What a busy week in the land of California real estate investing. I closed on three purchase escrows this week alone and put two more under contract. If you’re counting that should make 5 purchases for January. So we are getting a great start to our 2010 goals.
Three of the houses are going to be rentals and two are flips. One of the two flips I only have a piece of as I brought in an equity partner.
I was hoping to have House #17 and House #18 sold this week, but it looks like we are going to need a couple extra days. We got loan docs signed on both deals, we are just waiting for the funding conditions to be met and the lenders to send their money in. The profit on both these deals is quite good, we bought the houses cheap and prices have gone up about 10% since our purchase.
A Motivation Tip –
I was at a lunch meeting with a local extremely successful landlord earlier this week. We where sharing our goals for the year and some ideas. He is very visual and said he didn’t something different this year. He wrote himself a check for $1,000,000 and put it on the front page of his goal book. He said it will bounce but it is a motivation that one day he wants to be able to cash it. Taking his advice I now have a $1,000,000 taped to my office wall, near my desk. Every time I am punching away at they keys it can stare me in the face until one day I can cash it!!
That being said, I don’t know how many people read this blog regularly, but you should take a minute to post your 2010 goals on the bottom of this page so we can hold each other accountable. You can see my 2010 goals here, and if I don’t make them you better hold me accountable!