Last year 2018 was great one. We had a good run in aspects from brokerage to flipping to rental portfolio.
It was our first year of Om Realty group brokerage and we had target to just start out and recruit 5 agents who are investors and want to do investor friendly real estate. We reached the goal by Oct 2018. We set out to flip 5 properties and successfully flipped 5 homes and sold 4 of them with good margin. We converted the 5th one has the rental due to the season market. We also planned to acquire 3 homes to our rental portfolio from 2 rentals. But actually we ended up acquiring 5 homes to our portfolio increasing from 2 to 7 rentals end of 2018. We have exceeded our goals for 2018.
What’s up for 2019?
We were so excited about this year. During the Dec 2019, we happened to get acquaintance with like minded investor and got connection to local builder who likes to build new homes in local neighborhoods which are in the process of gentrification especially 5th ward, Acreage homes area.
We already acquired the lot for the new construction project in Acreage homes and set to start construction in few weeks after permitting is approved by the city. We are really excited about this new transition from flippers to new home builders. We really hope to get this completed end of March and sell it before summer and start the new one.
Above is the front elevation of the house. This current project is 2 story, 1600 sqft house with 3 bed, 2 bath and 1 car garage in the 3600 sqft lot. It will have latest new updates like 42 inch cabinets, granite counter top with island, good size bedrooms with laminate flooring etc.,
Also we plan to recruit 15 more investor friendly agents for 2019 to increase our brokerage presence. Few agents already joined first of 2019 and more to come. We will continue to help out investors on their rentals and continue to partner with investors on flip projects depending on the market…
Thank you for the support in 2018 and hope to have another great year…
