November 2013

We spent the day looking around at the prices on different milton homes for sale in the current market conditions. The idea is that we want to figure out if we can make the sort of profit we are hoping from the house we started to renovate about a year and a half ago. We bought it out of foreclosure before that and spent a good bit of time planning the operation and getting started. First we needed to sell the previous house that we had done the same thing with and so we could not really proceed without getting out of that process. It was not that difficult to sell the house, but of course we had to negotiate and we would have liked to have come out a bit more ahead than we actually did. In this case it will be easy to turn a nice profit. We quite simply got the house at a fire sale type of discount.

In truth the house was not in as rough a shape as you might have thought from looking at it. It was not well maintained and it looked a frightful mess, but I knew that nothing was wrong with the place that could not be remedied with a certain amount of cash and a certain amount of physical exertion. Of course the big thing is to be wise in keeping track of what you expend in both of those areas. You only have so much time and you have to make it worth both the money and the effort. We actually like the place now. I built a really nice storage building out back and I am guessing that it will do the trick of helping me sell the place too. It makes it a lot more attractive.