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Happy New YEar

3 Jan - Post by Mel Maxwell

Happy New Year to everybody out there in the 210 family! The new year marks about a year since 210 Holding Group was conceived. We're excited about how far we've come this year but 2021 will be even better--more on that later. We made great progress on the Pilgrim rehab over the last two weeks. Let's check it out.

PiLGRIM Progress

Foundation passed inspection
A/C Installation has progressed well. Ductwork began, A/C registers were installed in every room, and some of the wall mounted A/C units were removed with walls patched. A closet will be used to install the furnace which should occur in the next two weeks. Windows have been ordered to replace the windows which previously had window mounted A/C units.
Closed 2 of the 3 Front Doors on the house--we're back to a more traditional single front entrance.
Huge Demo Progress. We're on our second dumpster. There were two shanties built on the properties to include roof structures--one on the right side of the house was cleared out that now gives access to the backyard and immediately enhances the curb appeal of the property. During interior demo we did discover termite damage. We had it remediated and will have some additional cost to replace some framing in the house.
No Bonus Room. We worked with a local realtor and determined comps did not justify investing additional money to build out the bonus room. Demolition work began on enclosed rear storage area. About 2/3 of the enclosure will be removed for a covered patio area and the area conceived for the bonus room will remain an enclosed storage area.

Kitchen Design Complete

We think we've finalized our kitchen design. We determined that we needed to save cost and maintain the washer and dryer in the kitchen within the existing footprint of the house where we have access to water lines and 220V power. The video below shows the final design. It will be an L-shaped kitchen with white shaker style cabinets, quartz countertops and stainless appliances. There is an additional pantry storage unit on the end to replace some of the storage we lost as we convert the pantry/bedroom hallway into a master closet. We sent the kitchen design out for cabinet quotes last week. We expect to put in the final order next week--looking at 3 weeks lead time for them to return.

Networking, Social, and Look Ahead

In addition to a great couple weeks with the progress in Pilgrim, we are feeling some momentum with our networking and social media efforts. We made connection with seasoned investor, Lee Ripma from Redhair Holdings, who is doing a lot of investment in the LA and Kansas City markets. She was featured on the BiggerPockets Real Estate Podcast show 373 and is interested in the San Antonio market. We connected with her and she visited us at Pilgrim project and we checked out some other properties around the city.

We're having a great time documenting our journey on Instagram and we are beginning to see some traction over this last couple weeks. We are starting to find a sweet spot in what we put on Instragram and our reach has been consistently growing--still very small but huge improvement. It's leading us to connect with like minded investors for ideas, tools, systems, and knowledge. We also just started our Facebook page and our hopeful to grow connections with friends who aren't on Instagram.

Lastly, as we close out the year, we're very energized by the momentum we're gaining as we work through the Pilgrim rental. As we think about goals for 2021, it is clear purchasing one unit at a time, going through the full renovation cycle, means we can probably only do 2-3 properties next year at this pace. We want to scale faster than that. We've decided to invest in some creative financing coaching so we can get more properties with less cash out of pocket--we believe this will be the key to scaling the 210 Holding Group portfolio in 2021--we look forward to telling you more shortly.

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