So there is quite a bit of news. Beginning with two closing that happened almost two weeks ago.
The Piano House is SOLD and I mean money in the bank sold. So that transaction is done. Then I closed on the purchase of The Alaska House. The new contractor I hired for this project is moving really really fast! I think we’re defiantly on track for finishing that one up by the fall.My agent is already bringing some clients though tomorrow.
I also have another property under contract. Its a nice little house in Lexington. I bought it for $306,000. After I bought it another guy apparently told the owners he would pay $360,000 for the house and even went to the extra step of making a written back-up offer! So if we go off contract for literally a split second then this sale will fall though. If it doesn’t fall though however I think I’ll make 40k without doing any work at all!
Here’s a picture of the new property. Which I’ve decided to name The Drum House. Since when we arrived to look at the house the owner tenant had left a drum set out on the front porch!
In terms of my renovation plan if I can’t wholesale this one I’d probably do a cosmetic update and spend something in the 50k range. Then go for a re-sale for around $450,000. Pretty simple rehab if I need to do it.
That’s it for now.
