From the category archives:

House #7 - SOLD

House #7: Some Pictures

May 27, 2009

They say better late than never, so…
We actually sold The Roach Duplex a couple weeks ago, and I never had the opportunity to post pictures of it before selling it (it was pretty much a wholesale deal, so the Before and After pictures are exactly the same).
But, now that we are buying the duplex next [...]

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House #7: Final Analysis

May 14, 2009

This is going to be a quick Final Analysis post, as it’s for The Roach Duplex, a property we’ve essentially put no time, work or energy into…
In fact, aside from visiting it twice before purchasing it, putting a new lockbox on it after purchasing it, and meeting the buyer there to sign papers the other [...]

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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 #7: Third Offer

May 7, 2009

Hopefully the third time is a charm in trying to sell The Roach Duplex. After a ridiculously low offer that we turned down, and after a failed attempt at getting a buyer to follow-through on their contract, we now have a third offer…
My wife received a call this morning to check the duplex out, [...]

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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 #7: No Go

April 15, 2009

I mentioned last week that we received a second offer on The Roach Duplex. Based on the fact that the buyers were treating this purchase from the perspective of an owner-occupant (while this property is clearly geared towards an investor with some rehab experience), I was skeptical that it would ever get through due [...]

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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 #7: Second Offer

April 7, 2009

We just got our second offer on The Roach Duplex (which again, is no-longer a “roach duplex”)…
While a little bit weird, it was a full-price offer. The weird part of the offer is:
- Buyer is requesting 7 days due diligence
- Buyer has a financing contingency
- Buyer has an appraisal contingency
While this isn’t uncommon for [...]

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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 #7: First Offer

March 12, 2009

We received our first offer on The Roach Duplex today…and rejected it…
We listed the property on the MLS last week, and in that time have gotten quite a few calls. Many — I believe — are from potential owner-occupants who are scared off when they see the condition of the property (it needs about [...]

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