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It seems like this train moves very slowly.

That has been the way that we have came into the real estate investment business. The train has moved very slowly but, it is moving.

Buy a fixer upper property, teach yourself how to do remodeling, and do it!

Rent out the property for positive cash flow or sell it. Then do it over again, if you buy right and do the work yourself you can make it. It will be a slow train but, in 4... continue reading >>

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The only way that I know to continue the flow of rehabs, rentals and sales is to keep making offers. I try to have at least one offer out all the time. Right now we have 3 offers out, one was accepted, one was rejected and the other is pending an answer.

Buying the property is over half the profit, is my way of thinking. If I can get in for 40-50% of ARV and even if the rehab is 20% of the value, you can still come out ahead. I have often wondered if I could... continue reading >>

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There is no doubt that the deals are out there and I want to start doing some wholesaling.

The business of rehabbing-holding and rehabbing-retailing has been good. It was an excellent way to start but, as I have said it seems to be a very slow method. The first thing I want to do is build a buyers list, fellow rehabbers, landlords, and investors.

A fear or mindset that we must get rid of is whether or not we are going to be able to sell or flip the properties we put under contract. I have always heard the saying... continue reading >>

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How true that statement really is, whether you are talking about your life, your business or your relationships.

It makes me realize that perhaps, stuck in this middle income mentality, that I tend to just get comfortable and sit back. It is tooooooo easy to do, I mean if you have a good job, good health and a little bit of money, it is easy to waste time.

I am going to starting today make certain that I do at least one thing to get out of this comfortable little rut and move forward.

Just think about... continue reading >>

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MAO

Maximum Allowable Offer

As I have said, we make 50% of our rehab profits when we buy the property.

Perhaps right now, I am what some of the more experienced investors that I have had the honor of communicating with here on REI, would call a "small fry" or an "armchair investor". That is ok, because if you do your business correctly and continue to learn from the more experienced folks, you will be successful.

I have a quote hanging on the wall to remind me to never give up: "Our greatest weakness lies in... continue reading >>

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Good Afternoon,

We have started the rehab project on Pine Street this past weekend. It is a currently a 3 bedroom 2-1/2 bath layout with a huge den add on. I had asked a question in the forum about what to do with the 1 car garage room that exists now. It used to be a garage but, now it was just a play room for teenagers, the best that I can tell. I have looked at comps in the area to answer this debate and spoke with some realtors about which adds value to the property, a garage or... continue reading >>

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Greeting REI,

It was six years ago this month when we started and now we have 11 units with only 3 mortgages, the others are paid for in full.

We wanted to start buying properties to rehab and hold as rental properties but, we did not have much money at all. We had good jobs and weekends off.

So, we ask my wife's mother if she would be interested in investing with us. She said, "that she would partner with us but, was limited on the amount of work she could do".

We started looking for properties, we looked at... continue reading >>

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Stay Recession Proof-

What does that mean to you?

To me it means, that if 50 percent of the properties that we own were empty and they had no monthly income at all, we would still be in business.

I have watched other investors that have over leveraged their properties go broke. They had a mortgage on every property and sometimes two. Then, when a problem comes up like a big layoff when a factory shuts down, and suddenly they have 5 empty houses with mortgages the investor has to pay out of pocket.

Examples:

(number 1) If you... continue reading >>

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It is difficult to try to do real estate investing properly and still work your full time job, spend as many hours doing remodeling work on your recent investment, take care of your daddy duties with the kids and have time for your wife, too.

I try to work everything on a schedule, it does not always work perfectly and you have to be flexible to changes that will come up when you do not expect it. I know that I am small time compared to some of the other investors on this site but, you have to start... continue reading >>

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Just wanted to post an update on the rehabs working:

Elm Street 90 percent complete We have to paint the exterior of the home, it is all scraped, cable wires and christmas light hooks all removed. One more coat of poly. on the hardwood floors that we refinished then, wire up the new hot water tank that I installed last week. If the rains would stop for more than 3 days it will be done. Then, it will be for sale retail.

Pine Street 15... continue reading >>