All Forum Posts by: Account Closed

I almost forgot to update this post! The house is finished and is now listed for sale. Now the only hurdle left is getting it sold before Winter. Wish me luck!

Check out the virtual tour here: 121 Briarberry Ln Virtual Tour

And here is the listing: Zillow Link

@Nick Harrington

That is vinyl soffit. It was on the house, but you can get it at Lowe's or Home Depot. They actually used a combination of triple vented and solid. Below is a link to them at Lowes. You have to buy the 12' pieces and cut them to whatever your soffit overhang requires. You also have to buy the J-channel and F-channel to hang it. I hope that helps!

Lowe's link to triple vented soffit

Lowe's link to solid soffit

Hey @Pat S. I hate I missed you, but I didn't make it to the CREIA meeting tonight. I hope things are going well for you. I hope your transition to NC has gone well!

@Uriah D.

I'm hoping the DOM will be 60 days or less. It is most likely going to be a second home, but is located in a spot that will work well for a local as well. I feel like if I don't get it sold by the end of October I will have to sit on it until Spring. Hopefully that won't happen, but it was a consideration when I bought it, so I have planned for a long hold if necessary. 

Here is an update on this flip. It is just about to finish up and hopefully be on the market within 2 weeks. The project is going very nicely, and I am under budget so far. As long as nothing surprising pops up towards the end, we should be under budget.

New Deck:

Floors sanded down:

Basement freshly painted and carpeted:

Master bedroom in basement

And just a pic I snapped one morning from the from the deck. It was foggy in the valley, so it almost looks like an ocean. It is truly a beautiful location!

I forgot to update this thread. The house is SOLD! After the initial contract fell through, it quickly went under contact again, and this one was a success. The appraisal came in low at $78k, so I had to let it go for that. Here are the rough numbers:

Purchase: $41,000

Acquisition/holding costs: $3,000

Rehab cost: ~$16,300

Holding/closing costs/commissions: ~$7,900

So, the profit was around $10,000. Not great, but not a loss either. I can live with it since I didn't have to do the labor, but I'd like to get a better return on my money. On to the next one!

I would recommend getting a termite inspection and getting some quotes for the repair. As long as you aren't surprised by anything you can plan and offer accordingly.

I'm not sure about the rest of the country, but in the South, it is a very good and low cost way of getting into real estate investing. There are several ways to invest in mobiles. You can buy/fix/resell, hold as rental, lease option or you can even buy entire parks. My first investment was a mobile home I fixed up and held as a rental. That was over 20 years ago and I still have it...and its the most profitable property I own! If you keep them as rentals, you may be dealing with a lower quality tenant, so be sure you are prepared for that.

Welcome to BP Lindy. What part of NC are you moving to?

Quick Update:

We got the house under contract after being listed for only 6 days, but unfortunately the buyer's loan fell through. So, we are now relisted and hoping to get it sold soon. I am tossing around the idea of making it a "BRRRR" because its a good house in a good area. I'll leave it listed for another month or so and see what happens.