We picked up a newbie today: Mr. Willow Spring. A metal box on an acre of land. We may wholesale this one, rehab and flip, or rent.

We don't wholesale typically, but we may make an exception here.

Unrelated; we closed on Ridgepath (the first "Box Bend Rental") today. What does this mean? We will rehab the property most of the way (as if to sell). We will then rent it for a year or two to lower our cost basis. After that... We will see. Our ultimate strategy includes some rentals, but not necessarily SFRs. So...

Stay tuned. We will see how we close on Mr. Willow Spring and how we rehab and rent Ridgepath.

We won another property in Angier. More details coming soon.

We have been on the road quite a little bit lately. So, the posts are fairly thin of late.

None-the-less, let's catch up on some recent events.

We put a bid in on a house in the same neighborhood as State street. For those that are new, this is the rapidly gentrify neighborhood near downtown. We were $9000 over the asking price and the sellers went in a different direction. That's code for "Too bad, so sad." You've got to know when to hold them, know when to fold them, know when to take your money and put it on another property because the offer you made was not picked or accepted. Sure, it's easy to feel like the fat kid in gym class not being picked to be on any team, but one must remember that being fat is not a sign of emotional or intellectual capacity (so buck up, Sparky!) And, remember that one can make another play on a team of one's own design. And that simply rocks! So, other than internal team pep talks, what have we been up to?

Well, we have our feelers out on two or three separate properties, we are looking at a couple of different auctions, and the due diligence is wrapping up on Bessie and Windbyrne.

***

By the way, if new to rehab, keep in mind that chances are very good that the buyer will have punch-list items for you. It's not all roses and long walks on the beach with the person of your dreams just because a purchase offer rolled across the transom. Heads up, newbie!

***

Finally, we are exploring a couple of linear expansion ideas. We will post about it here should we explore some of these new frontier ideas that we have.

Please stay tuned and a great day/night to all.

Our realtor went to a live auction on our behalf. This was exciting and involved the intrigue of going to the bank in the early morning (our bank's drive up window is open at 8 AM), getting a cashier's check for ten large, and then meeting our realtor in our office's parking lot to do the handoff.

We set a limit up front for our high bid based on estimated repair costs, commissions and profit. The skies were gray. Rain was plausible. We felt good. Anxious. Rumor had it that it would be lightly attended. The hammer was set to fall at 1:00

At 1:15 our agent messaged us: no dice. The auction was 30 grand over what we thought we could pay. So be it. We live to fight another day.

And fight we will.

Sunday post church has been spent on marketing: Craigslist, Facebook Ads, and Google Adwords. We are also starting a new direct mail campaign.

Since posting on Craiglist, we have seen a 100% increase in our unique visitors to our main site. This is in the last 6 hours.

We need to purchase three to four more homes in the next two or three months. So it isn't a matter of simply getting the word out, it is a matter of getting the word out to the right people. We will keep posting on this subject.

Stay tuned.

We have a signed offer on Windbyrne.  That did not take long at all, but closing will take a little bit of time due to the offer being an FHA loan.  We are looking at late November for closing on this property.  

In the interim, we plan on accepting backup offers -in the event that this one falls through.  Interest has been strong.  

Stay tuned.  

We are going to rent out this 4 bedroom property after we transform it from a house into a Box Bend home. For those of on the Box Bend inside crew list, you know that our long-term strategy includes a rental component.

Stay tuned.

We took a little bit of a bath on this one thanks to a 11th hour HVAC replacement.  However, we did take a positive return.  Not as much as we planned on in the beginning, but positive none-the-less.  Enough said.