Crazy as flip

Crazy as flip

  So, you’ve been telling everyone that you buy houses, and you’ve finally found someone who needs to sell their property quickly. After you inspect the house, you realize it needs work. But there could be a good profit if you fix it up and sell it. You get the seller to the kitchen table and structure the deal of the century. The seller accepts, and you close the deal….

Read everything you sign

Read everything you sign

  We’re doing a property right now that has a propane furnace, so we went to see Ms. Sue over at Calhoun LP Gas. She got me taken care of and scheduled their guys to bring me a tank the following week, weather permitting.   As we were doing the paperwork, Ms. Sue noticed I was reading everything and remarked that that was fine, but that it was just their…

Ah Chalet-lee

Ah Chalet-lee

  I wish you could hear the voice of the character I have inside my head. It’s that of a Scotsman. I’m not sure if it’s from a cartoon I watched as a kid or if it was one of Robin Williams’ alter egos. Either way, when something unsavory would happen to the Scotsman, his expletive of choice was “Ah shillelaghly!”   And with what we just learned on a…

Home Inspections

Home Inspections

  So you bought a house to flip, did a jam-up rehab on it, and already have it under contract with some buyers who love it. Things are going great. During the due diligence period, the buyers pay for a home inspector to go out and look the place over.     Then it happens. Your agent calls and says, after the home inspection, your buyers have concerns. You’re wondering…

Oops Money

Oops Money

As we were doing the walk-through inspection of our most recent flip, we noted that there was a regular 200 amp breaker panel on one side of the house with a few open spaces in it. This was great because we needed those spaces to add a new air conditioning system.   When we got to the other side of the house, however, we found a small fuse panel. It…

Contract terminations

Contract terminations

Contract terminations   Pete Fortunato has a wonderful way of defining contracts. He says a contract is a memorial of the meeting of the minds.   Isn’t that poetic?   For us real estate investors, our paper work tells the story of what happened when the buyer and the seller had a meeting of the minds and agreed to a deal.     Sometimes I think we lose the simplicity…

Seek out great Agents

Seek out great Agents

Seek out great Agents   The other day, a young agent contacted me about a deal down in Cartersville. It was a great deal, and since the agent brought it to my attention, I made my offer through him.   As I was going through the paperwork, I noticed something called an “Exclusive Buyer Brokerage Agreement.” Be careful of these. As this particular document stated, “the buyer hereby agrees to…

Should you use a handy man?

Should you use a handy man?

Should you use a handy man?   Lately I’ve had a hard time finding a good, consistent, and affordable painter that’s not booked three months out.   This issue led me to do something I don’t normally do – I called a handyman service for paint bids on two consecutive projects – I got burned on both of them.   The first house was in Dalton.   I hired a…

Appreciation

Appreciation

Appreciation   I’m a huge fan of the Home Depot in Calhoun. I’m in there multiple times a week -sometimes a day. The people there are always friendly, knowledgeable and quick to help.   I know most of the associates in there by name; they’re really a great group of people.   I could elaborate, but for time sake, I would like to talk about what you can expect when…

Yo… Flippin ain’t easy!

Yo... Flippin ain't easy!

  Yo… Flippin Ain’t Easy:   Flipping is one of the first things people think of when they consider getting into real estate investing- “flipping” being the process of buying a house for below market price, fixing it up and selling it to make a BIG chunk of money.   Shows like “Flip or Flop” on HGTV, make flipping look like a piece of cake. The truth is it’s a tough job….