Various Updates

There are some various updates I had mentioned before and just wanted to give some status:

• 2 refinances:  1 is complete and the other is underway. We're looking at a large chunk of cash coming from this one to help buy future properties.  I probably won't bother posting about it other than this.  To keep some level of privacy, I won't say exactly how much, but it's enough to purchase 2-3 more properties at our current level alone.  Pretty exciting.
• Property #11 and #12: I posted about them in separate posts, so no need to mention them again.
• Property #13-#17/18:  Turned into just property #13.  We drove by the properties and noticed most of them had what looked like serious foundation issues (Huge cracks on multiple sides).  He is going to have a really hard time selling them for more than about half of what he wants.  As I've mentioned before, our model is more turnkey type investments.  We don't want anything more than carpet, locks, paint, etc, type stuff ($1k-$2k tops).  Dealing with any type of foundation work (even if we got a good enough deal) is just not in our interest right now.  One of the locations was an SFR that we are purchasing.  So instead of a possible 6, it's just 1 out of this lot.
• Downed Tree:  Again, pretty uneventful like we like it.  the neighbor offered to split the tree removal (even though he didn't have to), proving that good people are out there.  Cleanup and repair was only ~$500, so we dodged a bullet with that one.  We have insurance of course, but who wants to deal with that whole process?  If that tree would have fallen a few feet further to one side, we would have had a duplex (and not the good kind) :)
• Foundation Issue:  Still an open issue that I'll post more about later.  Still unsure if it's a big or little item.

I think that was it.  It's been a busy last few months and I'm glad it's winding down.  I prefer it when the majority of my time in real estate is spent looking for deals.

Property #12

So we recently went under contract on Property #12.  It's another turn key property in Memphis.  Having done 2 of these already the comfort level is there.  We went under contract and have completed inspection.  The appraisal cam back above what we offered so that's always good.

We closed recently on this property and they actually had found a renter BEFORE we closed.  So we're now at 12 properties with them ALL rented.  Still at 100% capacity which blows my mind. The first turnkey we bought they had it rented within ~30 days of closing.  The second one was rented within 3 days of closing.  The third one (this one) was rented prior to closing.  This turnkey thing just keeps looking better and better.

Sorry for the short post, but these turnkey properties just seem so uneventful.  Doesn't make for very interesting reading, but when your on the investing side, uneventful is a beautiful thing :)