Thursday, March 2, 2017

Listing the Condo

Just keep swimming....that's how I feel, like Dory the fish.
The condo is on the market.  Just like that.

My fastest yet, but it's happening.
I'm listing it for $84,900.  Bought it for $63,000.

I have owned it for short period of time and have done next to no renovations or decorating.
But I'm going to give it a whirl and see what happens.

There is a science to my listing price.
It is the exact price I knew I wanted to list it for back when I first bought the property.
Unlike my other properties, not much was needed to be done with this city home.
To be honest, I wasn't really sure how long I would sit on this property, but the timing feels right now.
Not much on the market in this area.  And I'm hoping the price is fair.
With each house I have a chart of sorts, a financial screen shot.
Here's how I arrive at my listing price....
 The purchase price - how much I paid it for.
Costs to purchase the property - legal fees, broker fees, any other fees.
The renovations costs - material and labour.
Decorating and staging costs.
How much I need to list it for, minus Realtor costs, legal fees and any other fees.
Bottom line is how much I need to have in my hand at the end of the day.
I don't go for an outrageous profit, just enough to make it realistic.
With this profit I buy the next property.

Too often it gets hard for me to stay on track - reaching my goal of living in a country home mortgage free.
I'm kept busy maintaining my four properties.  Properties bought for the sole purpose of flipping, to reach this goal.

Ok, now back to the condo....
As I have mentioned a few times, I have had trouble decorating this condo.
Just couldn't get my groove into decorating this property.
So, you know what they say....if you can't beat them, join them.
So...I'm working with what I have, make the house look clean and welcoming to perspective buyers.

This is what I have so far....
Today I bought some paint, and for the next few days I will be painting, giving it a clean crisp look.
I bought a pretty dining room table set last week and have been busy painting that.

I rented a pretty living room set from Easyhome and it should be arriving in a few weeks.
I'm liking the soft blue.  The last time I rented furniture off them it was black, very bleak.
I ordered this set online, I did not go into the store.  This way I am getting what I want, in the colour I want.

Upstairs, I am giving the master bedroom a little bit of attention, making it cozy and relaxing.
The bathroom I'm adding a new shower curtain, small rug and would like to attempt to paint this room as well.

Now back to my future home....just keep swimming....stay with me people....
 No matter how busy I get with the properties, I stay true to my goal.
Every once in a while I get waylaid and get off course with my goal.
However, I always find my way back.
Just recently I took the initiative and started looking at vacant land.
And let me tell you, it was a really good feeling!

Buying the lot is my first step in my goal.  And it will be mortgage free.  I have to buy this piece of land with no
I am hoping with the sale of the condo or the sale of the farmhouse, to buy my land outright.
I looked at this (above pic) vacant property the other day, an acre lot with a large size shed, no house.
I didn't mind the property, but didn't really like that there was no other properties around except for one house, and it was directly across the way. one around except the one directly across from you....hmmm
I'm thinking I like the idea of country living, with a few neighbours sure but not directly across from me.

So I keep looking.  Keep swimming.
However, it's confession time.....and I am saying this very quietly...I'm getting just a little bit homesick.
Of late I have been feeling the need to be settled.  Yes, I really don't have a problem living a vagabond lifestyle, but I am finding as each year adds I am feeling the need to settle down.
I miss my horses, my chickens, my gardens, my bread machine.
Again, don't want to say this too loud because I have a long way to go yet, but there it is.
But I'm focused, and that is the road in the right direction.

Just keep swimming....have I lost anyone yet......
I know I talk a lot about this experience of buying and selling properties.
My new direction in life, renovating houses and the responsibilities that come with it.
I love doing it and will most likely continue to do it long after I reach my mortgage free home goal.

A few months back, around the Christmas holidays my vehicle broke down.
  I automatically started looking at loaning institutions to get a new one.
I have since change my mind about borrowing, however when I was going through the process one conversation stuck in my mind.
When I was asked about my income, I told them what I do.  He asked me what the name of my business was.
Well....I didn't have one.  It kinda threw me off.
I actually think about that question a lot.
I suppose if I continue to do what I'm doing I will have to look at the bigger scope of things.  The business part of it.
Up to now, I am expecting at some point to declare capital gains.
But I'm thinking the next time I sit down with my bookkeeper I will talk with him about this.
I will also talk with my lawyer about incorporating my business - my business with no name. :)
The only name I can think of so far is my own name (last name) - Craig Homes Inc.  Not that creative, but it works.
Even though I have just started in this business of construction, I can see how I will need to consider this possibility.

Anyway, wish me luck with the sale of the condo!
Just keep swimming, just keep swimming....

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  1. Best of luck with a quick profitable sale!

  2. I have so much admiration for you - you have a goal and are working very hard to achieve your dreams. Putting down roots and getting settled will happen for you because of your determination and focus. Wishing you much luck on the condo sale.