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37 Replies

Originally posted by Jenkins Ramon:

I am writing you to let you know that I am a man of my word.
With that being said, I just wanted to thank the both of you
for your time, advice and direction regarding pursuing real estate.

It took me an unanticipated extra thirty days to schedule
the test due to other obligations. However, I took for the first time
and passed my Real Estate License exam yesterday.

Congratulations!!!

I'll hopefully be back in Milwaukee in the next week or two...perhaps we can grab lunch?

J Scott,

Thanks for updating everyone on the project and good luck. Doing a project that far from home has to be stressful but exciting.

I'm near Chicago and go to Milwaukee often. One piece of advice for you to get great deals from local contractors that has worked for me, is to start every conversation with "The Packers suck." Then tell them you are a Bears fan. Works every time.

Best Regards,

Don

Thanks Don! :-)

Quick update on this project, now that you mention it:

We passed all rough inspections this week, and assuming we pass insulation inspection tomorrow, we're on to sheetrock. Sheetrock and paint should take about two weeks, and then two more weeks for finish work (floors, cabinets, lights, plumbing, etc).

We hope to be complete by the first week in November...

I'll post some pics in the next couple days...

Originally posted by Pat Tompkins:
Following threads like this one is incredibly helpful for total noobs like me thanks to the detailed updates. Keep it up and thanks again!

Pat - if you want a whole lot more details on this project, it's house #36 on my blog. I have lots of pictures, architectural drawings, budgets, rehab updates, etc.

Originally posted by J Scott:

Pat - if you want a whole lot more details on this project, it's house #36 on my blog. I have lots of pictures, architectural drawings, budgets, rehab updates, etc.

Looks like I have a TON of posts to catch up on, I learn more from these kind of posts than any other, thanks for the heads up!

@Robert Adams - We're hoping to be finished and listed by the first week of November.

@Tracey Williams - We're about $12-14K over our $95K budget. Several things have contributed to this:

- Adding work to the scope
- Labor prices being a little higher than I had expected in that area
- Not being local to the property and having to rectify some issues by throwing money at them as opposed to handling them personally

Hopefully, we still have a decent profit margin in there... :)

Quick update:

Marty and I were up in Milwaukee last week for a brief trip. Sheetrock is now finished, finish trim is going in over the next few days and that interior paint starts later this week.

That leaves all the finishes (flooring, cabinets, countertops, lighting, plumbing fixtures, etc) for the following couple weeks. We're hoping to have it done by mid-November.

While we were up there, we met an agent who specializes in that neighborhood, and she thinks we should be able to sell it at the top of our anticipated price range; if so, we won't make a fortune, but it will be nice profit after a hard project.

Only risk is if winter comes really early, it might be a hard sell in November/December, and there's a chance we'll have to wait to sell until the Spring.

I have a couple videos...just need to figure out how to post them here... :)

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