Its been a long time since I've posted! I've been enjoying retirement from REI for over a month now. I plan to take a break for another 5 months. This is in part to my wife's request to spend more time w/ family. Kinda of hard to argue that one, you know? Realistically, this hurts my financial goals , but I will try to make up for it w/ more excellent acquisitions later this year.
I plan to continue the blog, however, I may stop posting for several months. I'm not sure. I may get bored and want to post my ideas and document latest observations in the markets.
Anyway, I am posting the townhouse that I completed in early May. Check it out, I posted a before pic, I can't believe I forgot to take "after" pics. Overall, this was an awesome project, I bought subto from a motivated seller for 85k. The property is curently worth 130k. I spent about 6k in rehab. It looks excellent and will be a strong rental.
I just closed on a re-fi last week. It was pretty cool to re-fi after a month and half of ownership. My broker is awesome! I got a re-fi for 92k, which essentially made this a NO MONEY DOWN DEAL!
Cash flow is negative $75 a month. This ok with me since I have plenty of equity and will be benefiting from taxes, mortgage pay downs, future appreciation, and rental increases in the future.
If I could do 5 of these every year, would be in great shape in no time!