March 2010 in review

Better late then never.  March has been done for 9 days now and I am just posting this.  March wasn’t a great month in terms of purchases, so now we are a bit behind schedule but should catch up plus some by the end of April.

1. We sold House #16, March 31st.  The escrow took forever.

2. We bought House #35 in early March and that’s it for acquisitions.

3. House #36 through House #45 are in escrow, most of them will close in April.

Get to 20 rentals properties (not units)

We are up to seventeen rentals (including what is in escrow).  Eleven are rented, one is in under repairs and the other five are in purchase escrow.  So this goal should definitely happen, only three more to go.

Make 36 Purchases (Rentals, Retail or Wholesale)

By the end of the March we made our seventh purchase so far this year.  So right now we are two behind schedule, I am confident we will have twelve acquisitions so far this year by the end of April, maybe more.

Sorry for the lack of updates, I have a lot going on and getting ready to go on vacation in 10 days.  Wish me luck on making everything happen.

Raise $250,000 in Private Money – Accomplished

Now it’s time for you guys to give me an update on how your March was.  Mike Z, QkNic, BJ Fitzgerald, Stephen J. Moore, Jennifer how are you doing?

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4 Responses to “ March 2010 in review ”

  1. Jennifer says:

    I passed my CA real estate test on Monday, April 5th!!!! YAHOO!!!! Thanks for referring the crash course at Real Estate Trainers. It helped tremendously. One goal down, two more to go (2 more flips this year and get architect/plans for my own house).

    Congrats on all your success. It seems you will reach all of your goals!

  2. qknic says:

    Not much movement this past month. House 1 still for sale, house 2 near completion. (had permit issues that took forever). So once we get some buyers I will start the process of lookin for raw land to build on! so far so good

  3. Mike Z says:

    Closed 2 so far, Third one will close next week and I have my 4 one set to close at the end of the month. So far 1 a month. Just wish I had more cash as I am sure I could lock up more deals. To that end I will likely flip one of my properties in the next 60 days just to raise some cash. As you know I am a big time buy and hold guy but sometimes you just need to let one go so you can buy 3 more :-)
    Good Investing

  4. BJ says:

    Feb. was horrible due to the two blizzards, work, etc. My motto was to be No Excuses but 6′ of snow in a week takes a toll on you. I didnt post a reply Feb because I was so frustrated and there was nothing to report.

    March was a little better. Finally got paperwork off to a HML. Took them a while to get back to me but as of today we are pre-approved on a “Deal Specific” basis.
    They require a committment letter from a conventional lender prior to closing so we are working on securing that and just beginning to look for houses.

    Question for all you guys/gals with experience…The HML said they will not likely finance us for any flip due to our lack of experience and the current market… They said they know lots of full-time REIs that cant sell a house right now so Buy and Hold is the only way to go.

    I see you guys having success with it and am a little discouraged that a HML told me that. What, if any, are my options at this point.

    Sorry for long post but look forward to any responses. Thanks.

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