From the category archives:

House #20 – SOLD

3-Year Recap!

August 12, 2011

This weekend marks three years since we purchased our very first rehab property, so I thought I would spend a bit of time recapping what we’ve accomplished in the first three years, along with some of the statistics and interesting tidbits of our journey. Here’s a quick recap of our accomplishments: 24 Houses Purchased & […]

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House #20: Final Analysis

February 25, 2011

We sold The Lake House the other day (statistics and financial results below)…it’s was a quick project that didn’t require much work and barely generated our minimum profit target — but we’d do it again in a heartbeat… As I’ve mentioned, this is the first of three properties we’ve purchased in this subdivision. All three […]

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House #22: HOA Resolution

February 9, 2011

I posted last week about the fact that the HOA for The Lake House (which is also the HOA for The Leak House and The Trifecta House) had complained that we painted the house without getting approval for the exterior colors… Turns out their main concern was that the house trim was painted white, as […]

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House #20: Closing Scheduled

February 6, 2011

The Lake House has been under contract for a little over a month now, and we now officially have our closing scheduled for February 23… Both appraisals came back above the purchase price, and the buyer’s inspection went off without a hitch (they asked us to fix two extremely minor issues and we did), but […]

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House #20: HOA Issues

February 3, 2011

I was talking with a fellow investor the other day about the fact that I don’t post enough about the mistakes I make in my business anymore; I used to devote about 50% of this blog to the mistakes we were making and the things we were learning. While it’s true that — after a […]

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House #20: First Appraisal

January 14, 2011

The first appraisal on The Lake House came back today…while it took a week, all news is good… The house is under contract for $99,500 and the appraisal came back at $100K even. I’m pretty sure it could have appraised closer to $105K if we would have needed it, but appraisers tend to be conservative […]

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House #20: First Contract

January 3, 2011

I mentioned yesterday that we had received our first offer on The Lake House…but that there was a good bit of distance between the buyer’s offer and the minimum sale price we would accept… As I mentioned, we decided that we’d go back to the buyer with a take-it-or-leave-it counter-offer at our minimum acceptable terms, […]

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House #20: First Offer

January 2, 2011

We received our first off on The Lake House today, despite the fact that we haven’t yet finished the staging and haven’t even listed it for sale. Unfortunately, the situation is more annoying than anything else… An agent called us yesterday asking about the availability of The Flood House. We told her it was already […]

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Update for 12/27/10

December 27, 2010

Things have been pretty busy personally (we’re getting ready to have our second baby in a couple weeks), so I haven’t had a lot of time to update the blog, but I wanted to give a general update on the four properties we are currently holding… House #1: The Corn House It’s been almost two […]

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House #20: Budget Recap

December 13, 2010

We finished the rehab on The Lake House today… (will post AFTER pictures in my next post) If you recall, our preliminary budget on this project was $12,500, with the first estimate broken down here… Luckily, there were no major surprises, and we were able to stay on budget, coming in at just over $12,200. […]

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