From the category archives:

House #21 – SOLD

3-Year Recap!

August 12, 2011

This weekend marks three years since we purchased our very first rehab property, so I thought I would spend a bit of time recapping what we’ve accomplished in the first three years, along with some of the statistics and interesting tidbits of our journey. Here’s a quick recap of our accomplishments: 24 Houses Purchased & […]

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House #21: Final Analysis

July 22, 2011

We closed on the sale of The Leak House today… (see all the financial results below) This house was a good reminder about why we need to ensure that we don’t get lazy about doing inspections and due diligence before we purchase. While we don’t use inspectors anymore, we generally still inspect the property in […]

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House #21: Clear to Close

July 18, 2011

We’re a couple weeks past the original closing date on the sale of The Leak House, but we just received the clear to close from the lender, which means it should get to the closing table this week… The lender kept finding new things that they needed, and each turn-around of information was taking several […]

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House #18: Appraisal

July 15, 2011

We just got the results of the appraisal for The Haggle House, and the value came in above the purchase price (Sale Price: $95K, Appraised Value: $96K)… This was the last major hurdle for this property, and now the loan should go to underwriting. Assuming there are no issues that the underwriter finds (at least […]

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Update for 7/11/11

July 11, 2011

Just got back from vacation yesterday, and have been trying to catch up on work and life…but wanted to give a quick overview of where things stand with the houses… House #18: The Haggle House The Haggle House has been under contract for two weeks now, the buyer has completed their inspections, we’ve made (almost) […]

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House #21: Appraisal Came in Low

June 29, 2011

It doesn’t happen very often (especially these days), but the appraisal on The Leak House came in lower than the sale price… I can’t say I’m too surprised. We were under contract at full-price ($110,000), and I knew from the time we listed it for sale that the appraisal was unlikely to come in that […]

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House #21: Inspection

June 15, 2011

I’ve been on vacation, so it’s been about a week since I posted…sorry about that! The Leak House went under contract last week, and the buyers had their inspection over the weekend. As we hoped, the inspector didn’t find anything major, and the buyers only asked for several minor issues to be repaired. This includes […]

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House #21: First Contract

June 7, 2011

We received our first offer on The Leak House today…and we expect to have it officially under contract by Wednesday… The buyer is getting funding through NACA, which is a program we love, as it means the buyer has already gone through most of the underwriting steps necessary to approve a loan. NACA buyers are […]

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House #21: Budget Recap

May 23, 2011

As of last week, The Leak House rehab is complete and the property is on the market. It was a pretty straight-forward project — other than the burst pipe that we didn’t know about, the rest of the rehab went quickly and smoothly… If you recall, our original budget goal for this rehab was $20,000, […]

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House #21: On The Market

May 13, 2011

We completed the rehab on The Leak House yesterday, got it staged today, and it’s getting listed for sale this evening: Here are the final pictures — you’ll notice that many of them are just copies of the pictures of The Trifecta House — this is because the houses are the same layout, same finishes […]

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