Got to busy to write!!!

Well, it sure has been a long time since I have posted anything, but a lot has happened and it has kept me busy. First off my father's house, we will call it the 161 house, has been fully turned over to me from the trust and it was a disaster. The entire back siding needed replacing and hidden within the walls was nothing but dry rot and black mold!! It honestly brought a tear to my eyes to see that my aunt who was in charge of the place did nothing with it. So 6k later I have new siding on it and everything fixed with a new back door. I recommend to never buy the door from home depot, they are junk!! wish I listened to my contractor on that one, but the good news is my first experience with a contractor and he was awesome!!!

My first contractor was fairly priced and constantly kept me updated with pictures of the progress at the end of each day since he knew I lived 2 1/2 hours away. Then once he gets all the work done I kindly ask him if the siding needed to be painted to confirm what I remember from the bid and he told me yes, which was the deal, he asked if I needed to paint and I kindly declined because I couldn't afford it, so he offered to let me use his spray painter!!! Way above and beyond, so if you need a contractor in El Dorado County please let me know! He is a carpenter by trade but has the hook ups with every subcontractor you need and he will coordinate it for you.

So now I have collected two months worth of rent and have gotten to know the family really well and they are helping me and being super patient. Really a lovely family so I feel like I am getting really lucky with my first experience in real estate. So I still have a long list of things to be done at the 161 property that includes

-new deck 

- new roof

- new front door

- new retaining walls (yes multiple) 

So I decided that in my personal brokerage account all proceeds after taking 25% for taxes would be funding these repairs as well as the rent check after the mortgage and insurance. So I am hoping to see my $200 profit by 2018. The nice part is over the past few years I have become very good with options in the stock market and in about a month and a half have the $5,500 for the deck.

The good news with the house is I am refinancing into a 30 year fixed with SoFi and have had a great experience so far and the house appraised at $320,000 with only $110,000 mortgage, so I am going to do a HELOC for capital for future deals.

We had issues with the Indiana turnkey company but luckily the gentleman that has been mentoring me and answering all my questions runs north peak investments and his partner as well as he is helping me accomplish not only my 40 door goal but as well as discussing other options to help me get there!

I have decided I am just going to hire out the website build because I just cannot figure it out, guess that's what I get for having a blue collar country upbringing, technology illiterate but can build that new deck and re-roof my house without help so it has its benefits too.

P.S. I just reread this and I feel like I am patting myself on the back a lot here, I want to say is that I have no clue what I am doing and am constantly researching and getting advice from the forums as well as my two mentors. I post the numbers purely as help with other people so the will know what costs are in the Placerville, Ca market. Once everything is done with that house I plan on posting a profile of all repairs and costs with pictures of the 161 property.