Weeks 11 and 12 Accomplishment

Another hectic two weeks and I was unable to post last week.  This is my update for weeks 11 and 12.

My Holdings
We are almost finished with the Bathroom Hole house – we are just waiting on the carpet, counter top refinishing, and some landscaping where the pool was filled in.  It should be finished next week.  So far, I have spent about $59k on the house and should end up in the low $60s.  My value estimate was about $117k but comps were all over the place.  The bank required appraisal came in at $162k.  I signed with a listing agent at the end of week 12 and we are going to list it at $149,900.  Initially, I will not put in appliances and will give a $2,000 allowance for appliances of the buyer’s choice.  After the carpet is installed and the counter tops finished I will post pics and another video.

Landlord Duties
At the time of my last post I had 5 vacant properties.  I now have tenants for four of them.

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EON house pictures and numbers

It took almost 6 months to close on this house.  I finally closed on December 29th but the house is now on hold while my crew finishes up on the Bathroom Hole House.  We should start work in early February.

I have taken pictures of the house and completed the repair list.  Here is a breakdown of the repair list:

Replace Stolen AC Units $6,500.00
Plumbing   $1,000.00
Flooring-Carpet,Linoluem,Laminate  $4,000.00
Paint – Interior and Outside Trim  $2,500.00
Landscaping  $200.00
Drywall work  $300.00
General Repairs  $2,300.00
Total   $16,800.00

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