Working… or hardly working?

I have not had time to post very much lately.  I wish I could say it was because I was off on vacation, but we have been swamped closing properties, getting permits and fixing what we got. House #3 – In Escrow (or Close) This house should be in escrow today at a solid above...
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Buying at Auctions?

Note: This post is completely from my personal experience and probably not true for all of the United States. We think we are pretty good at buying properties at a relatively profitable discount compared to the rest of the market.  This allows us to fix up neighborhoods and make...
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House #3, The Break-Ins, Corner Lots…

House #3 is in what we thought was a good area of our farm.  We did get a smoking deal.  After we purchased it, we realized the street was a little bit busier then we thought, but figured we would be okay. Fast forward 90 days later and we have had a whole run in of break-ins: Our...
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FHA 90 Day Flip Rule … A Major Pain

If you’re involved in flipping  houses, you probably have first hand knowledge of this rule.  If you’re wanting to get involved in flipping houses, you should know about this deal. FHA requires that: only owners of record may sell properties that will be financed using...
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Cash, Hardmoney, Rehab Loans?

So you want you are ready to get into the real estate rehab game.  You’ve looked at 100′s of properties, started submitting offers, but are wanting to figure out your options.  Here is what I have noticed about the financing end of the game. To get the stellar deals...
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House #9 Closed – Accepted Offer on House #3

House #9 Everything on House #9 went as planned, which is not very common in this business.  The escrow company that the bank picked I was nervous about, my agent has had numerous bad experiences with them.  At the end of the day, they did a professional job of being organized and...
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Don’t use the Bulk Offer Strategy!

Many people wake up with this brilliant idea to save them time.  Rather then going to physically look at the property, they canvas the entire MLS and offer 50% of asking price on every property in a city.  Once they get an accepted contract or a counter offer they do the diligence...
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House #8 – The Easy Rehab

House #8 is one of the deals we are working on that is out of our normal property farm.  It is a bit of a higher end property compared to what we normally do, but still well under the areas median homes prices.  We have had it under contract for about three weeks now and we are...
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House #9 – The Wholesale House

I just got back from wiring money on House #9.  We wholesaled this house to the same investor who bought House #7A and #7B.  He is looking for rental properties and already has this one rented for $900/mo.  It wast listed for $89k in the MLS, and we ended up selling it to our buyer...
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So you think it’s a deal and escrow is opening…

You’ve worked your butt off and now your agent calls you and said the bank/seller has agreed to the price and is ready to open escrow. What do you do now? Step 1 – Go look at the Property Again Once an agent tells us we are close on an offer we always go look at it again. ...
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