Archive for January, 2011

Our blog!

January 28th, 2011

As part of our website, we will post periodically to our blog regarding many topics of potential interest to our visitors.  As our name indicates, we focus on Delaware properties, so our website will heavily focus on real estate, homes, properties, and rentals in the Delaware market.  Today we’d like to congratulate the new owners of 69 Leader Dr in Newark, a 302 Properties renovation with pictures available on this website.  To provide a little background on who we are, 302 Properties LLC is based in Newark, Delaware in Pencader Corporate Center off route 896.  The owners are Lou Honick (me) and Doug Bartsch.  Previously I was the owner of, and after selling the company to a private equity firm in June 2008, I briefly retired later that year in November.  Doug and I founded 302 Properties in January of 2009 with the idea of buying one house, renovating it ourselves, and buying a new property once it was sold.  We settled on our first house for renovation, on Olden Avenue in Christiana Village, in February 2009.  After a little more than a week of working on it, and I suggested that we look for additional properties and consider hiring some help to assist us in the renovation process.  Two years later we have purchased over 50 properties with some being re-sold, some being rented, and about 15 in our pipeline for renovation.  We employ a crew of 10 workers, as well as an Operations Manager and an Office Manager.   Doug and I acquire properties through the sheriff’s sale (foreclosures), bank owned properties (REO), and from private owners.  We specialize  in distressed properties and have seen just about everything you can imagine.  I look forward to continuing to share our journey through this website on a regular basis.

For today, I leave you with an interesting story that caught my eye.  While it isn’t about a Delaware property, it certainly is interesting and I would be surprised if we came across a situation like this at some point.

For the right price, you can bet we would buy it!

302 Properties!

January 19th, 2011

Welcome to 302 Properties blog! Here we be able to share work in progress, before and after photos of renovated homes, and more about what’s going here!