House #48 – Wholesale Deal that didn’t Sell

House #48 – Wholesale Deal that didn’t Sell
House #48 was a small and average house on a big lot in a decent area of town, we originally bought it and planned to make it a rental house.  The lot seemed good on paper but in realty it wasn’t easily to expand the property or subdivide the property, so we decided to attempt...

House #39 – In Escrow/With Multiple Offers

House #39 – In Escrow/With Multiple Offers
If you have been following the blog for a while you might know that House #39 was a high end fire damaged property we bought in April.  We did a pretty solid rehab and where WAY over budget (in case you where wondering). After about two weeks on the market we have 5-6 verbal offers...

Investors You Need to Write Clean Offers to Banks!

Investors You Need to Write Clean Offers to Banks!
I recently listed one of the houses we purchased on the MLS with no repairs, asking for a cash-only investor. Trying to wholesale real quick via the MLS.  Sure enough, I got a ton of phone calls the first couple days and some interesting things happened. The lock-box combo is not...

House #26 – Flip this Mansion SOLD

House #26 – Flip this Mansion SOLD
I have good news, and bad news.  The first buyer on House #26 fell out of escrow, although, they seemed very strongly qualified I think they could not qualify for the loan.  They never really gave a very clear answer, but I got the idea I should find another buyer quickly. The good...

Leveraging Your Investment Team

Leveraging Your Investment Team
Well, if you read my last post you probably know what I think about most real estate gurus.  I do believe in that a strong team can save you a lot of money, but it doesn’t happen overnight. For House #16, we put it into escrow on Tuesday.  Last week I sent a informal counter-offer...

House #16 – Before and After Pictures

House #16 – Before and After Pictures
So Steve, you’ve owned this property for almost 5 months and haven’t sold it or given us an update?  Yes, it’s true, we have owned this property a long time and we just listed it on the MLS 10 days ago.  Why, well a lot of reasons, but no great ones.  We had a...

House #26 – Going to Escrow

House #26 – Going to Escrow
House #26 is our most expensive purchase to date, we started the list price kind of high to feel the market out, after feeling things out a bit, we lowered the price a bit and now we have multiple offers on the property.  We made a decision and opened escrow with a buyer, with one...

Breaking News! FHA 90 Day Rule, Lifted until Feb 1 – 2011

Breaking News!  FHA 90 Day Rule, Lifted until Feb 1 – 2011
I do not have all the answers yet, but I do have a copy of the letter, with the Federal Housing Administration lifting the FHA 90 Day seasoning rule for one year. http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf Determinations 1. To help facilitate the return of repaired and...

House #15 – Sold

House #15 – Sold
I should have posted about this before Christmas, because this house sold on December 21.  But I am way behind, as you know. We bought this house at the end of July and ended up owning it almost 150 days (you got to love the FHA 90 day rule).  The house had slight fire damage and...

Cash Offer on House #17

Cash Offer on House #17
We just got our third offer on House #17 today, and it was almost full-price cash.  The family is wanting to move closer to their sick mother and sold their house closer to LA. This is not the first offer we have received on one our properties, someone gave us a cash offer on House...

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