All Forum Posts by: Rich Schroeder

my SFH's are fully occupied. I do, however have relatives with MF properties and the vacancy is 10% and climbing. The first time home buyer is hurting MF's and people moving in with each other.

-Rich

I think it's great. It will even out the money funneling that happens with organizations such as ACORN and the unions.

Absolutely right! I'd rather give the dems a super majority back. They are all honest and are not hypocrites at all.

Scott Walker for Wisconsin Gov. He wants to turn down the federal money for our "high speed" train because of the massive subsidies required to sustain the program.

Honestly Sam, I really don't know. I worked every Saturday, then periodically during the week for a few hours at a time. Some Sundays. My contractor spent about a week out there by himself.

No loan, so the carrying costs were very low.

Thanks everyone!

the property was an REO. Asking price was $54k. I low balled with $35k hoping to get it around $42k or so. They accepted the first offer. The rehab took a little over 3 months.

-Rich

Dave, I did all the work myself (with the help of a $15/hour contractor/friend) except for a section of the roof. I spent $1350 on the roof which was an unexpected cost.

here are the numbers...

purchase 35k
rehab 16k
asking price 99.6k
hopeful sell price 95k
sorry about the small pics, not sure how to fix that/ Been on the MLS for 5 days and have had 7 showings already.

before:
http://www.biggerpockets.com/user_photos/0007/7979/S5300032_thumb.JPG?1265993735
http://www.biggerpockets.com/user_photos/0007/7983/S5300033_thumb.JPG?1265993754
http://www.biggerpockets.com/user_photos/0007/7987/S5300041_thumb.JPG?1265993771

after
http://www.biggerpockets.com/user_photos/0007/7975/11_thumb.bmp?1265993708
http://www.biggerpockets.com/user_photos/0007/7971/10_thumb.bmp?1265993698
http://www.biggerpockets.com/user_photos/0007/7959/7_thumb.bmp?1265993659
http://www.biggerpockets.com/user_photos/0007/7963/8_thumb.bmp?1265993678
http://www.biggerpockets.com/user_photos/0007/7943/3_thumb.bmp?1265993613
http://www.biggerpockets.com/user_photos/0007/7951/5_thumb.bmp?1265993638

be careful with that rented garage. make sure it's legal.

seems like a decent deal, assuming it needs no work.