The rental property is about to hit the market and we are expecting enough of a payout to duplicate our investment. This will be enough to recoup our savings and get out short term investment strategy back on its feet. At the rate we are going we will still make cash but it hasn’t come easy. The goodwill of getting the place back in 2015 so my sister and her furkids could have a home only goes so far; the property needed some work that we have gladly put behind us. It was worth the hassle though because my sister got transferred to Florida and moved to Tampa (mid April 2018) right in front of house selling and buying season. I can’t get mad at the daily taunts from their backyard in ground pool.
Moving on up!
I’ve been painting trim, doors, and walls to refresh the place in top of the changes to light fixtures and floors. I’m still worried about the smoke detector change but that is an easy DIY for the next person. It’s up to the inspection findings beyond this point. Adding a missing banister to the deck and railing, and doing some outdoor pressure washing means I will have my hands full for a few weeks. If all goes well it will list on May 17th, a full two years after we started searching for Château Enginerd and about 2.75 years from when we made an offer on this property. This was by far one of the best investments we ever made for both our family and our short term goals, even with the last minute surprises. We’ll see how we manage to continue to reap rewards from this journey. Zach’s needs his Field of Dreams!
The greatest challenge of this mini flip is that we never got around to updating the kitchen. To compensate for the 2005 look and feel of the interior, W keeps wanting to add simple inexpensive details to feel better about the sale while I keep insisting on doing stuff that isn’t required but would have been nice if someone did it for us. We are both torn because we are driven by the need to leave it better than we found it. To be honest the place only needs a countertop update to be perfect for modern people who are too lazy, budget constrained or pretentious. Hopefully buyers come from a place where they can update the kitchen and/or see its true potential.
Stay tuned for more updates!