Real Estate Update: Weeks Two & Three

This month is flying by!  I can’t believe it is half way over.  I guess time flies when you are having fun, or was that when you’re stressed out?!  I’ve been both over the past couple of weeks, but that is to be expected when you have a project of this size going on.  Week two was a little slow in the progress department despite my good intentions.  Week three has been much better. Continue reading

Making My Last Rental Payment; Ever?

Yesterday I wrote out a check for what will likely be the last rental payment for at least the next 12-24 months. Saying it is the last one I will ever write is a bit of a stretch, but it’s a nice thought. Some people are ok with writing out that check each month, but I have to say that for me it is the one expense I loathe the most. Continue reading

The Adventure Begins

After closing on my first real estate investment last week I’ve been busy preparing for the rehab and getting basic services like electric, water, garbage, etc. and had some minor electrical work done to the house.  Speaking of electrical work while I was in the attic doing a closer inspection of the insulation needs I noticed that there was a lot of debris in various areas of the attic floor.  Apparently some type of furry rodent had at one time made this space his/her home (I’m thinking a racoon).  I’ve decided to remove all of the existing insulation from the attic as it is really in no condition to remain. Continue reading

Running The Numbers On My First Real Estate Investment

Now that the house is officially mine I guess it’s time to share with you guys the financial details and how I plan on making this investment work.  Before I begin I want to take a moment and recognize why real estate makes for a poor investment.  Obviously I think the house will make a good investment or I would have never liquidated my stock portfolio and made an offer on a house that need a lot of work.  However, it would be foolish of me not to consider the reasons that could reduce the likelihood of making money off my purchase.  This is a useful exercise and one I try to utilize in all aspects of my life. Continue reading