From the category archives:

Houses

House #14: Sale Update

October 5, 2010

As I mentioned a couple weeks ago, The Pine House is under contract to be sold, and we’re in the process of working with the buyers to finalize their inspections and appraisals… We’ve completed all the repairs that were noted in the buyer’s inspection, so we don’t expect any additional rehab costs at this point. […]

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House #19: Budget Update

September 29, 2010

In my last post, I mentioned that my budget for The Flood House was all over the place, and without additional information from county inspectors and contractors, I wasn’t going to be able to nail it down… Well, over the past week, we’ve made a lot of progress. We met with the local code inspector, […]

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House #19: Preliminary Budget

September 23, 2010

As I mentioned in yesterday’s post, we’ve set a budget goal of $34,500 for The Flood House… If we overrun this budget, we run the risk of missing our profit goal, especially considering the how hard it may be to sell a property that was recently flooded. And given the risks on this project, overrunning […]

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House #19: Some Details

September 22, 2010

I mentioned in my last post that we picked up another house — The Flood House. First, here are some pictures… The property is a 3 bedroom/2 bath house built in 2000. It’s 1400 square feet on a single story (slab foundation), and located in a very nice little neighborhood a bit further out than […]

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House #19: The Flood House

September 21, 2010

We just put House #19 under contract yesterday…and unfortunately, it was a victim of the major flooding we saw here in Atlanta last year… I’ve mentioned many times about the flooding last September, and the real estate market around here is just starting to see the repercussions. Because many of the houses that were affected […]

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House #14: Inspection

September 20, 2010

The buyer for The Pine House had her inspection late last week, and the inspector was one of the most thorough I have ever seen. He spent about 3.5 hours at the property, knew the building codes forwards and backwards and really worked hard to make sure the buyer knew every potential issue… The good […]

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House #18: Rehab Complete

September 17, 2010

We finished the rehab on The Haggle House earlier this week (total of three days), got some appliances installed yesterday, and are finishing up the cleaning today. We’re planning to start looking for renters this weekend… This was our smallest and quickest rehab yet (as it’s our first rental property and the goal wasn’t to […]

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House #18: Exit Strategy

September 16, 2010

If you’ve been reading the past week, you know that we have another house under renovation (The Haggle House) and have been trying to determine the appropriate exit strategy for it — Hold As Rental or Rehab & Resell. If you’ve looked at the financial analysis I’ve done for each of these options, you know […]

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House #18: Rehab Plan

September 14, 2010

We closed on The Haggle House yesterday (sorry, no pics yet), and rehab is underway… This should be a very quick and easy rehab — essentially it’s just paint, carpet, replace a few light fixtures, replace a broken pedestal sink, exterior pressure-washing, and a good cleaning. We’ve chosen a darker carpet for this one, in […]

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House #14: Third Contract

September 12, 2010

The Pine House is officially under contract for the third time… As I mentioned in my last post about this house, we haven’t had much traffic through this property since the tax credit expired in May, and the first two contracts we had on the property fell through because the buyers couldn’t get their financing. […]

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