The Silver House

May 10, 2011

Yes, it’s a very boring name…The Silver House is being used only because this is House #25 (turns out it wasn’t!), and 25th anniversaries are normally referred to as the “Silver Anniversary”… A better name for this house would have been “Brian’s Mom’s House”, but unfortunately that name is just too long for me to […]

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House #21: More Leaks

May 7, 2011

Turns out that the name The Leak House was very appropriate for House #21… We originally called it that due to the leak in the roof that had caused a bunch of sheetrock damage and had likely scared away lots of other buyers. But, it turns out that wasn’t the only leak that this house […]

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House #23: Appraisals

May 5, 2011

Our buyer’s lender has had two appraisals on The Horsey House, and I’m thrilled to report that both came in above the contract price…so it appears that the last major hurdle for this transaction has been cleared! I always pull comps before the appraisals, so that I can give a few to the appraiser to […]

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House #24: The Wrong House

May 3, 2011

We have verbal acceptance on our next house — House #24 — and we expect to have it formally under contract in the next day or so. It’s actually pretty amusing how we ended up with this house… It’s on a small street of about 10 houses that we drive past all the time. The […]

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Lessons Learned On House #1

May 1, 2011

Now that we’re finally closed on The Corn House (House #1), I took some time and put together a list of the Top 10 mistakes we made and lessons learned on this first investment of ours. Top 10 Lessons Learned on House #1 If you have any of your own lessons to add (or have […]

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House #1: Final Analysis

April 29, 2011

We closed on The Corn House yesterday… For those following this blog since the beginning, you may recall that this was the very first house we purchased, more than two-and-a-half years ago. Back when we were originally considering this property as our first investment, my wife and I said to each other, “The goal is […]

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House #21: We Own It

April 28, 2011

After about 4 months of waiting for the seller (the bank) to come up with a valid deed, it looks like we will finally be closing on The Leak House today… After we’ve been absolutely patient and undemanding for four months, now that the seller is ready to close, they are frantically putting pressure on […]

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Update for 4/26/11

April 26, 2011

Nothing too terribly exciting going on…just a bunch of little stuff. So, here’s a quick update on each of the properties we currently are working on… House #1: The Corn House The Corn House is scheduled to close towards the end of this week. Appraisals and inspections are complete, approvals are in, the loan is […]

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With REOs, Buyer Beware!

April 22, 2011

I had a bad (and almost VERY EXPENSIVE) experience with an REO purchase I was working on this week, and I thought I would share it with my readers to hopefully help you guys and gals avoid any similar experiences in your investing careers. I’ve turned it into a “sticky” article for future readers to […]

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House #18: Tenant Leaving

April 20, 2011

We have had a tenant in The Haggle House since November, and she has requested that she be allowed to cut her lease short…we are going to let her… Without mincing words, the tenant has been a pain in the butt the entire time she has been in the house; it started with her complaining […]

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