The Finally House This house was the initial house that signaled the start of our acquisition spree as the expected yield finally exceeded our Cash on Cash Return target of 20%
Did it Again Relationships and leveraging Passive Investors via Self Directed IRA's proves to be a Win-Win for everyone.
Patience In Real Estate it takes two parties to complete a transaction and sometimes the Seller needs more time and sometimes they need a lot more time.
Deal of Year Being Creative and always looking for ways to make deals is how to create long term value.
Take What it Gives You Just because your missing a kitchen doesn't mean it is a bad deal. Also being known as a closer is a great thing in this business.
The Stucco House Just because the house has some usual and cosmetic issues doesn't mean you have a bad deal. In fact the less buyers like it the more we like it (Because we like to buy CHEAP and with no competition)
Got to Move FAST Sometimes you have to pay full price to secure an outstanding deal (I hate it, but I am glad we did)
Flop-Flip House Sometimes the best laid plans just don't workout. If something goes wrong in your plan for an investment, make a change and learn from it. We sure did!
Seeing-Double You never know where a deal might pop up. Keeping our eyes open bought us a Duplex at the cost of a single family home.
No Longer the Ugly House Some projects go on a little longer and cost a little more than you expected, but at the end of the project you'll still proud of what you delivered for the neighborhood and your tenants! It feels good to be done!
The Ugly House Almost any house or property can be a decent investment if you get it for a good price. Even a really ugly 2/1 that has code enforcement issues logged against it.
Before Pictures Ugly House Just thought I would share some additional pictures of the ugly house on the day of closing. What did you expect for 25K in a nice area?