The last eight months have been a whirlwind. Between June 23 and September 8, we closed on 8 houses, some for our portfolio, some we partnered with other investors on and they did the work. Ideally, we would just buy everything for ourselves with no partners and do all the work and have tons of rentals, but #1, we don’t have that much money, and #2, we don’t have the time to renovate 4 houses at once, and since a lot of homeowners need help, our partners come through so we can help most of the people who call us. One project however, took up a ton of our time, so I wasn’t able to help many people the last few months, but is now finished so we are back to looking for houses to buy!
The Fourplex Project
This deal was a vacant property going through foreclosure, and the seller did not want the damage of a foreclosure on his credit report. We did not have much time though, since attorneys were already involved, and he would lose it if we did not close in 30 days. I worked with my title company, the lender, and the attorneys to get the payoff amount and the penalties covered, so the seller could get out in time. We got it under contract on 6/17 and we closed on 6/23. Our title company, Title2Land worked hard on this one, and we were able to prevent the negative impact on the seller’s credit score so he could continue to enjoy retirement.
Although I say we can’t renovate four houses at once, that is basically what this project was. We worked every day including weekends, usually 10-12 hour days for months to get it done. In the beginning, there was no power so we were working in the Baton Rouge, July heat. We baked in the sun as we began to transform the property. We started by fixing the roof to prevent any more damage, then we worked on getting permits, then fixed the AC and heat. We basically replaced everything on the interior. We completely gutted the kitchens, replaced all the vanities, removed all the carpet, put in all new fixtures, had the tubs refinished, replaced all the seals on the toilets or replaced the toilets, new sinks, countertops, flooring upstairs, cabinets, and more.
My business partner, Bryan, works a full time job at one of the plants and would come after work and every weekend to help get it done. He has the construction knowledge, and I did the labor.
Eventually we finished one unit, and I started sleeping there on an air mattress half of the week to help us get it done quicker. I loved the kitchen, and really didn’t want to move out when we finished the project. The units came out great, and we moved on the next day to our next project… Fortunately instead of 4,400 sf it is only 1,300, so it should only take a month or two.
What Are We Doing Now?
Now, we are finishing up the single family renovation and looking for our next project! If you or anyone you know is looking to sell your house fast in Baton Rouge, we are very interested. Although, we don’t always buy things that need a ton of work, we aren’t afraid of the scary ones either. We buy houses in Baton Rouge and the surrounding areas, call us today!