General project updates

No great pictures to post, just some general updates:

1) The flip has not sold yet.  I spoke with my business partner (contractor) and we will be converting this to a rental.  I worked out a deal with my investors that returns money to them and they provide a loan to me to ‘buy’ the house.

2) The house that was hit by the van has now been repaired; total repair costs were more than what I spent to originally purchase and rehab the house (?!?!?).

3) The mildly crazy family that inhabited the house that was hit moved out in October.  While a bit of a pain, it has given me a chance to rehab their side, hopefully raise the rent and has allowed me to teach my brother some (hopefully) useful skills.  In addition, he and I are planning to start offering real estate management services to capture a part of the market currently occupied by my friends and co-students when they leave the area.  Also, while not knowing where I will end up in 18 months, I need a trustworthy manager for my properties.

4) I need to set some general real estate goals for 2015.  Maybe another property or two with a total of ten units under management by Jan 2016.