I’m trying to get caught up on taking and posting pictures, so I’m going to do two houses at once with this post…
We closed on the purchase of House #30 (The Easy House) a couple days ago. This one has a 90 day deed restriction, where we can’t resell it for more than 20% above the price we paid for it. Since rehab would only take a few days (it’s a small, easy to rehab house), we’ve decided that we’re just going to try to resell it to another investor for a small profit to avoid having to wait the 90 days.
The house would make a decent rental (so we’ll be marketing mostly to landlords) and would make a simple flip for a new investor who was happy to make a small profit on their first project (so we’ll target new rehabbers as well); who knows, maybe we’ll find someone who wants it as-is and get rid of it quickly for a small profit. In not, we’re happy to rehab it and sell it to a retail buyer — we should have no problem making $15K or so in profit, though like I said, we’d have to wait 90 days to sell it.
Here are some BEFORE pictures: The Easy House: Before Pics
We closed on the purchase of House #32 (The Unexpected House) a little over a week ago, and this one also has a 90 day resale restriction; this one can’t be resold at *any* price for 90 days, so we’ll be doing a slow rehab on this one over the next 6 weeks; it would only be a 2-week project if we rushed it, but we have a lot of other projects going on, so we’ll take our time.
Here are some BEFORE pictures: The Unexpected House: Before Pics
I think I still owe you guys some pictures of The Ticket House, which went on the market last week…I’ll do that in my next post…