I have not done as good blogging as I was hoping. May was a decent month for us, not great, but still chugging along in Southern California. Inventory is really messed up right now. People are fighting over very few properties and it doesn’t make for profitable deals.
1. We bought 2 houses in May. A third one was supposed to close, but we had HOA issues that have delayed things. We also where high bidder at an auction on a great retail flip property but the bank ended up rejecting our offer after two weeks of deliberation. This was a bit discouraging. The good news is we are close on 2 or 3 properties.
2. We rented one property in May. Now pretty much everything we have available is occupied.
Get to 20 rentals properties (not units)
We are at 18 rentals now. Our most recent escrow House #47 is going to make one of our better rentals. We are paying a little bit more for our typical rental but it’s really a Class A property (by our definition at least).
Make 36 Purchases (Rentals, Retail or Wholesale)
We have bought 16 properties so far in 2010. We are pretty much right on track with our goals and we are really searching hard to buy more properties.
New Goal: Make at least 10 Blog Posts per Month
Well, this goal I failed. I made a whopping 4 blog posts in May. Granted I got a bit of a late start. #1 focus is buying more properties and #2 is blog posts. So as long as I can open a couple escrows you should see a lot of blog posts!
How did you guys do in May?