Archive
So you bought a house to flip, did a jam-up rehab on it, and already have it under contract with some buyers who love it. Things are going great. During the due diligence period, the buyers pay for a home inspector to go out and look the place over. Then it happens. Your agent calls and says, after the home inspection, your buyers have concerns. You’re wondering what could...
As we were doing the walk-through inspection of our most recent flip, we noted that there was a regular 200 amp breaker panel on one side of the house with a few open spaces in it. This was great because we needed those spaces to add a new air conditioning system. When we got to the other side of the house, however, we found a small fuse panel. It had no fuses in it so we just assumed it...
I was talking to one of my best friends, Houston Long, recently about something that had been going on at his office. Not only is Houston a top notch investor, but he’s also a fantastic agent at Maximum One Realty. At his office, they had a new hire that was going full throttle. By that I mean they were showing houses from early in the morning to late into the evening seven days a week. ...
Ashley and I recently came across a listing with “possible short sale” in the title. If you don’t know, a short sale occurs when a bank agrees to accept less than what the borrower owes on their mortgage when the property sells. This listing was intriguing to us since we haven’t seen any short sales advertised in a long time. Personally, I think short sales have almost gone the way...
Contract terminations Pete Fortunato has a wonderful way of defining contracts. He says a contract is a memorial of the meeting of the minds. Isn’t that poetic? For us real estate investors, our paper work tells the story of what happened when the buyer and the seller had a meeting of the minds and agreed to a deal. Sometimes I think we lose the simplicity of...