Check out these photos from our rehab in Cary, NC. (Almost done!)
Currently under the weather. A little activity, but more recouping than anything else. The whole Box Bend gang (with one or two exceptions) is down for the count.
We hope to be back at it soon. Stay tuned.
Our day-to-day, public-face, "normal" site: www.boxbend -has been updated with photographs of both State Street and Carolina Drive properties.
The showings are slowing down with the onset of the winter season and the recent cold snap here in the Triangle. However, we continue our marketing with numerous tactics including standard MLS listings, as well as Postlets, signage and other forms of getting the word out.
We also have an additional three or four homes waiting in the wings for us to move, as we are currently finishing Ridgepath in Cary. This willl either be our first Box Bend rental property, existing under the umbrella of Box Bend, or we will flip it if the numbers look good. Again, this is a home that we picked up because of Ego instead of for all the right reasons. We can make the numbers work, but ego equates into more time, which equals a lower return.
We have also closed on our 72 acre farmland which we are now at liberty to discuss in greater detail, but will reserve instead for inside Box Bend Crew members.
If you would like to join us and become an inside Box Bend Crew member, please email us and let us know: firstname.lastname@example.org
We will sign you up.
Angier One will go on the market tomorrow. This is the first property we purchased in Angier. It is located on Carolina Drive and will be listed at $121,500. Stay tuned.
A new day and a new deal (after throwing the previous catch back into the pond). This is a little different for us -lower return and a longer gestation period. "So why do it," one may ask?
We were approached on a loan basis from someone we know. We are not a bank and know that the individual has some farmland on the edge of a nearby town.
So we proposed buying the farmland with a seller buy-back option within eight months. If he buys it back, we receive a roughly 10-13% return. If he does not buy it back we have the opportunity to make a far greater return.
In the process we help someone out, and get an okay return (with the possibility of a stellar return) in the process. The deal is not done, and anything can happen, but we are optimistic that we are in the path of growth with an asset at 50 to 60 percent of current value.
The hidden value not reflected in current value, is the adjacent lift station (next to the property) and the need for multi-family housing in the area.
We see this as a longer term play with a solid asset, or a short term good deed with a fair return.
Less than 24 hours after doing the deal on the rock service road, we find out there is a dump site on the deed. We will be throwing this fish back into the pond.
We have received a couple of submission forms from our website.
Lo and behold this certain individual contacted us three days ago with a little property just south of Raleigh and today we bagged a signed contract from the individual.
We now have 6 properties on deck and have sold & closed on two more (Bessie and Windbyrne) within the past few days.
This new property gets high props from our realtor -which has us excited.
Stay tuned to see what happens -we purchase/close on the 21st of this month.
In other news, we are getting together a portfolio of before and after photos. This "dossier" will be available on this site soon, and possibly our John Q Public site (boxbend .com
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