OfflineHi Everyone - well, this is my first post into my daily journal (that's the goal anyway!). I've had a crazy year, and finally decided to put my real estate background to good use and plan my future! I found DG by accident, bought the book after I had purchased 3 properties and have been playing "catch-up" ever since! I'm looking forward to a great 2009. Will post my (our) progress as the days pass - renovations are almost complete and we will be ready to put these properties back on the market for sale! Exciting!
__________________
Had our "laborers/helpers" cutting down the next door neighbors dead tree in the front yard over the weekend. This woman is in her late 70's, and doesn't have the money or the energy to keep up her yard, but it's vital for us to have it looking good when we get this property on the market. We are even putting up a block fence so we don't have to look at the burned out guest house in her backyard. So, today I ordered the new fiberglass columns for the front porch and we picked out our exterior paint scheme last Friday. The yard is ready for mulch and the kitchen cab installation will be completed today! Now is the fun part where it all comes together. Can't wait til we get the toilet installed so we can stop peeing in a bucket!! Seriously!! ugh! But that's the story when you are doing all the work yourself. Last Tuesday was miserable....we were at the house until 1:30 in the morning spraying texture and painting the interior because the tile installers were coming the next morning and we had to be ready. Oh my gosh - I wasn't too happy about that one! But I bucked up and did my share (and complained a little bit too!! LOL)
til next time!
Camille
wow! got great news today - looks like we are getting the other property on Palm. Bank came back with LESS than what we were going to offer originally. They didn't even go out to bid for renovation numbers. We are writing offer and sending in tomorrow - before it ever goes into the MLS. This will be a money-maker when we are done with the renovation! good timing and great connections!!
til next time!
Camille
The Agent working on this deal with us informed me today that she got a full price offer already on the house that I thought was already a "done deal"....never jump the gun, right?! Oh well, we'll see what happens on Thurdsay when all offers can go to the bank. If we don't get this one, there is an apartment complex across the street that is on the market that I'll check on.
Also had a fantastic Mentor phone conversation with the DG office today. Will start investigating Section 8 rules and regulations and see if it's something we want to do.
til next time!
Camille
Well, so much happened today! I got our business domain name and emails all buttoned up tonight - yippee! GoDaddy was easy and the customer service person I spoke to was fantastic. Now I'm waiting to hear if we are getting our 1-800 telephone number. Won't know until tomorrow - hope so!
Spoke with the city Housing department today to find out more about Section 8. Very interesting process - and I was amazed at how many Section 8 vouchers are out there in my city! Will keep investigating this option.
Found out the apartment complex is actually in Foreclosure under 2 different banks! I only want the whole complex (two 4-plexes) and they are listed for sale for $60,000 dollars difference from one unit compared to the other. The one bank is being very unreasonable in their list price, so we'll put in a low offer and see if they budge.
til next time!
Camille
Well, there were so many offers on the property I'm looking at that the bank took the listing off MLS today. In the time that my Realtor spoke with the listing agent and then called me back, another offer had come in $1500 higher than the offer I was trying to counter on!! It's crazy here....but, at $26 sq.ft. it's hard to keep those houses on the market very long. Also found out that the management company that works with the bank that owns this property is based in India! So everything (offers, etc.) have to go there and back!! unreal!
So I went in almost $6000 higher than we had initially anticipated, but if we were to get the house we are still $10,000 less than the final price of the house we bought down the street! So with $10,000 or a little more into the renovation on the new property we'll still be less than our first purchase on a cost basis!
I grabbed my 1-800 number today for the business! yeah! It was on backorder so we weren't certain that we were actually going to get it. So now I can get my logo done and get business cards made and get my website going. Got our domain name tied up yesterday also. It's been busy!
til next time!
Camille
We got the house!! That was the fastest turn-around answer we've gotten so far!! Overnight! Got this place for $26 square foot - $2 less than the one we purchased down the street. How can you beat that?
Now we're looking at the apartment complex on the street.....gotta figure that one out.
Have a great weekend everyone!
til next time!
Camille
Just got back from Phx....I spent 3 days driving around picking up sinks, cabinets, plumbing hardware, toilets, flooring, paint, tile mastic....geez, what else, too much to mention. Oh yeah - had the dogs with me the whole time! LOL At least they are nice about it at Home Depot!
Our first property is looking great! We've been trying to paint the exterior this week, but the wind has been a huge problem, so we'll be doing everything else.
Working on list price next...and open house.
til next time!
Camille
OK - it's been soooo windy we can't paint the exterior of the home we were going to have on the market this weekend! It snowed yesterday where I live (Northern AZ) and was 60 mile an hour winds down in Phoenix. So, we'll try and paint today if possible. The house will have to wait to go on the market next week.
Found a great 4 plex that just came back on the market that I want to look at.
Got not so great news from the Housing Department....I will have to find a partner to work with so that I can get a loan to work on the rehab areas for Sec. 8 that I want. Might be more complicated than I thought, but this is where the investor club will come in handy. I'm actually thinking about talking to my Realtor about it to see if he wants to get in on some deals.
til next time!
Camille
Stanley, our laborer has disappeared....with an extra day's pay and the new cell phone I just bought for him to use! The neighborhood laundrymat owner saw him Friday morning, but he never showed up for work and never called....so, we took all his belongings and put them out on the carport. Who knows where he is. Jim is disappointed in more than one way - no laborer, the guy he thought he was helping to "pull up from the drudges" didn't really want his help.
People are people and you can't want it more for them than they want it for themselves.
til next time!
Camille