Cash Flow With Joe

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Stop digging

Stop digging

Stop digging   Have you ever heard the old adage “If you find yourself in a hole, stop digging?” Well, that’s great advice, especially for real estate investors because if you are in this business any length of time there’s a good possibility you’ll find yourself looking up from hole.   So what do you do about it? That was a question I got asked this week from a Zoom panel in which I...

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The price of doing rehabs

The price of doing rehabs

The price of doing rehabs   We just spent $100,000 on a rehab that we thought would cost $60,000. That means we went over budget $40,000. How do you like them apples?   To be honest, we were shocked that we went over this much, especially since at the time we calculated our offer to purchase I was thinking I overestimated the rehab.   This house was a three-bedroom, one huge bath...

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Is cash king?

Is cash king?

Is cash king?   I will never forget the first deal Ashley and I had ever done that was severely damaged by fire. The year was 2011, and the deal, which we call the burnout, was a 1992 single wide located in a mobile community in Dalton, Georgia.   That house was the third deal Ashley and I had ever done. A burnout on our third deal sounds pretty gutsy huh? Well, there’s a fine line...

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I do not envy flippers

I do not envy flippers

I do not envy flippers   I was told the same thing twice this week by two different financial advisors of mine. They both said, and I quote: “I do not envy flippers.”   The first instance happened on a weekly call I have with a company called Simple CFO. Simple CFO is a team of accountants with specialized knowledge about the real estate investing world, and they integrate a program...

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O appraisal, where art thou?

O appraisal, where art thou?

O appraisal, where art thou?   When Ashley and I did our first flip in 2012, the property was located on Atlas Way in Calhoun. It was a three bedroom, two bath brick ranch that we bought at a foreclosure auction for $19,178. That number sticks out in my mind because it was the biggest purchase I had ever made at the time. It was also the biggest cashier’s check I had ever seen. Do remember,...

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