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Monday, November 26, 2012

Finding the Next Investment and 2012 Goals

Since the last house flipping project is now closed and in the books it's time to move on to next item on the goals list. I have been evaluating my goals for 2012 to see what is still left to be done and what's in store for 2013.

You might have noticed I have not been very active on the blog or on the site but that is because I am focusing on other goals and some work on the site instead of in the site. Not to mention dealing with several issues with my rental properties.

First off, with the sale of House #10 I have now achieved my two main goals for 2012. These goals were to flip two properties with an average $30k profit and to achieve a certain amount of income for the year. I am happy to say that we have done so two months before the year is over. Which only makes me wonder if I set my goal too low…

Monday, November 12, 2012

House #10 Final Financial Analysis...it's a good one!

Like I had mentioned in my last post House #10 is now sold. Here is the financial analysis so you can see how the numbers on this house flipping deal came together. This is a breakdown of all my costs and the profit from the sale as well as some performance numbers so you can see my returns on this investment.

I divide my analysis into 5 sections, the first four are all my cost categories and the last one is performance. The column on the right labeled "% of ARV" means what percentage of the after repair value (ARV) is attributed to each category. 

For example, the most important of the ARV numbers is the first one. It tells me that I bought this house for 53% of what I ended selling it for. This is important because for future purchases I know I should be buying properties around 50% of what I expect to sell them for.

Here are the actual numbers:

Friday, November 2, 2012

Celebrating a Milestone: House #10 is SOLD!

House #10 is sold as of last Friday and I wanted to celebrate with you where I am today. No, this is not about House #10 and how much money we made with this house flip, I will cover that in another post. This post on House #10 is more about having done, ten times over, something I did not think I could do. 

It's really about making significant progress in conquering fear, uncertainty and doubt - ten times over.