Did we buy an alligator?

Did we buy an alligator?

Did we buy an alligator?   Real estate investors are known for being risk takers. As a matter of fact, most of the time the reason an investor gets into trouble is because they estimated too high on what a property would sale for once they fixed it up.   The outcome for this speculation is that the investor gets too thin with their numbers and overpays for the property….

Evaluating a big fat juicy deal

Evaluating a big fat juicy deal

Evaluating a big fat juicy deal   How many of you romance the idea of getting that big juicy deal that nets you $75,000 or more in profit? I know I do.     Logic dictates that in order to get bigger profits like this, you’re going to need to work with houses at higher price points. Right?   Well, it just so happened that we got a call last…

FiFa is a four-letter word

FiFa is a four-letter word

FiFa is a four-letter word   Well technically FiFa is not a four-letter word. It’s an abbreviation for the two Latin words Fieri Facias that translate to “you shall make happen,” which you’ll understand in a minute.     A FiFa is a lien issued by the clerk of court to a lawsuit winner who has been awarded a judgment. This lien becomes public record and gives the sheriff’s office…

Examining you offers

Examining you offers

  We bought a little three-bedroom mill house recently, that we had intended to keep. The problem was that we got so busy working on other projects that the house sat for a while. We kept rationalizing that since we got it at such a good deal, it was OK for it to sit. But after two months, we could see that it was costing us money just sitting there,…

The key to getting great tenants

The key to getting great tenants

I did something a little gutsy this week. I decided to do a Facebook live video were I walked the viewers through a house we had just gotten back from some vacating tenants. What made this move gutsy was the fact that I had no idea what the condition of the property would be. I just turned the camera on, unlocked the door and began filming.   The house was…

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…

Working in your area

Working in your area

  One of the biggest mistakes I see beginning investors make is buying a property a long distance away from where they live.   And trust me, I understand. It was a great deal. And you hadn’t seen anything that cheap around you.     Ashley and I did the same thing when we bought a place for $8,000 45 minutes (one-way mind you) from where we lived. And that…

Does this deal work?

Does this deal work?

  I have one of those aftermarket, Bluetooth- equipped, Kenwood stereos in my truck. Since I got it, everyone in the car is privy to my phone conversations.   As I drove to Cartersville with my 18-year-old helper, I got a call from an investor looking to sell his two rental properties. Consequently, Lucas got to listen in on the call.   The investor had two properties, which he had…

Lien on me

Lien on me

    We’re buying a house over in Adairsville — one of those buy-it-in-less-than-a-week-type deals — which means that for things to move that quickly, everything has to line up just right.   We got the house under contract Sunday, hoping to close it on Friday.   Monday morning, my closing attorney ordered a title search. This is important for two reasons. No. 1, you need to make sure your…

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…