Another Great Month of Real Estate - September 2024
Pasta, selling houses, pasta, building houses, and more pasta…
Italy
The team spent a couple weeks in Italy last month to celebrate our friend Michael Bajuz’s wedding. It was a lovely event and gave us the opportunity to plan our next real estate steps. If you follow me on social media, you know we are jumping into new construction development.
Our goal: Five houses in 2025.
Emmy Tip: Take minutes and notes from all business meetings. There’s nothing worse than trying to remember what you talked about after eating four servings of pasta!
Sell, sell, sell!
We are still trying to sell this lovely 3-bedroom, 2-bathroom house in beautiful Saint Robert, MO. As I mentioned, this house has bad vibes, and we are okay letting it go from our portfolio. We took the property off the market, did some additional updates, decorated the home, and cut the price by $10,000. Fingers crossed that this does the trick! We want to pour the profit from this property into our new construction efforts
Emmy Tip: Having multiple exit strategies (i.e. convert to a long term rental, sell, etc.) lets you adjust to the market and prevents you from being handcuffed to one outcome.
Build baby build!
Emmy tip: We overpaid for our initial drawings. We paid $795 to convert a PDF set of drawings into AutoCad and make a few edits. That payment included material lists for all the materials except wood and drywall.
We really liked our RV conversion project and decided to get plans for a similar new construction. Now that we have a complete version of the plans, we will request bids from local builders. At 730 sqft of interior space, we are hoping we can complete the project for close to $100,000 (i.e. ~$140/sqft).
Make it stand out
