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House #33: Preliminary Budget

May 21, 2012

We closed on the purchase of The H2O House today (pics coming soon)… This is another project where we’ll be working with our General Contractor on a “cost plus” basis — meaning he’ll supply all the labor and materials that we request, and he’ll pass the exact cost through to us, plus a set fee […]

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House #29: Budget Recap

May 18, 2012

The Ticket House is under contract to sell for the second time, and we’re hopeful that this one should close relatively close to on-schedule (end of May). The first appraisal for this one came in at the contract price, so that’s great news! The mortgage broker is hopeful that we won’t need a second appraisal, […]

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House #31: Two Offers / 1st Contract

May 17, 2012

We received two offers on The Puzzle House yesterday, and there may be a third one coming today… The first offer we received was great — full-price, NACA buyer, looking to close quickly. The second offer comes with a funny story… We had received a phone call from the buyer’s agent earlier in the day, […]

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House #32: Budget Recap

May 16, 2012

The Unexpected House has been under contract to sell for about 7 weeks now, and we’re just waiting for the 90 day deed restriction to expire so we can legally sell the property. Because we were able to get the house under contract before it went onto the market (we actually had three full-price offers […]

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Some New Tactics!

May 8, 2012

Over the past couple months, I’ve been finding it harder and harder to come across deals that are good enough to meet my standards for rehabbing/flipping. Apparently, I’m not alone. I’ve talked to lots of other investors across the country, and it appears that in many (most?) major markets, competition has increased tremendously, owner occupants […]

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House #31: On The Market / Pics

May 4, 2012

It took several weeks longer than expected, but The Puzzle House is finally on the market… I haven’t gotten all the final invoices for the renovation work, so I don’t know where we came in on our budget (it looks like we’re going to be about 2-4% over budget on this one), but the renovation […]

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House #33: The H2O House

April 30, 2012

It’s been way too long since we’ve purchased a new house, but we finally got one under contract — this is a property was made an offer on 4 months ago, didn’t get it, and then the agent came back to us last week to tell us it was back on the market. Well, the […]

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House #29: Second Contract

April 26, 2012

As I suspected might happen, The Ticket House buyers ended up not being able to get their financing and the contract fell through at the end of last week… We immediately put the property back on the market, dropped the price by $5000 (to the price where it was previously under contract) and reached out […]

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House #28: Final Analysis

April 20, 2012

It took more than a month longer than expected, but we finally got The Full House closed (see all financial results below)… A lot of things went wrong on the sale of this project — our private lender backed out the day before purchase closing, so we had to pay cash (resulting in lower ROI), […]

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Update for 4/19/2012

April 19, 2012

I’ve spent much of the past week trying to clean up this site after getting hacked. Nothing you likely would have noticed unless you did a Google search for something on the site, in which case you would have seen links and content for prescription medications instead of my real estate content! I couldn’t figure […]

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