From the category archives:

House #6 - SOLD

House #6: Final Analysis

October 2, 2009

As of a couple hours ago, The Red Garage House is officially sold!
This was a long and sometimes frustrating project, mostly from the perspective of trying to sell it. In all, we had dozens of interested buyers, six formal offers, three contracts, and of the six months it was for sale, it [...]

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House #6: Fifth Offer

September 16, 2009

After my small rant yesterday about The Red Garage House being “the bane of my existence,” we just received our 5th offer this morning!
But, unlike the previous four offers, I’m actually confident that we’ll be able to get this one closed. The buyer submitted the offer this morning, and gave us a deadline of [...]

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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 #6: Fourth Offer

August 26, 2009

We received our fourth offer on The Red Garage House today…
As a reminder, our first offer was back in April, and that one fell through in mid-July, after months of underwriting hell, culminating in a low appraisal and the buyer losing his job. We put the house back on the market, and quickly got [...]

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House #6: One More Time

August 19, 2009

Quick post today, as we have some visitors in town this weekend…
As I mentioned a few days ago, we got The Red Garage House under contract for a second time. Unfortunately, this deal just fell through last night after the buyer got cold feet.
We had received a second offer that same day we accepted [...]

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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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House #6: Second Offer

August 11, 2009

After having The Red Garage House under contract to sell for several months, it’s now been back on the market without an offer for nearly a month.
Today we received our second offer (the first offer since many months ago), which is nice considering how many times we’ve gotten positive feedback from buyers on this house. [...]

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House #9: Closing Delayed

August 10, 2009

We were scheduled to close on The Hat Trick House tomorrow (Tuesday). But, apparently the closing attorney is a stickler for the RESPA regulation that states that the buyer must receive the Good Faith Estimate (GFE) at least five business days before the closing. Since the buyer didn’t get the GFE until last [...]

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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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House #6: Dead Deal

July 12, 2009

We got the 3rd appraisal back on The Red Garage House, and it came in well-below the purchase price…
While this was disappointing, it gave us the impetice we needed to just kill this deal once and for all. After nearly three months of underwriting hell, dealing with idiot mortgage brokers and a [...]

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