Be very careful right now You may not know this, but we lost the very first real estate investment deal I was ever a part of to foreclosure. How’s that for a credential? It wasn’t a house we had bought to flip or rent out. It was a house my family was building to live in for a few years and then sell to bolster my parent’s retirement….
One-sided This week I got a call from an agent to go look at a potential deal. It was a 5-bedroom/ 3-bath house with over 3,000 square feet located in a very desirable area priced at only $100,000. When you see deals like that, you stop what you are doing and get to the house as soon as humanly possible. It wasn’t hard to spot which house I…
The Gut Job In this episode Joey and Ashley walk you through a rehab that is an entire Gut Job. Was it worth it? You’ll have to wait and see.
Here’s what we’re seeing right now Who would have predicted that a virus could’ve had this much of an impact on us? I didn’t see it coming. So, what are we seeing right now? April was good as far as rentals go. We are at about 90% on our collection rate. What I wrote to you about talking to our tenants and being proactive really proved to…
Fear and proactivity I think that you will agree with that me that there’s a lot of uncertainty going on right now. And people do some strange things when they get scared. If you don’t believe me, go check out the toilet paper aisle at the grocery store. Now, I’ve had to make a run, or perhaps more of a waddle, for toilet paper before. But I’ve never seen…
Investing, family and footprints Real estate investing is our family business, and I’m not just talking about Ashley being my partner. Our kids have also been involved their entire lives. You see, Ashley was closing a short sale and fielding calls while giving birth to our first born. I’m not joking. I have the video to prove it. She was on the phone talking to a seller while…
Weighing in I don’t know if I’ve told you this, but Ashley and I have been self producing a reality show called “What’s the Deal.” It’s a different concept than most of the real estate investor shows you see on TV. We’re trying to bridge the gap between what you might see on TV and what a mom-and-pop investor experience is like in real life. The other thing…
What does a day look like? I’m often asked what a typical day looks like for a full-time investor. This is a hard thing to answer because any given day can be different. But to give you some insight as to the possibilities, let me tell you about yesterday. I woke up at 4:30 a.m. (that’s not a typo.) The reason I get up so early is so…
How do you measure success? I was standing in a store the other day buying materials for a project when I saw a friend I haven’t seen for years. He also happened to be buying things for a project he was working on. We talked for a while, catching on up on the past. Toward the end I said, “So, you’re still at it” in reference to his…
Multiple Offers How many of you would love to get multiple offers on one of your flip properties? Normally I would too because that means better offers when buyers are competing over you. But we have had multiple offers on a great house up in Whitfield County that — well, let me just tell you about the situation. First off, when I say this is a great house,…