I really like buying properties that were built in the 1920’s and 1940’s for rental properties. Why buy such an old house? Simple. I can get these really [...]
Continue reading...20. December 2009
Another question came in from one of our Wealth School Students. Question: “I have purchased another cash flow property (a single-family house), and am about to get started on the renovation. It’s a large house, and I could squeeze out an extra bedroom to make it a 5-bedroom house. Would it make more [...]
Continue reading...17. December 2009
Question: “There is a 91-day “flip rule” for any property purchased and sold to someone who intends to purchase your property with FHA financing. I know that applies to the REOs I’ve purchased, fixed up, and sold. Does it also apply to properties purchased from individuals?” Answer: “Unfortunately, the answer that question [...]
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 [...]
Continue reading...2. November 2008
It is critically important that you be able to accurately estimate repair costs when you evaluating a house to make an offer. Here are some tips to keep in mind: 1. Use a one-sheet form that is put together somewhat like a check list. Make sure that all aspects of repair estimating are on the [...]
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18. May 2010
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