House #39 – Construction Update

House #39 – Construction Update
We got permit approval on rough framing on House #39.  Our next inspection is Tuesday and should be electrical, plumbing and HVAC. The inspector so far has been pretty friendly.  So things should move forward quickly. We are just finishing with the clay tile on the roof, we ended...
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The House Just Needs Paint and Carpet…

The House Just Needs Paint and Carpet…
This is one of the most common things I hear in the business.  “Hey, you will love this house, it’s turnkey, it just needs paint and carpet.” Depending who it is, there are two reactions: If this person is telling the truth: So if this is true and the house just...
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Closed our first HUD Repo

Closed our first HUD Repo
All I have to say is finally.  We made our first original offer on this house in February. Step 1: Our agent sent executed contracts to the HUD office in Sacramento.  45 Days later I noticed the product shows as Active again and call my agent.  He calls HUD and they never received...
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House #39 Update – First Inspection Approved

House #39 Update – First Inspection Approved
House #39 is moving along.  We’re still not sure if we’ll come in on budget, but we’re trying our best! It took a little while to get the plans approved through the City.  They have outsourced the approval to a private company and only count business days as days...
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So You Flip Houses…

So You Flip Houses…
I try not to tell people what I do for a living.  Not because I don’t want to help people, but they always ask the same questions. My (name of a relative) is a real estate agent and I’m trying to buy a property to flip. I say, “That’s great, where are you...
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Hitting the Home Run Deal

Hitting the Home Run Deal
Everyone dreams of hitting the home run deal.  The house that the gurus brag about.  No hiccups along the way, it goes exactly like you planned.  Too bad life doesn’t work that WAY! Frankly, every deal we buy has to meet some minimum requirements.  But we don’t wake...
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First Short Sale Purchase

First Short Sale Purchase
Yesterday we finally did it. We closed our first short-sale purchase. After many offers and many disappointments something came through. Two weeks ago I called a medium sized REO agent that I have bought quite a few properties from and asked what he had coming up. He let me know...
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House #45 Listed

House #45 Listed
We’re moving along here slowly but surely.  House #45 is completed and just got listed. We enclosed the carport to a full garage and it is now officially 5 bedrooms and 2 bathrooms. Unfortunately, I don’t have great pictures of this one. Outside – Before Garage...
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First FHA PRE-90 Day Rule Flip Closed

First FHA PRE-90 Day Rule Flip Closed
Well, I can finally say it’s over.  We closed our first pre-90 day FHA flip.  House #32 turned out looking great, we got over 10 offers and picked a buyer that was willing to use our lender. From there the process did not go smooth at all: 1. The Underwriter Wanted a Copy...
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Who are Real Estate Auctions good for?

Who are Real Estate Auctions good for?
Before I become a full-time investor, I was like everyone else and associated auctions with “good deals.”  The longer I am in this business I am not as sure. Real Life Example #1 Two weeks ago, we went to a 3 house auction in California.  Two lower-end houses and one...
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