Finally listed!

Flipper is finally listed.  Looks fantastic!  Here is the listing with some great pictures of the property:
http://www.remax.com/property/108472628-60440123/1322-CHERRY-ST-Pottstown-PA-19464/

Bought all of the materials for the 2nd place yesterday morning.  Work has already started and because it's a townhouse there is not much to do on the exterior (we needed to fix a drain pipe - already done - and the patio might need to be relaid because it slopes too much toward the house.  Doing a minor kitchen remodel (new counter top,  new floor, maybe new appliances, but keeping the cabinets).  Need a few interior doors, but the exterior ones are already fixed and/or replace.  New furnace and AC, of course (that seems to be one of our trademarks - and helps the resell value tremendously!).

Not much news on the rentals this month - definitely a good thing! - have received rents for 5.5 out of the 6 units that are occupied.  Expecting the 2nd half of that last one on Friday this week (keep fingers crossed!).  Need to get new tenants into the place that ended up being evicted, but really happy to be rid of the old ones.  Almost giving up hope of ever seeing any of the money we are owed on that one.  The place is clean already and we may move the stove from the new flipper to this apartment, but otherwise it is good to go.  Hubby is confident it will be occupied by August 1st.  It does feel good to have the rental situation a litter calmer, at least for now.

First Flipper Goes On Sale on Monday

I've been neglecting the blog lately - too much going on! - I will try to do better.

The first property hubby has renovated goes on the market on Monday. Quite a transformation (will try to upload pics tomorrow after it is fully cleaned).  A lot more work that he originally anticipated, but we should still get a nice profit and certainly have the satisfaction of seeing the transformation before our very eyes!

Hubby has started work (well not personally, but the general contractor has started) on the new townhouse. Finally closed on that property a week ago.  Working with the HUD was a major pain in the neck. We ended up closely a full two months after the original date, and the REALLY stupid part was that the listing indicated that they wanted to close in like 10 days!  This property seems like it will require less.  Contractor has already replaced the front door, fixed the  sliding glass doors, removed a section of drywall that had mold behind it, and fixed the plumbing (the copper was stripped).  We are deciding how much of a kitchen reno to do, and have to do the paint and carpet (as always!).  Also need to replace the furnace and AC.  Looking for a nice profit out of this one.

On the rental front, hubby reported that rent for 4.5 out of 7 properties is received for July!  Planning to pick up one more payment tomorrow, and the second half from someone next Friday.  FINALLY evicted the tenants who were months and months behind on the rent.  That is now empty and clean.  Hubby is confident he can have it rented by August 1st.

Wallpaper and wheel chair ramp

Hubby has been learning this week how hard a renovation can be. He has been removing wall paper all week and is finding it both frustrating and satisfying.  They work 4 days per week.  Hubby works 5 hours and the  contractor/handyman is supposed to work 10 hours.  Next week, because of the holiday, they will work Tues-Fri instead of Mon-Thurs.  I am really excited to see the place.  He managed to get the kitchen cost down to about $1300 (cabinets and countertops).  Still need floor and appliances (and paint, of course, but that is relatively cheap).  Closing on 2nd house is now scheduled for next Friday and can't come a moment too soon.  Now that the weather is changing, you are overcome by the mold smell when you walk in there.  Son still helping out whenever he can.

Tenant issues are not going so well.   These guys are real con-men!  Hubby wants to cut a deal with the guy we are trying to evict to just him out of there without the whole court thing.  He is giving them a break on the court finding and keeping the deposit and then the guy asks to stay until June 15th!  Apparently 5 months of free rent is not enough!  Meanwhile the unit on the payment plan sent him a real nasty text message because they were offended about something he said while collecting the rent last week.  With anyone else, they would have been out on the street.  Some people just feel entitled to everything. Drives me crazy!

Reno continues/court case update

Hubby is trying to get the tenants out of the house as fast as he can.  Even offered to forgive a month of rent just to get rid of them.  No idea what they are going to do. Strongly suspect they are going to drag it out as long as possible.  At least the judge agreed to revise the judgement to include May's rent, and Hubby is going to file for possession as soon as possible.

Reno work is continuing.  I saw the new kitchen design today and it looks really really nice. The whole project will take only about $2000 in materials (not counting paint and flooring).  That's not really too back for cabinet/countertops/backsplash.  Still debating the design a little.  I like shelves instead of upper cabinets.  I think it will look better and be more modern and versatile.  Hubby is having to referee the debate between me and the handyman. Usually we agree, but hubby still insists on asking both of us!  Son says the attic looks fantastic now that an old "Beaver board" ceiling has been removed and the place is cleaned up!  One room down, 8 to go - lol!