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Saturday, May 24, 2008

Full Marketing Mode!

The time has come.
26453 Curie Court in Warren, Michigan is NOW COMPLETE!
Well, I did have to finish up with some paint touch-ups and overall cleaning (I have discovered that contractors don't do windows!) :-D

I have included an updated walk-thru video (no commentary this time) and I am going to use this as my virtual tour on the MLS (that's multiple listing service database used by Realtors). That's right, I'm using a Realtor to list my house while I advertise as a For Sale By Owner (FSBO) at the same time. If I find a buyer through my own marketing activity (Craig's list, Owners.com, Zillow, word-of-mouth, etc.) then I pay no Realtor commission. I paid an up-front flat fee of $495 to get full exposure on two MLS (MiRealSource and Realcomp) which gives me broad coverage across south-east Michigan counties.

I am looking forward to a lot of interest being shown in this house and a quick sale (no more than 6 weeks). And then ... we will be on to our next project. Between projects, I hope to share my lessons leaned as I review the costs involved. Right now, the most obvious area in which I need to improve is the costs of renovation. I have shared my numbers with fellow investors and I was told I paid almost DOUBLE what I should have paid. Personally, I don't believe they understood the full scope of what was needed, but I do believe I should be able to cut my rehab costs by at least 30% -- I just need to do more homework (research) and get better referrals from those who know how to do this. Heck ... this is ONLY my second project!

Enjoy the walk-thru: