Hi, DG family –
Decided after several months into this, my online journal was a little overdue. Started REI late-summer, but the closings timeline had some major interruptions. At the same time we started, my husband and I moved my elderly mom from her home near NYC, her house of almost 50 years, to be with us in Richmond, Virginia. Her situation was a huge “why” for jumping aboard REI. But mom didn’t weather the change. After getting her settled, she suffered a massive stroke and died a few weeks later. Her care unfortunately cost us both our jobs as licensed insurance agents, just before Christmas. We're still regrouping, but we’re pressing on toward the goals we first set (Phil 3:13-14). The Success Academy’s been great in keeping us focused.
After trying several realtors, we found some investor-friendly ones who’ve helped us navigate the jungle, get fresh listings and submit offers. Have networked in terrific local REI groups. This metro area has some real pro RE investors who are willing to share their time and expertise. To stay within our biz plan’s pricing limits, we’ve often been working with older, sometimes century-old houses. No shortage of those around here. There’s inventory in every age and price range, but comps show props under $150K move the fastest.
Today, I did eight walk-throughs, the youngest house being 51 years old. They were pretty interesting. Several props reeked from mold, others from squatters. One had a galley kitchen smaller than many bathrooms – the oven door hit the parallel wall’s cabinet when opened. Another had a caved-in ceiling that looked like a wrinkled sheet draped over the floor instead of drywall.
Today’s Most Memorable prize went to the house with 12 bullet holes visible from the curb. For a souvenir, saved the casing from one of the 22-caliber bullets that pierced through the master bedroom’s drywall and exterior siding, giving the wall a nice aeration. The direction of the holes showed the occupant was the shooter, not the shootee. As an added bonus, the neighbor kept a pit bull inside of a short, chain-link fence - as if that dog couldn’t jump it?!? Hope the mailman carries pepper spray
I’m the 4th generation of women RE investors in my family. Am probably the first to target wholesaling. Though my mom unfortunately left us before she got to see us build our business, she still inspires us to look at the possibilities with REI.
Thanks for all the encouragement and info you’ve given us over the months. It’s been such a blessing to watch students’ properties, and lives, be amazingly transformed.
The Eastlake Group, LLC