Welcome, and our first house

I thought I'd start a new blog, completely dedicated to house updates! My own little Flip This House. In the interest of not being completely tacky, I'll leave out the parts about how much we're spending or making and all that good stuff. I will say this though: While there seem to be a LOT of fix-up houses on the market, there aren't a lot of the right kind - at the right price, in the right neighborhoods, with the right things wrong. I am extremely glad that we 1) did our homework (lots and lots of homework) and 2) that we held out and waited for just the right property for our first flip.

The stats on the house:

Built in 1988
1900 sq ft
3 bedrooms, 2 bath
2 car garage
living/dining combo, great room & family room
big backyard & patio

We closed on September 15th

The plan:

We have a few system upgrades to make, but it is otherwise mostly cosmetic. Brand new kitchen, new bathrooms, new flooring throughout, new paint, new ceilings, new doors, new hardware. Get all the re-habbing done, and have the house completed and move-in ready by the end of November. Live there until at least January 2008, when we can take advantage of the tax break. We also hope to start buying others to strictly flip while we're living at this one. That's the plan.... we'll see how it measures up to reality :)