Archive
Fat deals looking slim Being able to track your rehab numbers is a crucial skill as a real estate investor. The reason for this is if you don’t know how much it will cost to fix the house, you can’t make an accurate offer. To show you what I mean by that, let’s talk about a real deal that we have on the table right now. This particular lead came in from an agent whom I’ve...
For sale by neighbor When I was a kid, we had a cassette tape of James Gregory. I remember listening to the different segments, laughing real hard, and rewinding the tape to listen to them again. (And to any of my younger readers, a cassette tape was like a small storage thumb drive for music that came before CD’s. And yes, I’m that old.) One segment that sticks out in my mind had...
Do you know your deeds? I was talking to an investor recently that was trying to figure out how to do a deal. He was a successful flipper and wholesaler, and he had a deal that was under contract with a nice profit margin. The problem was the house needed some work. His sellers could not close for a few months and he was wanting to figure out a way to get the work done between now and the...
Another statistic Have you heard it said that 8 out 10 small businesses fail within the first 18 months? I have, and I just thought it was true. As a matter of fact, I went looking for it the other day and was kind of surprised as to what I found. I found that statistic was stated in a Forbes article from 2013. But they gave no data or references to back their findings up. ...
Deeds tell a story I was talking to an investor recently that was having a hard time telling the difference between a warranty deed and a security deed. This confusion is not uncommon for investors that mainly buy houses using cash or traditional financing because the attorneys handle all the deed and paperwork. But this investor was in the middle of buying a subject-to deal. And with...