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House #11: Final Analysis

October 16, 2009

We closed on the sale of The Sunglasses House today! As you might recall, this house has been under contract since renovation began; my project manager (who is my brother) and his fiancee decided they wanted to buy the house, and spent the better part of the past three months customizing the house for their […]

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House #11: Almost Gone

October 13, 2009

As I mentioned a couple weeks back, my buyer for The Sunglasses House got screwed on his financing (his broker made a mistake), and they had to start the process over with a different lender and a different underwriting strategy. This time, the broker seemed a good bit more careful, and it looks like we’re […]

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MH #2: Sold

October 12, 2009

It looks like we’re about to sell our second mobile home. If you recall, we purchased this one last week from a desperate seller for about $1600, and will be putting in about $80 to fix a railing on the back deck (the park is requiring this fix). We will be selling this one for […]

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Where Are The Houses?

October 10, 2009

It’s been a pretty slow couple months in the business…with the baby being born, waiting to close on several houses that were under contract, and focusing on a couple future business ideas that we’re developing, we haven’t really been looking for new rehab projects. We have been working on The Poor House for two weeks […]

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House #12: Appraisal Woes

October 7, 2009

The Mini House been under contract for a while, but because of the FHA 90-Day Rule, we weren’t able to move forward with the financing and underwriting until about two weeks ago. Unfortunately, in that time, we’ve gotten some bad news… The first appraisal on the property came back at about $30K below the purchase […]

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House #13: Rehab Pictures

October 5, 2009

We’re about a week and a half into the rehab on The Poor House, and while things are going a bit slower than I had expected, I’m very pleased with the work. We brought in our GC from The Sunglasses House to do the bulk of the exterior and basement work, and so far, things […]

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House #11: Final Pictures

October 4, 2009

The rehab on The Sunglasses House finished a few weeks ago, and we finally had our house cleaner in there this week to get it ready for the new buyers. The rehab was a tremendous success; after spending over $65K on renovations, we completely remodeled both the interior and the exterior of the house. On […]

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House #6: Final Analysis

October 2, 2009

As of a couple hours ago, The Red Garage House is officially sold! This was a long and sometimes frustrating project, mostly from the perspective of trying to sell it. In all, we had dozens of interested buyers, six formal offers, three contracts, and of the six months it was for sale, it was actually […]

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MH #2: Negotiating Fun

October 1, 2009

I have now officially set up a business with two partners to buy and sell mobile homes (MH); our goal is to continue to do deals similar to the one we did a couple weeks ago…hopefully we can do at least a few per month… Along those lines, one of my partners came across a […]

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House #13: Day 1 Rehab

September 29, 2009

As I mentioned earlier, The Poor House just started renovations. On the first day of rehab, we had a few trees removed, the roof came off, all the moldy drywall was removed from the basement, and the waterproofing company came in to tear up the concrete around the entire house and install a gravity drain. […]

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