November Update by Brad Bone

December 21, 2018

Here is a quick breakdown of the current properties we are working on:

Winners Circle, Bakersfield, CA
This house was listed last weekend for $234,900. We ended up spending about $69,000 in the rehab.
This involved a major rehab including adding about 330 additional square feet of living space as well and
new cabinets, new AC system, new flooring, new interior and exterior paint, and a complete bathroom
and kitchen remodel.

Meadowood, Bakersfield, CA
This property was under contract to sell within 1 week of it being listed on the MLS. This was also a
complete renovation. The house had major pet damage that had to be dealt with but it turned out really
well. The house is being sold for $240,000 with a closing date of 11/14/18.

141 st St, Cedar Lake, IN
This house in Cedar Lake, Indiana was purchased in early September. It has taken a while to go through
the process to get utilities turned on but we finally have an inspection scheduled for this Wednesday.
Once we are able to get utilities on, we’ll probably do a light rehab and put it on the market.

Craig Dr, Jacksonville, FL
We are currently in the middle of this Jacksonville, FL rehab. We will plan to keep and rent this house.
We purchased this house for $50,000 and rehab costs will be about $47,000. We are also planning to do
a cash-out refinance after a 3-month seasoning. This will be our first Florida rental.

N Jay St, Griffith, IN
This house was purchased in early October for $69,000. We plan to rehab this and keep it as a rental as
well. This is the second house we’ve purchase in Griffith, Indiana in the past year. We’ll plan to rent it for
about $1,150.

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