful, fun, and rewarding — both financially and just from the perspective of renovating a relatively big house. This is the first major rehab we’ve done without a General Contractor, and we’ve quickly realized that managing [...]

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Update for 4/17/2009

April 17, 2009

It’s been an amazingly relaxing week…probably the most relaxing I’ve had since we started this business…
For the most part, we’re out of houses to work on. Most of them are under contract waiting to sell or under contract waiting to be bought, and other than looking for more houses, doing some book-keeping, [...]

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House #5: Appraised

April 14, 2009

It’s been over a week since we had the appraisal done on The DIY House. Based on what I wrote in that post last week, I’ve been very skeptical that the house would appraise for the selling price, despite the fact that it still appears to be priced well below market.
I found out last [...]

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Update for 4/10/2009

April 10, 2009

Wow, so much going on, and not enough time to write…looks like this is going to be another overall update to bring everyone up to speed:
House #1: The Corn House
The Lease Purchase tenants at The Corn House moved in last week, and sent us a very nice email just the other day. They [...]

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House #5: Appraisal Time

April 6, 2009

Okay, I must admit, I’m a little bit worried about the bank’s appraisal for the sale of The DIY House…
The buyers are getting a VA loan, and the appraiser came out today. I met him at the house, and was hoping to walk away confident that the appraisal would come back well above where [...]

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Update for 3/27/2009

March 27, 2009

Here’s a general update on all the properties:
House #1: The Corn House
As mentioned previously, The Corn House is under a Lease Purchase contract for the next 5 months, and hopefully we’ll be able to sell it by August. We met with the buyers a few hours ago to collect the security deposit ($1500) [...]

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House #5: Contract Signed

March 27, 2009

After all the craziness this week with the woman negotiating for The DIY House, I thought there was very little chance that we’d ever get to a final contract. She obviously was having cold feet (understandable for a first-time buyer), and I wasn’t sure if there was anything we — or her agent — [...]

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House #5: Contract Stalled

March 26, 2009

I mentioned the offer we received on The DIY House the other day…unfortunately, after several rounds of negotiation, we still haven’t finalized a contract…
Personally, I think the issue boils down to the fact that the buyer is getting cold feet. We’ve made what we believe are some very large concessions, and have even spoken [...]

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House #5: First Offer

March 24, 2009

It’s been a good couple days…
After receiving an offer on The Second Chance House less than 48 hours after putting it back on the market, we received our first offer on The DIY House today, just a week after putting it on the market!
It was a very reasonable offer, and while we’re negotiating [...]

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