42 Bartlett Ave Rehab Video

Here’s my latest video of the renovation in progress at 42 Bartlett Ave. Were pushing very hard to have the renovation done by the end of the week.

http://www.youtube.com/watch?v=N5J_20s6sXg

42 Bartlett Ave/Before Photos

I have a video that shows the ‘before’ of my project at 42 Bartlett Ave. The project should be nearing completion. I should have an ‘after’ video by mid-next week.

Funny watching this video after almost four months of screwing around with this project.  First of all we discovered that the deck off the back was built without any building permits. The town required us to tear the entire thing down before they would issue us a permit. We did eventually agree to remove the deck and the town gave us a permit. That was only one of many problems we had. The people who sold us this house were extremely shady HVAC contractors. They did seam to do anything right!

The other major problem we had was with the plumbing. There was a sewer pipe running underneath the concrete floor in the basement. For some reason the prior owners disconnected this pipe from the main sewer stack.  We weren’t sure why they did this but thought the sewer pipe might be cracked. So we cut into the concrete floor and replaced the sewer pipe going to the main stack.

Hopefully we can sell this property quickly!

YTD Projects

Before I begin telling all of my many stories about house flipping I want to give everyone the background story. Sometime soon I will do a post in which I tell the entire story of how I got interested in real estate in the first place. But for now I will give the rundown of the projects YTD. Essentially the rundown of my first year. We’ll begin with my first project: 46 Paul Revere Road.

46 Paul Revere Road: I purchased this house as a short sale. It took us about 4 months to close the deal. Which is pretty reasonable for a short sale. We purchased this house for $401,000. This was my first project so I didn’t completely understand what I was doing. I got three bids from general contractors. In hindsight all three were bad for different reasons. The lowest bidder was very shady and took almost two weeks for him to submit his bid–he claimed he was ‘busy’. The second bidder was probably the best of the three. He made the best impression. The third bidder was very nice and probably a good contractor but his bid was almost 25k above the second bidder so we didn’t go with him. In the end we went with the second bidder. They were fairly good contractors and got the job done but they killed us with there ‘change orders’. In the end we spent 115k on renovations. We sold the property for $605,000.

287 Maple Street: This was my second project. And was a mixed bag for me. I’ll start out by saying that I am not doing very well (in terms of profit) on this project. But I would say I learned more on this project then any other. This was the first house were I felt satisfied with the end product. The contractor we had do this project was great. By far the easiest to work with and did the best work of all the contractors I’ve worked with. At least it was a good learning experience.

42 Bartlett Ave: This my far my most frustrating project. Just simply frustrating. No leaning on this project! I just wish I never did this project. Although I think I might actually make an okay profit from this deal. Its still been a frustrating experience. In a later post I’ll tell the saga of illegal additions, shady sellers, flooding and other problems that make up the story of 42 Bartlett Ave.

129 Grove Street: My latest project. I still haven’t closed. Not much to report. We’ll see how this one goes.

That’s my YTD recap of all the projects I’ve done. Clearly there is a lot more detail about each project. I will try to cover as many details as possible in this blog.

Welcome to the Candlewick Group Blog

Welcome to my blog! This is were I will share my many adventures as a real estate investor in Lexington Massachusetts. I am very young (14 years old) and am already starting a real estate business. I have many interesting experiences doing this at such a young age. Many of them frustrating but other very rewarding. But regardless of age there are still many very amusing and exciting things that happen running a real estate investment business. I hope that you’ll enjoy this new blog as it is my first. I hope I can keep everyone engaged.

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