Feb
28
Know Your Risk Tolerance When Investing in Real Estate
February 28, 2007 | 1 Comment
Nothing like many media reports about impending doom in the sub-prime lending market and a kneecapping of the Dow Jones to add fuel to the fire of those claiming that the real estate bubble isn’t close to bottoming out, a recession is looming, and that anyone inetsting in real estate now will be completely and […]
Feb
27
Soooo Many Houses (Drool)
February 27, 2007 | 1 Comment
Met with our realtor yesterday to check out the inside of the foreclosure duplex I’ve been eyeing. Honestly, I was almost hoping that it was completely trashed out inside, as I have enough going on as it is, but it actually wasn’t in terrible shape at all.
It’s a weird layout, as it used to be […]
Feb
26
Get Emotional About House Flipping Profits
February 26, 2007 | 3 Comments
We’ve already talked about the primary source of house flipping profits, which is buying properties for less than their actual value. The second weapon in the flipper aresnal is another obvious one, which is making repairs and renovations on homes that increase the potential selling price.
Although that seems straightforward, it actually bears a closer look. […]
Feb
24
Paying Less Than Actual Value for an Investment Property
February 24, 2007 | 2 Comments
The whole point of flipping a house (or any investment property in general) is to spend X dollars in return for Y dollars. If Y - X = a positive number then it’s a profitable investment for you; if Y - X = a negative number, then you likely need to find other ways to […]
Feb
22
Financing House Flipping
February 22, 2007 | 17 Comments
Probably the largest obstacle to successfully flipping a house isn’t so much locating and renovating the property, but more simply coming up with the necessary money to make it all happen.
We’d all love to have the option of simply paying cash for an investment property but the vast majority of us don’t have that much […]
Feb
21
The Waiting is the Hardest Part
February 21, 2007 | Leave a Comment
Not much news to relate, as I’m basically just waiting to close and to get to work on the 1002 S. Main St. house. Insurance is all lined up and the loan is in the hands of the underwriter, with appraisals ordered, etc.
I can’t say I have much love in my bosom for underwriters. I […]
Feb
16
Potential Duplex Rental Investment
February 16, 2007 | 1 Comment
I really need to stay away from the MLS listings, as I keep finding potentially profitable deals.
A foreclosure listing popped up yesterday for a 1700 sq. ft. duplex, listed at $49,900. It’s in a slightly sketchy part of town and it needs some work, but it’d pretty easily rent for $800-$850/month for both sides.
I’d probably […]
Feb
14
Where are All the Good House Flipping Blogs?
February 14, 2007 | 2 Comments
I’ve spent an hour or two this morning in the largely depressing activity of hunting around on the Internet for some good house flipping blogs and other resources to add to a link section here. Unfortunately, not a lot of results to show for that search.
I’m sure I’ll uncover some good sites over time but […]
Feb
14
100% Financing for Investment Properties
February 14, 2007 | 2 Comments
Mortgage guy got back to me with some more options and it looks like we’re going to go with a 100% financed, conventional 30 year fixed mortgage for the 1002 S. Main St. house. The interest rate is pretty ridiculous at 10.25% but that’s pretty much a moot point, given the short amount of time […]
Feb
9
Blah Blah Mortgages Blah Blah Blah
February 9, 2007 | Leave a Comment
Met with the mortgage lender again today to discuss various options as far as the loan on the 1002 S. Main St. property. I get good vibes from him and he definitely understands where I’m coming from and isn’t pushy at all, but I’m getting a little frustrated, as we don’t seem to be communicating […]