Update on 229 Toledo Court

Well folks, had a great open house last week. Accepted an offer of $227k ($2k above asking) even though we had higher offers. Based decision on tight lending guidelines and the fact that the buyer had some cash to put down on the deal. Will keep you posted as things progress with inspection, appraisal and underwriting - always an adventure in this climate!

Toledo Court Finished

Finished product on 229 Toledo Court. On MLS yesterday and open house today from noon to 2pm. Been shown 5 times so far and one offer submitted for full asking price. This home is 3/2 1600+ sq ft with views over the city.

Bits and Pieces

Just some various updates on what we have been up to for past few months. I have taken on some new partners and we are looking to expand our territory into Fairfield and Vacaville in addition to growing our ability to offer seller financing to people who want to own but do not qualify for financing.

We are in the middle of our first such deal - 5/3 3000 sq ft house (odd for neighborhood as was originally about 1400 sq ft and they LEGALLY added a two storey addition.

We are purchasing this house for $159k and then seller finaning it "as is" to a couple for $220k at 7.5% with $25k down.

This couple run a home for autistic children and were paying $2500 per month for a smaller place in Fairfield. Their new payment on this house will be $1400 or so plus taxes and insurance!!

Napa Rehab

Here are some interior pics of our 3/2 house in Napa midway through renovation - about another two weeks to go.

Biggest challenge with this house is the 150' high Redwood tree that the City of Napa says has to be removed due to encroaching on street and preventing sufficient access to garage - will definitely have pics to show when doing that work.

Progess Report Toledo Court Vallejo

Here are some progress pictures of our 3/2 in Vallejo. We are about 2 weeks into the project and expect to be finished and back on the market in another week or so.

News and Latest Projects

229 Toledo Court

Obviously delighted at the waiving of the 90 day seasoning rule for FHA buyers - stay tuned to get clear on parameters on 25% net profit stipulation.


Check out our latest listing for sale on redfin.com- 371 Idora Avenue, Vallejo


Purchase $64K
Rehab: $25K
Listed: $119k

Also our newest house under contract (first pic above)- 229 Toledo Court - tri-level 1600 sq ft with views - for $130k with $35k rehab and planned relist of $225K

Currently dealing with two impending vacancies - one due to job loss, and the other a bit messy - one sister moved out, the other sister can't afford rent - sisters now not speaking and me in the middle - The joys of landlording!!

Latest Project and Plans for 2010

Just back from a great trip to Ireland for Christmas to see my family. Had a great time, although came back with the flu.

Have 3 finished rehab projects currently listed for sale on MLS and two being rehabbed with expected relisting time within the next 2-4 weeks.

Expect a few more accepted offers in the next few days and planning on looking at a bunch more houses at the end of this week once I have recovered from flu.

Pictures of most recent rehab here - 3/2 SFR purchased for $90k, $35k in rehab and approx $10k in resale costs. Partnership arrangment with prenogotiated split to each partner.

Looking forward to expanding into other Solano County markets this year and working on adding seller financing opportunities to homebuyers , so stay tuned!