4br 2ba 2000sf in great area

4br 2ba 2000sf in great area

Guess the terms –

  • 4 bedrooms
  • 2 bathrooms
  • 2 car attached garage
  • 4+ car detached garage
  • 2000 square feet
  • full, partially finished basement
  • bomb shelter
  • $150k-$300k neighborhood
Motel?

Motel?

Will be interesting if I can get it….

 

 

Welcome to InvestmentJoy.com

If you’ve ever wondered what it’s like to buy foreclosed houses, renovate them and make money, then you’ve found the right place.

We are an active real estate investment company in Central Ohio. On this page as well as our youtube  channel and instagram, we hope to share a side of investments that is rarely seen, with all the gory details that many websites, blogs and forums leave out.

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Here’s my 48th rental!

Here’s my 48th rental!

So, if you’ve wanted to see what one of my post-rehab , sub $30k houses here in Central Ohio looks like inside, here it is!

3br, 1.5 bath, partial basement, 1100 square feet built in the early 50s. Not terrible shape when I bought it, did some cleaning up, counter tops and whatnot and it’s done!

2017-03-10 14.30.28 2017-03-10 14.30.12 2017-03-10 14.30.04 2017-03-10 14.28.30 2017-03-10 14.28.12

2017-03-10 14.27.44

 

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Blog from the car #1

Well, we are at the start of another week. The past few weeks I’ve been pretty good overall. Hopefully we will stop burning through cash reserves at the pace that we have the past couple months. We went over around $10,000 on the rehab on property #12 and likely will go a little over on property #13 thankfully, the business has been very strong. I’ve had a couple tenants come back late on my rent.

Last week we received new Capital from a brand new investor partner. I am really excited about the future with this investor as well as the infected will have on our existing business. Operations likely will only be able to slip two more properties through the end of the year. This is because the bank still difficult to work with. They are requesting two to three years of seasoning on our existing properties.

We are about through the year now and so far imagined. I had hoped by the halfway mark we would be up to 30 properties instead, we’re still at 18 units, the same number that we were at during March. With the offer I put in today and the extra property I am viewing tonight if we were able to purchase then they would take us up to a total of 14 properties consisting of 21 units total almost halfway to our 2015 goal. Our 2015 end year goal is 50 total units.

Cash flow from these new units looks to be very similar to where we are at now, the duplex will be quite interesting though. They are asking $50k for it with a total of $935 and income. This is a little low compared to the current houses however we may be able to get the rent up. Interestingly enough one of the tenants in there has been living for a 37 year exclamation.

I would like to raise the rent on this tenant a little bit so we can get closer to the $1100 mark. Locally this is a very fair amount. I am seeing more and more two-bedroom units rent out for $600 to $700 dollars a month. This is significantly higher than our average two bedroom unit which sits right around $500 per month. It means that when we have to replace tennants I expect a sizable increase in the amount of rent we collect. I am NOT one to raise rent significantly existing tenants.

If this, I do believe that by September we are looking at 35. I am looking at a quad plex as well