I recently bought a Fanie Mae property via an on-line auction. I was originally drawn to the auction for a number of reasons: The auction was poorly advertised. It only showed up, as far as I could tell, on the on-line auction company web site and realtor listing sheets. You had to call an 800 number to find [...]
Continue reading...10. November 2008
The other night I had a one-on-one session with a client in Wealth School. It didn’t take long to find out that he was hung up on financing. He had stopped trying to buy cash flow properties 2 bankers told him he no longer qualified for financing. Yes, he purchased several properties in the past using [...]
Continue reading...10. November 2008
I focus on selling properties on rent to own or owner financing. There are lots of reasons to do this over stricktly offering your houses on a rental basis. Recently, we had several properties available - we had eight vacancies. Usually, we only have 2 or 3 available at any one time. That was starting to concern [...]
Continue reading...8. November 2008
Yesterday (Friday), one of my tenants called about a water leak under her house (The house in which she is living has a crawl space). She had called a plumber out to get an estimate. The plumber’s esimate was $875 to fix the leak. I told her I thought that was unreasonable, and I would call [...]
Continue reading...7. November 2008
Today a Wealth School participant came to me with a property (house with a garage in the back) in which he could assume the loan from a hard money lender. The owner of the property had gotten into trouble, and was relying on the hard money lender to bail her out. The participant was eager to buy [...]
Continue reading...7. November 2008
Operation Smile is an organization that provides corrective surgery for children in impoverished countries who have cleft palette. Such a surgery changes the life of the child forever. You can learn more about Operation Smile at www.operationsmile.org. As part of their Wealth School experience, the Wealth School participant raised $1,960 in just 30 minutes. That’s pretty impressive, considering [...]
Continue reading...5. November 2008
In this post, I’m going to cover a few more very important points about estimating repairs. 4. Simple solutions are often the best. When you are making changes to the layout, you have to balance functionality with cost. The more walls you move, the more plumbing you have to relocate, the more your costs increase. Be smart about where [...]
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11. November 2008
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