From the category archives:

Houses

House #16: Appraisals

March 22, 2010

Despite having dealt with several dozen appraisals over the past year, it never ceases to amaze me when we get wacky appraisal results… We had two appraisals on The Probate House in the past two weeks, as expected. The buyer is getting an FHA loan and we’ve held the property for less than 90 days, […]

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House #15: Final Analysis

March 19, 2010

After closing on the sale of The Poor House two days ago, today we closed on the sale of The Neighbor House…you can see the detailed financial results below… This was supposed to be a quick wholesale deal to another investor (i.e., no rehab work on our part), but it ultimately took nearly two months. […]

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House #17: Officially Ours

March 17, 2010

We closed on the purchase of The Escher House today… Okay, we almost closed — as usual, the seller (the bank) hadn’t yet signed all the closing docs, so we’re waiting for that to get completed, at which point we will officially own the house…hopefully by Thursday morning… We’ve spent the past week getting bids […]

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House #13: Final Analysis

March 15, 2010

We closed on the sale of The Poor House today…you can see the detailed schedule and financial results below… For a large rehab, this project was pretty textbook; we completely replaced the exterior (new roof, gutters, siding, trim, soffit, fascia, decks, etc), remediated a good bit of mold, waterproofed the foundation, finished the basement, and […]

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House #17: Before Pictures

March 11, 2010

As promised, here are some before pictures of The Escher House: BEFORE PICTURES Unfortunately, I was in a rush to get these, and I don’t think they really capture the craziness of the layout. That said, while the layout is unorthodox, we actually think it’s appealing and will help sell the house once it’s been […]

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3 Appraisals, 1 Day

March 10, 2010

So much for taking off on a mini-vacation yesterday… Turns out that all three properties that we have under contract to sell had an appraisal yesterday, and two of them were last-minute, meaning we didn’t have much time to prepare and we had to stick around to meet with the appraisers… We knew the appraisal […]

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House #17: Inspection Results

March 5, 2010

We had our pre-purchase inspection of The Escher House yesterday, and it looks like we didn’t miss anything in terms of repairs or condition of the property… The biggest concern I had was a crack in one of the poured foundation walls, and since my inspector is also a structural engineer, I was confident that […]

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House #17: The Escher House

March 4, 2010

We just put House #17 under contract yesterday… It’s a bank-owned foreclosure right just about a mile from my personal residence. It’s a 22 year-old house, and to be honest, I have no idea how to describe the style. It’s a traditional, but also has some characteristics of a split level. Half of it sits […]

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House #13: Appraisal

March 2, 2010

The appraisal for The Poor House came back at our contract price, so assuming no financing surprises, it looks like we’ll be going to closing on this one in the next two weeks… That said, we almost didn’t get a high-enough appraisal, and it was all my fault. As I mentioned in my article last […]

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House #16: First Contract

February 28, 2010

We received our first offer on The Probate House over the weekend, and we negotiated a formal contract… I mentioned on Friday that we had two agents who had potential buyers, and one of those agents came through with an offer on Saturday. In fact, it turns out that the agent wasn’t representing a buyer […]

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