Dec 2011 Update
Well, I got a little off track with the blog, or maybe A LOT off track — it’s been over year since the last one! This past year has been a good one, so in the blog entry I’ll update you on all that’s happened…
At the time of the last entry, we had just purchased a rock cottage in Olmos Park Terrace through an estate sale. After the closing we were contacted by some buyers who wanted to fix up the house themselves for their personal residence. Although I was really excited to remodel this house, we decided that it made the best business sense to make the sale. Here is a photo of the rock cottage – it’s a pretty cool looking house with a lot of potential!
We had also been remodeling three properties to put up for sale. The houses were located in Alamo Heights, Mahncke Park, and Windcrest. We were pleased to say that we have sold all three and that the buyers were happy with their purchases. Below is a before and after picture of the Alamo Heights house and of the Mahncke Park house. You can see more pictures and read more about them on my portfolio page:
Another investment avenue we pursued this year was wholesaling. This is the practice of purchasing distressed properties with the intent to resell them quickly for a small profit, without doing any repairs. We generally do not wholesale properties, but some good opportunities came up that we did not have time to work on, so it was our best option. Wholesaling sounds great, but it is very difficult – however, that’s a topic for a later date. Below are two photos of houses we wholesaled (they are a bit rough)!
In addition to selling the houses mentioned above, we also purchased three more properties to invest in: two in Alamo Heights, and one in Terrell Hills. The remodeling we are planning on doing for these projects is quite extensive. In the next update I will tell you all about them. Thanks for reading!
President, Hausman Homebuyers