This week in review – Week #81

This week has been quite trying. Lots of disappointment all around concerning the properties (And this will be one of the most pessimistic blog posts on here). First in the week – The bank (The┬áthird┬ábank now that I’ve approached for loans) turned us down on refinance of a few of the properties. The loan officer’s statement to me was that …

catoncar

This week in review – Week #80

This represents the 80th week that our company has been in operation. Rehab #12 is finally wrapping up, we are now nearly 2 weeks over schedule. This is solely due to the fact that the electrical system was in significnatly worse shape than was originally estimated. We are not going to be SEVERELY over budget, but will be over budget …

2015-01-09 09.59.46 (Medium)

This week in review – Week #79

Normally winter is an extremely hard time of year to find tenants but this one has gone pretty quick. This will put us to 13 of 17 units being occupied. Hopefully in the next week property #5 will have the water mains fixed and we’ll be able to tenant the property quickly. It will take us up to 15 of 17 units occupied, which means the banks SHOULD be happy with our performance :)

10974434_898434433510399_2176029396053534098_o

A tiny little house (#12)

This property is nearing the end of rehabilition. This was the first property we’ve purchased that has had copper theft/plumbing theft while negotiating. THANKFULLY we had a pre-close property inspection which led us to discover that the plumbing and electrical service had been severely damaged from theft. We were able to negotiate a $2,750 reduction in list price to cover the damaged material.

Our biggest one yet (#11)

This property is pending rehab. Purchased quite recently, it is in queue behind property #5 that has broken water lines and #12 which required less work. We are hoping to start on this monster property by February 2015.