Yesterday...

....I decided not to invest in a real estate deal with Henry. He is hoping to purchase a property here in Portland, do a little rehab work on it and turn around and sell it for quite a bit more. The two-story house was built in 1984, which is good and is in a nice area of Portland. It's roughly 1,700 square feet in size with 3 bedrooms and 1.5 bathrooms. Nice patio area outside the front door that just needs to be steamed cleaned of moss. Nice size backyard, though it's pretty much at a downward angle. Should probably be tiered and landscaped a little. The house has funky layout as you walk in the front door and there's an angled wall infront of you. You can turn left to go to the upstairs bathroom, straight to go into the unseen living room or right to go down the stairs. It needs to be painted and have flooring replaced. The kitchen needs to be updated with new cabinets and appliances.

In doing my research on the property, I question how much more the house would be worth after that work is done. Henry seems to believe it would increase the value over $100,000 even though he is purchasing the place for $211,000. I cannot put my head around that much of an increase. Yes, the house would be worth more, but the house has been on the market for quite an extended period of time, without it yet being in contract. I very much dislike the 1.5 bathroom aspect of the house. That is a huge negative. Yes many people live in a place with 1.5 bathrooms but in today's real estate market buyers can be choosy and will be choosy. Sellers must get rid of every negative they can get rid of. Buyers question anything they can. So sellers must not give buyers an opportunity to question anything.

I'm more concerned with how this will affect my building relationship with Henry. I want it to grow and continue. Maybe I won't be a good financial partner with him but perhaps I can find properties for him to rehab. Give him a better perspective than his current real estate agent. Or maybe he will give me the impetence to get my ass moving again in the real estate world.

I love real estate and want to work in it again. I want to help people buy and sell properties. I want to help people make their dreams come true. I know I can and I know I am a good, honest, hard working real estate agent. I've got it in me.