For some reason, the Meadow Arbor 1 house in San Antonio didn’t get all that many nibbles, even with a price change. So, we decided to go back to our original buy and hold strategy and try to rent it out, some time in the middle of last month.
After a bit of a lull, interest in the house picked up, and as of this week, we have found a renter who met all of our requirements, and have a signed lease.
The income will be helpful over the next year or two, and we have hopes that we will be able to sell it for a good profit in a year or two.
We are moving right along with Meadow Arbor 2, despite a lack of photos and the fact that Frank the project manager had a construction accident and had to have the tip of a finger re-attached. Yow! The team Frank found to do the renovation are fast workers, which we always appreciate. Too bad they will probably go back to commercial work after this job.
The exterior has been painted in the blues that Carol picked, and of course all bad wood has been replaced. It certainly looks 100% more interesting than it did before, especially the snazzy garage door! And the interiors are no longer many bright colors, which is a relief to the eye. We’ll have more interior pictures soon.
We were just about to start pre-marketing that house as a rental, when our real estate person in San Antonio, Alba, got wind of a family who is interested in buying the house as an owner finance. Hmm! We’ll see how that works out! Good work on both the rental and the potential buyer, Alba!
(The picture originals are sort of small, but you can get the idea, at least. Thanks to Frank and his subcontractor for taking the time to get us some photos!)