January Mortgage Update

Mortgage Balance: $158,369.08

January Payment:
$764.00 (+$208 property taxes / $350 HOA)

Principal paid: $235.32
Interest paid: $528.68

Total interest paid on the new loan: $3,717.08

Estimated Value: $325,000*
*Until the improvements are finished, we are keeping the value at our purchasing price unless the market makes a drastic change.

Getting The Keys

If your just catching along with our house buying and selling story, you'll want to check out the re-cap post on our 1 bedroom condo.

Our starting profit from the sale of our condo was $181,691.35. From there, we purchased a 2 bedroom condo in the same complex. Our very extensive down payment came from the profits we rolled over from the sale of our first place.

• Down payment: $164,000 (100% profit from our first sale)
• Inspection: $300
• Admin/Origination charges: $899
• Processing Fees: $495
• Appraisal: $410
• Flood Cert: $11
• County taxes: $46.78
• Endorsement Fee: $25
• Recording Grant Deed: $9
• Recording Trust Deed: $57
• Notary Fee: $175
• Messenger fee" $25
• Archiving fee: $80
• E-Document fee: $100
• Escrow fee: $798
• Lenders title insurance: $357
• Sub escrow Fee: $37.50
• Recording fees: $150
• Home Owners Insurance: $400
• Prepaid Interest $140.24
• HOA Dues (June) $93.33
• HOA Dues (July) $350
• HOA Processing Fee: $50
• Lender Credits +$6.40
• Seller Credits +$1,200

Money spend to move: $167,834.96.... Remaining Profit from original sale: $13,856.40

We got the keys and the same day we moved in, we also started to remodel. (Yup, after the boxes were out of the u-haul, we ripped out our master bedroom closet the same day as it was broken and jenky as all get out!)... Here's what we have spent so far on the remodel. 

Washer/Dryer, fridge, delivery, install	$ 2,037.61
Dryer hoses	$ 17.26
Stove, microwave, delivery, install	$ 982.82
Stove plug	$ 32.31
Reverse Osmosis System	$ 233.53
Stove Outlet Labor	$ 40.00
Tv Mount - Living Room	$ 135.00
USPS change	$ 1.00
Bathroom shower rod, curtain, hooks, tub fixtures	$ 234.47
Windows / Slider door deposit	$ 690.03
Portable wire racks (3)	$ 118.22
Living Room Rug	$ 163.00
3 Ceiling Fans	$ 382.52
Laundry Hose Connector	$ 7.52
Paint Samples, Keys, Impact Driver Accessories	$ 56.34
Tools to remove nails from Cement and boards	$ 27.95
Tile Samples	$ 4.14
Electrical Parts	$ 1,213.23
Electrical Labor	$ 1,850.00
Ikea Bathroom + Toy Chest	$ 1,266.78
Paint Prep supplies and ceiling paint	$ 214.28
Drywall Costs	$ 1,380.00
Heater Repairs	$ 1,146.94
Painting Supplies	$ 340.62
Home Depot Supplies (Bathroom install)	$ 127.08
Tub resurface	$ 500.00
Home Depot Supplies (Bathroom shower)	$ 53.16
Home Depot Supplies	$ 68.49
Home Depot Return	$ (170.75)
Paint, Door Measure	$ 124.72
Home depot Vents and Spray paint	$ 54.07
Window coverings / Curtains/Rods	$ 320.42
Windows / Sliders /Final	$ 6,210.27
paver stones, 2 plants, plastic sheeting	$ 130.25
Home depot	$ 5.90
Profit/Loss	$ (5,410.02)

As of now, we are currently in the hole $5,410.02

And that's only just the beginning... While I've read that its good to live in a space and use it for a year before making massive improvements... we bought a long term rental and some things in this place just shouldn't wait to be fixed for safety... and also function. (Like the fact that the bathroom "vanity" was actually a kitchen cabinet, which made it very difficult for hubs who is 6 foot 5 to actually get to the toilet...)