May 31 2013 May 2013
Hi! and thanks for taking a look at our blog! 2012 Was a very slow year for us, we picked up some projects that took a lot more time and effort than anticipated. Although the projects were lengthy, a lot of valuable experience was gained and we were very pleased with the results. We sold a few of our houses right near the beginning of the year and the buyers we worked with were wonderful.
With some of our inventory completed and sold, 2013 has started off very quickly! We immediately began looking for new properties, preferably with shorter turnaround times. A friend contacted us about a property that was in distress and we were able to help the owner avoid foreclosure. Shortly after closing that deal, we were approached by another investor who had a client looking to sell a property she had inherited through an estate. There were quite a few heirs involved, so it took about 3 weeks for everybody to agree on the contract. Thankfully we were able to work out a deal that was beneficial to all parties involved. We have now sold both of those properties, please see our portfolio page to view them.
During this time, we have been looking at a lot of other properties, but in real estate investment, it is not possible to buy every property you look at. We are happy to say that we were able to make two other deals happen that we did not actually purchase. Both times the properties were not something we thought would work for us, but we contacted others investors and still helped the owners get their houses sold. One of these was a beautiful Spanish-style house in Alamo Heights. The project has tons of potential and we soon realized that we made a mistake by not purchasing it ourselves. This mistake will be the subject of an upcoming blog entry, so stay tuned!
President, Hausman Homebuyers