This was quite the rehab. Rarely do we have to scrap the ENTIRE house but from the look of the before pictures you can see that this is exactly what was needed. Everything was redone.  Walls knocked out.  Carpet replaced.  About a 1/2-acre of trees removed. An old barn demolished. Septic tank replaced. You name it. Let’s take a look at different items in The Gutted House.

The Outside

Trees and more trees

Front of House Before

Back of House Before

The Inside

Kitchen Before

Bathroom Before

Front Room

A lot of random colors here.

Family Room Before

Purple Stairs anyone??

Bedroom Before

Be sure to check back in with us to see how The Gutted House comes along!

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Here’s his best advice to other REIs

“It is far too easy to quit when a few of the inevitable real estate problems arise … your vision must inspire stronger motivation and action than the paralyzing disappointments.”

He should know. Almost 10  years ago David Toynbee suffered a traumatic head injury at the age of 25. He was  given “a 50-50 chance of dying or being a quadriplegic.” With a strong will to continue his life, he defied the odds and walked out of the hospital three months later. The following year, he regained his ability to read, his driver’s licence and job.

Quite and inspiration to anyone in a devastating accident. But David went on to defy the odds and tried his luck at flipping houses. We picked his story because his strategy aligns so much with what we teach here at Part-Time REI. 

His Strategy

Like any good student, David read up on his subject. He found inspiration in books on real-estate investing . And furthermore gained the investor mind set and the motivation to purchase his first investment property. He also joined the Langley, B.C.-based Real Estate Investment Network to learn more about building a portfolio of properties. Something else we recommend; surrounding yourself with like-minded people.

He is primarily a buy-and-hold investor, focused on generating cash flow from his properties. Cash flow is “the most important factor in sustainability,” he says. Adding key points to finding good areas and opportunities to add value with renovation improvements and/or changes of use.

David soon realized that after a few years, his first investment property had more equity in it than what he could possibly save after 20 years in his day job. This was the first realization that real estate investing was an avenue worth investigating for him.

He has also learned valuable lesson on leveraging the right people in his business. Once he hired a property manager with out interviewing them and outlining his expectations. That hurt him more than it helped him he says. Lesson learned.

Do you have a success story that you would like to share with Part-Time REI?

To learn more about Part-Time REI visit us at http://part-timerei.com/

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When someone hears the city name Green Bay, it is hard to think of anything but the famous Cheeseheads of the Green Bay Packers. Not many realize the actual Cheesehead headquarters is the oldest city in the state of Wisconsin. Though it is the oldest, it is only the third largest city after Madison and Milwakee. The 2011 population of the city, according to the US Census, was 105,809. Green Bay has been known to be an industrial city and like Detroit felt a hard hit with the down turn of the economy. Most of the plants in Green Bay are run by the paper and shipping companies. But the new year the new year started off mixed for the state’s real estate markets. Fewer houses sold than in the first month of 2013, but they sold for higher prices.

The Wisconsin Realtors Association recently reported that January home sales were down 6.8 percent statewide, but median prices rose 3. 2 percent, to $126,900. Home prices rising is usually a good sign for investing in real estate.

To learn more about Part-Time REI visit us at http://part-timerei.com/

Or connect with us