I just got word back from the seller agent. I am now under contract on my first property. To keep the theme of some of my favorite bloggers, I shall call this house the Tree Times house. I’ll explain in a minute. The purchase price is 84k. Repairs are projected at 7k. ARV for fast sale 135k. Projected profit assuming 180 day hold is 13k.

Repairs as follows.
New carpet. New kitchen counter top. New kitchen hardware. Put missing wall back between main floor bedrooms. Clean up landscaping. Redo downstairs bathroom and shower. Replace one window in basement. Paint interior and clean exterior brick. Clean and stage.

Since I will be learning a ton as I go, I will try and share as much as I can.

The house name comes from the fact that it took 3 times to get this property. First it was a short sale, then reo. Both rejected. Works for me. Tree times comes from an old Navy buddy from the Virgin Islands. In boot camp whenever he was dropped to do push ups and would have to count them out loud. One…two…Tree.. “What? Start over recruit” One…two…tree. “There are no damn Trees in the Navy, start over.” As hard has my buddy tried his accent prevented him from saying three. It was pretty funny watching him try harder at saying three then the effort of doing push ups. All the RDCs (recruit division commanders) knew this and just loved to make him count out loud. Heck even he thought it was funny. From then on his nick name become Tree Times. This is the Tree Times house.

Here are some photos

I leave you with this quote, “There are two educations. One should teach us how to make a living and the other how to live.” John Adams