Here is a picture of the duplex we are working on wholesaling.  The property is slowly growing on me and it’s a bit more turnkey then I originally thought, the interior does not need that many repairs, mostly just the roof.

The duplex has a 2/1 unit and a 1/1 unit with a big detached two car garage.  Total rent for the units should be $1,500ish a month.  If I had a better source of long-term financing I would more seriously consider keeping the property long-term.

Oddly enough it seems like a large portion of the properties we are buying end up being corner lots.  I really would prefer not to buy them at all, if we could.  In the past we have had bad luck with break-ins on corner lots.

Things have been really busy and the hard work has really paid off.  We have put houses #22, #23, #24 and #25 under contract.

I have delayed posting them because I don’t have good pictures of any of them yet.

Sorry this post isn’t very organizing it is a quite update of everything we have going on and it sure is a lot.

House #22 is in a decent blue collar neighborhood in an expanding area.  It has a big lot, almost 20,000 sq ft.  We are planning on keeping this as a rental.

House #23 is in a great area, we have been working on wholesaling it because it does not need a very big remodel job.  It sounds like the deal is a little bit tight to wholesale, so we are going to do a quick rehab on it and put it back on the market.  We won’t make a ton of money, but it is in a great neighborhood.

House #24 is a house we have been working on getting for a long time.  It is not in a great city, but it was built in 1990 and we got it cheap.  The house is in a gated association (only offers a gate) and comes with a $75/mo fee.  All that being said, the price was absolutely right so we chased it hard.  It needs very minor rehab, carpet paint and bathroom upgrades.

House #25 is a duplex we just put under contract.  We are hopefully going to wholesale this one.  It has a 2/1 unit and a 1/1 unit.  It does need about a $20,000 rehab.  If we cannot wholesale it, we will do the remodel job (a basic one) and rent the 1/1 and and market it to FHA owner-occupant.  They could get in and pretty much have the 1/1 tenant pay 75% of their mortgage.  It is zoned for a duplex and the lot is relatively big at over 10,000 sq ft.

We are also getting ready to start renting more properties.

House #15 has been on the market for just over a week now, we have it on the market, but we cannot accept FHA offers. Once we are at about 80 days I will lower the price a little bit and start accepting FHA offers.

House #17 the rehab is all but done.  We had an issue with the kitchen cabinets, and the fixed ones go in Monday and Monday afternoon the cleaning crew comes in.

Now you know why I have been so busy…