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House #34: First Contract

July 8, 2012

Despite the fact that I can’t actually sell it for another 10 weeks or so, The Mirror House is now under contract… A landlord friend of mine really wants the house, and is happy to wait the 90 days after my purchase (this was one of the short sale restrictions) to actually buy it. I’ll […]

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House #35 / 36: Officially Ours

July 6, 2012

We closed on the purchase of both The Rookie House and The WI-1 House today… It looks like The Rookie House is going to be a very, very thin deal — it’s unlikely we’ll make our minimum profit target, and I’ll probably be happy if we make even $5000 on this deal. Just based on […]

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House #36: Preliminary Budget

July 3, 2012

We’ll be closing on The WI-1 House in the next few days. While you wouldn’t expect it by looking at the pictures (I’ll post them soon), this is going to be one of our largest rehabs to date. Between foundation repairs, finishing a basement, major electrical plumbing and a full cosmetic rehab, we expect the […]

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House #35: Preliminary Budget

June 30, 2012

We’re getting ready to close on The Rookie House this week. We have a three month deed restriction (we can’t resell for 3 months), so there is no real hurry to finish the rehab, but we’ll be starting as soon as we close. The house is currently torn down to the studs, so it will […]

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House #36: The WI-1 House

June 27, 2012

We just finalized the contract on our first project in Milwaukee, Wisconsin (hence the name)… I’ve mentioned a couple times that we’ve been working with an investment team from Arizona to scout out other markets, and we’ve decided to take a closer look at Milwaukee, starting with this first house. It’s been quite the debacle […]

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House #31: Final Analysis

June 22, 2012

The Puzzle House has been sold, and from a pure profit perspective, this has been our most profitable project to date (see all numbers below)… This was a big renovation that we almost backed out of several times; ultimately, our GC and structural engineer convinced us that the structural issues (and other issues) in this […]

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House #31: Budget Recap

June 18, 2012

We are getting ready to close on the sale of The Puzzle House this week, and I’ve finally received all the final invoices and receipts from this rehab to determine where we stand on budget (see final numbers broken-down below). This project was a bit different than most of our others, in that we used […]

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Direct Marketing #2

June 16, 2012

Now that we have our first direct marketing campaign behind us (which looks like it may result in a deal for a rental property that we’re passing to an investor-friend who does a lot of buy-and-hold), we’ve been doing a lot of brain-storming and planning for our future marketing strategies… While I don’t want to […]

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House #33: First Contract

June 13, 2012

I mentioned the other day that we expected a contract to come over on The H2O House, and we received it today… It was full price (though we basically made up a price since we hadn’t actually thought about it beforehand) and it was from another NACA buyer, which we love. This is the same […]

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House #35: The Rookie House

June 12, 2012

We just got house #35 under contract, and this is another house that was affected by the 2009 flooding here in Atlanta. It’s in the same neighborhood — and the exact same floor-plan — as The Flood House, and like The Flood House when we bought it, this one is currently torn down to the […]

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