October update on investment activity
Although there haven’t been many updates from us recently, we at DLH are working diligently to add properties to the portfolio of homes for sale and rent. Our two homes for sale have continued to pick up showings through our continued marketing efforts, and we’re waiting for an offer to be presented. We have been bidding on properties that fit our financial model, and we hold strong to those guidelines even when others outbid us. On the plus side, we are happy to report that we have 100% occupancy with our rentals.
Bids submitted today
We submitted a couple of bids today… one for a rental and another for a flip. Both properties have excellent potential, provided that we can acquire them at a price that fits our criteria. If we win the bids, we’ll have the rental ready for occupancy before Christmas and the flip will be targeted for listing in January 2016.
This 3 bedroom, 2 bath property will be a nice rental, with an estimated monthly rent of $825.
And this 4 bedroom, 3 bath home with dual masters will make a beautiful addition as a family starts the new year.
Our properties listed for sale
The home on Greenock has experienced the most showings with 9 over the past 70+ days. It is a great home with custom tile work in the master bath that is very attractive. Buyers are getting used to the garage being converted into a family room/den.
Murray Fork is a tri-level home that offers bedrooms atop the family room. It is picking up more traffic after a recent price drop. There have been 2 showings just in the past 48 hours.
Rentals are at 100% occupancy
Our property manager has continued to impress us with her service and her ability to find tenants quickly. All 3 rentals we’ve purchased this year have been rented within 1 month of completion of the construction rehab.
Purchased in January and occupied by end of February.
Purchased in June and occupied by mid July.
Purchased in September with a tenant already occupied.
We’re searching for a 4th property to close on before the end of 2015 to reach our goal. Maybe the property we bid on this morning will be the one!
2015 Strategic Offsite Meeting
David and I had the pleasure of holding our annual offsite strategy meeting earlier this month. We flew to Dublin and London, with a brief stopover in Boston.
We walked the Freedom Trail in Boston and enjoyed some pizza at Pizzeria Regina (a favorite of Anna and mine).
In Ireland, we took a bus ride to the Northern coast to experience the Giant’s Causeway.
Then we toured the Guinness factory and enjoyed some Guinness fresh from the factory. The Irish people were extremely nice and welcoming. I think Ireland was the favorite of both of us.
Onward to England, where we visited Stonehenge, Big Ben, and so many other London “must-sees”.
And we caught the Dolphins vs. Jets game at Wembley Stadium. It was great to see how involved and knowledgeable the English were in American football!
2015 Performance and 2016 Goals
Amidst all the fun and adventure in Boston, Dublin, and London, David and I hunkered down and focused on the successes we’ve achieved in 2015 — raised money from investors, purchased 3 rental properties, and have 2 great flips listed for sale — and ways we can continue to improve going forward.
The lofty expectations we’ve established as our 2016 goals seek to the foundation we’ve built over the past 2 years. We know that our efforts will allow us to continue to grow, get more people involved with our mission, and continue to make “a better community, one home at a time”.
Get involved – create your generational wealth
Have you looked at your performance for 2015? What goals have you set for yourself for 2016?