At the start of August we bought this 7 unit building. It came with 3 of the units rented out, 2 of the units being vacated by a previous tenant, and 2 units filled with stuff from previous tenants. Fun. How do you eat an Elephant? One bite at a …
This summer we were not going to rehab any houses. We even planned to not buy anything for the next 24 months to allow our balance sheet and cash position to strengthen. We did have a couple situational exceptions for this and this house was one of those exceptions. In …
Last month I closed on a 7 unit, 7,000 square foot commercial building for $36,100. That’s right. I paid less than half what 2 bedroom 1 bath houses in rough shape are selling for in the same neighborhood. This is $5,157 per unit. If I subtract my expected value of …
In August of 2022 it looked like there would be no more great deals on houses in our area. The housing market had been tightening for the last year and homes that sold for $30,000 2 years ago were now selling for $80,000. The numbers just didn’t work. I still …