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It has been two weeks since I closed on the Williams house. Below is the work that has been completed.

Roof: $7,150
Plumbing: $4,250
Clean Out: $700
Materials and Supplies: $624.91
Property Insurance: $338
Commission: $500

Total: $13,562.91

The purchase price plus closing costs was $25,849.50, and I paid the bank a $20 wiring fee. I have now invested $39,432.41 in this house.

The house has a new roof, and the stolen plumbing has been repaired. I’ve also had the contents of the house and yard removed (cleanout). I paid my manager $500 for overseeing the closing. In addition, I purchased over $600 in materials and supplies for my handyman’s use. The handyman is paid a salary and works on other projects for me, so I am not including his cost.

What’s Next

The next step is to get a new HVAC unit and bid for the kitchen restoration. The entire kitchen is gone; no cabinets, sinks, counters, etc.


Update: The renovation is back on track.


  • Real Estate Adventurer

    Don has been a real estate investor for over 15 years. He has accumulated over 70 rental properties and completed many house flips. Don currently owns a property management company and acts as a hard money lender. He writes on real estate investment, often divulging financial details, with a direct, no-nonsense style. In addition, Don is a software consultant and an accomplished software developer with a Master's degree in Computer Science.