All righty now…… Friday was a good day.
- Closed escrow on my Shasta flip – Hit the sales price projections on the penny.
- Accepted offer on Brant – Good buyer 40% down.
- Constructions is moving along on Pennsylvania
Well thank goodness we closed Shasta to get a little $$$$ in the kitty. It ended up being a really nice projcet and will be a great home for someone. I have some videos of my initial inspection and construction bids that I will post on here one day.
Pennsylvania – Were hauling ass on this one (demo and framing always goes quick though). I really spent a lot of time on the front end planning on this one and am pretty sure it will pay off. I created some really good workflows and templates for future projects. Key is to have good scope of work, schedule & contracts.
I found a great free program to help with the project management portion of the project. We used to use MS project which is an expensive program and a little to much for smaller residential projects. The new online software I am using allows me & my contract to update the schedule as I go (the schedule with start & end times are part of his contract). I also give it to the investors so they can see what is happening.
In addition I set up a inTRAnet site where all the important documents, task, calendars, and most recent event are uploaded. I used www.googlesites.com for the sites and modified it. Great tool to use to communicate with people.
I also got interviewed by a reporter at MSN about the new FHA rules allowing flips that are held less than 90 days. This will be good for us since our average purchase to having the property in escrow is 52 days. This will open up our pool of buyers.
If you have any comments or suggestions let me know.
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