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House #21: The Leak House

January 8, 2011

We have verbal acceptance from the seller on House #21, and expect to have it officially under contract in the next day or two… This house is about 100 yards from The Lake House, in the same subdivision, and is very similar in style, age and condition. Our rehab and resale strategy will be very […]

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House #19: Appraisal Issues

January 5, 2011

Our record with getting our houses to appraise has been tremendous over the past couple years. Not only are we careful when we buy, but we make sure the final product is the best in its price range, we work closely with the appraisers to make sure they have the information they need, etc. Unfortunately, […]

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House #20: First Contract

January 3, 2011

I mentioned yesterday that we had received our first offer on The Lake House…but that there was a good bit of distance between the buyer’s offer and the minimum sale price we would accept… As I mentioned, we decided that we’d go back to the buyer with a take-it-or-leave-it counter-offer at our minimum acceptable terms, […]

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House #20: First Offer

January 2, 2011

We received our first off on The Lake House today, despite the fact that we haven’t yet finished the staging and haven’t even listed it for sale. Unfortunately, the situation is more annoying than anything else… An agent called us yesterday asking about the availability of The Flood House. We told her it was already […]

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House #19: Inspections

December 28, 2010

The buyer for The Flood House completed her inspection last week, and we received a copy of the Inspection Report yesterday… As suspected, the inspector found a few minor issues (9 to be exact) and nothing major. The nine issues consisted of a couple contractor mistakes (hot/cold water lines reversed on two faucets, tub drain […]

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Update for 12/27/10

December 27, 2010

Things have been pretty busy personally (we’re getting ready to have our second baby in a couple weeks), so I haven’t had a lot of time to update the blog, but I wanted to give a general update on the four properties we are currently holding… House #1: The Corn House It’s been almost two […]

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House #19: First Contract

December 20, 2010

I mentioned the other day that we received our first offer on The Flood House…as of this morning, we’ve come to full agreement with the Buyer and the house is officially under contract… The agent representing the buyer actually did a decent job of trying to negotiate on behalf of her client, but we knew […]

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House #19: First Offer

December 18, 2010

We received our first offer on The Flood House this morning… The house has been on the market for about two weeks, and given that it’s holiday time and the weather is tremendously cold, I’ve been surprised that we’ve gotten any traffic through the house before Christmas. We’ve had a few showings up until today, […]

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House #20: Budget Recap

December 13, 2010

We finished the rehab on The Lake House today… (will post AFTER pictures in my next post) If you recall, our preliminary budget on this project was $12,500, with the first estimate broken down here… Luckily, there were no major surprises, and we were able to stay on budget, coming in at just over $12,200. […]

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House #20: Week 2 Pics

December 9, 2010

Renovations on The Lake House are a few days from completion, and so far, there haven’t been any major surprises… So far this week, we finished the interior painting, hanging the light fixtures, painting the cabinets, painting and rehanging the doors, etc. On Friday, we will replace the carpet and vinyl on the second level, […]

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