My first deal

Rehabbing, Fix and Flip, Rental Properties
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Thought I would post an update to the Duplex rehab. Sorry no pictures yet.

To recap we started with a 55K purchase price Cash (500 appraisal fee, wife is too

kind :banghead)

Now we are 11K into the rehab and one side is almost complete. Just have to refinish floors.

The other side has only had plumbing and electrical upgrades and we already paid for the kitchen

cabinets and countertops. I hope we can get the rest done with 5K.

I am deployed so have not seen the house in person the wifey is running the show. I used to

get detailed updates on whats going on and expenses but for the past few weeks… NOTHING!

Huge red flag for me I am pretty sure I will be literrally :banghead when I get home (shortly)

and see and figure all the numbers for myself.

The good news is that I know this place will gross net 2000-2400 monthly so there is some

cushion to justify the renovation costs.

I am thinking if both units rent quickly I will not do the Vynil siding until a few years down the line. Save that 5600 for a rainy day.

On a side note:

Furnished, I think I found someone in my immediate area that is following your business model

I just saw his ad on cl and he is def trying to attract short term renters with his fully furnished

units to include nice TV, internet, cable and leases from 30days to 6mths. He even goes into

how his apartments are better than the certain places most contractors stay in the area.

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WTSinvestor,
It would be interesting to email or talk to someone who does the furnished rentals like I do.

So far I have only talked to a couple out of Kansas City who rent furnished to mentally-challenged individuals and their agencies. They have a huge on-going and labor-intensive business. Very interesting and profitable business model, but not one I thhink I want to handle at this time.

Good luck on your investment duplex. Hope you give your wife some praise for all her hard work in your absence. Even if she makes mistakes. I make them all the time, myself. There is a learning curve in rehabbing.

Furnishedowner

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I just partnered with my member and bought a real good 3/2/2 in a subburb of Politician. It’s a foreclosure that needs small ($5,000) rehab. We are achievement to pay currency for it $54,000 and then take for $1200mth. So we apiece get $600mth! Now, go ask your boss if you can someone a $600 a month conjure and see what he says! I’m so intoxicated to be getting corroborate in to Concrete Estate after so extended. I joined the DG menage back in Sep '09 and there’s so many deals out there it is rediculous! I craved to buy another, using finance this period but my hubby said I can exclusive do 1 at a minute! I’m intellection around wholesaling but
{move but I cerebrate there are a lot of those deals out there also. I"M SO Prosperous!!!

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I crave to have a menage a trois on concrete and can do 1 a minute.
That’s what I got from that…

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This might be interesting…is it available in English?