Archive
Every industry has expenses associated with the cost of doing business. In real estate, however, those cost may not be as apparent, especially for new and aspiring investors. I know this because I got to explain some of those expenses to two different investors involved in two different deals this week. I would like to talk you through both scenarios so you’ll be better prepared to...
I had an interesting experience recently. I went to lunch with a banker after I had inquired about how a business line of credit worked since I had never applied for one before. I was expecting the rep to showcase what products the bank had for investors and explain what kinds of qualifications and stipulations would go along with each. That’s not what I got. Lunch...
I got a call from a newer investor recently, and he was about to do his first subject-to deal. That’s where you buy a house and leave the seller’s mortgage in place after closing. You then make payments on that mortgage until you either pay it off, refinance the house or sell the property. The investor was looking for some guidance on how to set up and properly use a land trust,...
I had an opportunity this week to evaluate some qualities one needs in order to be successful as a full-time investor or real estate professional. It started Monday morning as I was heading to the office for our weekly staff meeting. The project at forefront of my mind was completion of the rehab on a flip that was about to sell. We were running behind on it and needed all hands on...
Ashley and I had a first recently. We bought a house with an in-ground pool in the backyard. Now we’ve bought houses with above-grounds pools many times. But that’s an easy situation to remedy. Depending on the style of pool, you can either take a razor knife to the side or post a picture of the pool on social media with a line that reads, “Free — come and get it.” Both scenarios are...