So, what have we been doing lately with our business? We heard you asking this. Here’s a little update. The important thing to see from all this is that we have multiple strategies, and multiple income streams to keep our businesses going.
Looking and Evaluating
One thing we’ve been up to is looking at a lot of houses to work on or wholesale. There are a couple in the works that we look forward to showing you once we get going on them. It’s so hard not to share until you actually own a property! We’ve been getting some pretty good leads from out advertising, and Carol is unearthing some nuggets from the MLS. And of course, there’s word of mouth—hint, hint.
Also, the Lakeland house is being booked every weekend (even twice over the Thanksgiving holiday), and so far only ONE renter has been less than stellar. Don’t try to hide things you broke at your holiday rental, folks. And if you have kids that are not potty trained, bring plastic.
We refinanced the other rental, the Blue Ridge house, so now it’s making cash flow.
Individual Work, Mangum Equity
Another thing is that we have some other projects going on individually. There’s a new roof on one of Carol and Russell’s rental properties, for example. Carol also has sold a property in her retail estate business. Remember she’s always available if you have a house ready for the retail market, as well!
Individual Work, Hermits’ Rest Enterprises
We mentioned that Lee and Sue Ann bought a group of properties in the small town where they spend much of their time. We got started renovating those properties last week, starting from the easiest one. Here are some photos of the exterior work in progress.
This house needs to have some broken windows replaced (sadly, since the historical and interesting windows are no longer made), a new paint job outside and in, all new floors (good ole laminate), and “freshening” of the kitchen and bathrooms.
We also need to trim a tree that’s trying to attack the really nice metal roof. We’re not going to try to straighten the front porch. The house moved. It didn’t. But it will get a new coat of red paint.
That should turn this house from a rather unpleasant dwelling to a nice place to rent either as a house or an office. The warehouse behind the new office house is already rented to the contractor who’s working on all these houses. He does great work, so we are looking forward to the results.
Next in this series is that the office bedroom hardwood floors get refinished, and the hole in the kitchen ceiling gets repaired. We are hoping the new HVAC can go in by summer. But, it’s one thing at a time!
Look very soon for a very exciting post about everyone’s favorite delayed project, the Bobcat House!