Archive for the 'Uncategorized' Category

Modular Real Estate

Thursday, March 22nd, 2007

I am adding 4 more modular homes to my real estate investment portfolio.

A/C Thief Caught!

Wednesday, January 17th, 2007

I got a call today from the Police that the person who stole my A/C unit has been apprehended! He is going to be order to pay restitution so there is a chance I will get my money back, although as a dead beat I might now. Who knows, but I am glad [...]

3 More Homes Under Construction

Saturday, January 13th, 2007

Well I have closed on 3 more construction to perm loans and contracted to have 3 more homes built. The homes are being ordered and the lots are being prepared. I learned from some mistakes on the first home (I hope to put a page together of the mistakes I made and the [...]

First Home Leased!

Friday, December 15th, 2006

Well I leased the first home, and I am excited!
I was able to obtain a tenant on a Lease with Option to buy. They made a non refundable deposit of $3,000 that I will apply as down payment if they are able to purchase the home within 12 months. If they are not [...]

Interested People

Thursday, November 30th, 2006

I have shown the home to a lot of people. The market in my area is pretty bad right now, there is a record amount of home inventory for sale. I am pretty happy I built modular homes because they are affordable. I have shown the home 4 or 5 times now [...]

First Home Finished

Wednesday, November 22nd, 2006

My first home is finished! It has been a real learning experience. After some hiccups during construction we are finally complete. I am going to advertise a Lease Option on this home to generate interest instead of listing with a real estate agent immediately. I have a very competitive rental price and i [...]

Modification of My Construction Loan

Monday, November 20th, 2006

Well I have my C/O so now I can modify my construction loan. I did a construction to perm loan, so now that the construction part is done its time to turn it into the perm loan.
I am going with a 5 year Fixed Rate mortgage, so it will go adjustable after [...]

Waiting for my first Certificate of Occupancy

Thursday, November 16th, 2006

Well after replacing the stolen A/C unit my cost of the project went up a few thousand dollars. I am not real happy about it, but it is one of the risks. I could have filed it on my insurance, but I would rather not. In the long run I feel like [...]

Air conditioning Stolen!

Sunday, November 12th, 2006

Ok, so one of my homes had its air conditioning units stolen! I got a call today that one of the A/C units has been stolen and its going to cost me around $2,000.00 to replace. The police came out and fingerprinted and took statements. They said there were a number of [...]

Construction Update on First Home

Thursday, November 9th, 2006

Its been a week since the home was delivered and things are coming along nicely. The A/C has been installed, the plumbing is all in, and the inside of the home is finished. There was some drywall that had to be patched after shipping, and a good bit of crown molding and baseboard [...]