From the category archives:

Houses

House #4: Rehab. Offer?

November 11, 2008

The Yellow Stain House has been on the market for three days now. The foundation has been repaired, as has been the main water line from the meter to the house (there was a rupture that would have cost as much to fix as to replace the whole thing). As the house is still in […]

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House #3: Exterior Complete

November 10, 2008

We’re already a little behind schedule on The Second Chance House, but we’re making steady progress. Inside, all the rough plumbing, HVAC, and electrical is complete, along with all the new framing that needed to completed for the floorplan redesign. Last week, we pass all rough inspections and our framing inspection, and this week we’ll […]

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Real Estate License!

November 8, 2008

My wife got her real estate license last week! It took about 150 hours of study, a crash refresher course, and then two exams, but she did it, and with flying colors (whatever that means). In Georgia (and probably everywhere else), having your real estate license doesn’t mean anything until you find a real estate […]

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House #4: Rehab Update

November 5, 2008

We closed on The Yellow Stain House this past Monday. In the past three days, we’ve accomplished a good bit: – The foundation work was completed…while a good bit of the yard was dug up during the repair (they put anchors both against the interior foundation wall and outside the house), by the time they […]

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House #4: Finally Mine

November 4, 2008

Good News: I finally closed on The Yellow Stain House today! While closing on this house is a good thing, it’s a reminder that things don’t always work out the way you plan, especially in this business. I’ve been learning that lesson repeatedly over the past couple weeks. Here are some of the roadblocks and […]

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House #4: Final Plan

November 3, 2008

I mentioned recently that The Yellow Stain House is quickly becoming the bane of my existence…and in just the past few days, things have only gotten more annoying… I most recenly had decided to go the tradtional loan route, with the expectation that I’d likely rent this property for a year or two while working […]

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House #4: Rental Analysis

October 31, 2008

Because we’re seriously considering holding The Yellow Stain House as a long-term rental, I put together a full financial analysis for renting this property to give us an idea of how lucrative this approach would be. Of course, I did a preliminary analysis a long time ago indicating that the property would work as a […]

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House #4: Loans & Partners

October 30, 2008

Because I decided to change my exit strategy on The Yellow Stain House, I realized that the typical loan program that I generally use won’t suffice for this project. The rehab loans that I typically get are 12-month loans that — while sufficient for a rehab and resale of a property — are insufficient if […]

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House #4: New Plan

October 29, 2008

As I mentioned yesterday, The Yellow Stain House is currently in a flood plain, and I have no idea how that will affect resale value and future insurance premiums. I do have enough information to know that the problem is probably not too bad, but it will likely take several weeks to get a land […]

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House #4: Flood Plain!?

October 28, 2008

The Yellow Stain House is quickly becoming the bane of my existence… Okay, it’s not THAT bad, but it’s causing more frustration than I care to have in a house that I don’t yet own. First, there was the foundation issue. Then, there was the major plumbing issues. Now, just 24 hours before I’m supposed […]

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