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House #20: Week 1 Update

December 4, 2010

We closed on the purchase of The Lake House last week, and rehab is well underway… In the first few days, we had our termite company come in and treat for any active termite infestation, did a lot of exterior repairs of rotted and termite-destroyed wood and then painted the entire exterior of the property. […]

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House #19: Staging Pictures

November 30, 2010

As I mentioned the other day, The Flood House is renovated, staged and on the market for sale… Unfortunately, my wife has been away for the past week, so my sister-in-law and I were responsible for the staging ourselves (with my wife directing us over the phone :)). While the staging turned out great, unfortunately […]

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House #20: Purchased

November 29, 2010

We closed on the purchase of The Lake House today… As I mentioned last week, our budget on this small rehab is about $12,500, which should cover some major exterior repairs (from wood rot and termite damage) as well as a basic interior remodel — including new paint, carpet, appliances, light fixtures, plumbing fixtures and […]

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House #19: Budget Recap

November 26, 2010

As of yesterday (Thursday), The Flood House rehab is complete, after just 5 weeks (1 week ahead of schedule)… If you recall, our original budget goal for this rehab was $34,500. Given this was the first rehab we were attempting on a house that had major flood damage, I was a bit concerned that there […]

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FHA 90 Day Rule – Reminder

November 24, 2010

I was reading the forums over at BiggerPockets.com this evening, and one of the posters over there brought up a topic that I hadn’t really thought about in several months — the FHA 90 Day Flip Rule Waiver expires on January 10, 2011… Given that I’ve sold several houses now in under 90 days using […]

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House #19: Week 5 Update

November 22, 2010

Tuesday marks the end of week five on The Flood House renovations, and things are going well (see original schedule here)… Last Wednesday, we had our final inspection by the city, and passed without any issues. The only remaining task to receive our Certificate of Occupancy is to pass our final mold test, which is […]

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House #20: Preliminary Budget

November 19, 2010

We’re hoping to close on The Lake House the week after Thanksgiving… Here’s the preliminary budget that I’ve put together: The goal is to keep this one below $12,500, which seems reasonable assuming there are no surprises. Unfortunately, it’s these small rehabs that tend to have the most surprises, and even small overages can blow […]

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House #19: Week 4 Update

November 16, 2010

Today marks the end of week 4 on our rehab of The Flood House, and everything is still on-schedule and mostly on-budget… This past week, we completed all the exterior repairs, including replacing some rotted/damaged window trim, removing a dead tree in the front yard, repairing some minor roof damage and some general landscaping. On […]

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House #20: The Lake House

November 12, 2010

We just put our 20th house under (verbal) contract. We’re calling it The Lake House — not because it’s situated on a real lake, but because there’s a small lake within the subdivision and we just can’t think of a more creative name for the house… 🙂 Here are some pictures. The house is about […]

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House #19: Week 3 Pictures

November 10, 2010

We are at the end of week three for The Flood House rehab, and I’m happy to report that we’re still on-schedule and still ahead of budget… This week we completed the drywall installation, hung the doors, installed the baseboards, replaced a bunch of windows, painted the interior and made some repairs to the exterior […]

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