Wednesday, June 2, 2010

A New Project!

Well, after the last flip flop (ha!), I thought our house flipping days might be over.  We put our heart and souls into the Gem Street house, only to lose our shirts.  The market tanked, we put too much into the renovation, aaaand....we just got greedy and arrogant.  It was a painful lesson.

Here's a link to the last flip we did:  Gem Street House

Just when we came to the realization that we simply are not US without a project, a new house fell into our laps.  It almost seemed too good to be true.  After many sleepless nights, a couple of thorough spreadsheets, and tons of prayer...we decided to call it a gift from God instead of another opportunity for disaster.

We're so excited about this new project - talk about room for improvement!  It's in a nice part of town, it's definitely the ugly duckling in the neighborhood, and comparable sales show plenty of margin for us to work with.  Also, it's structurally solid with a new roof - the needed improvements are plentiful, but they're all cosmetic.

Stay tuned for "Before" photos.

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