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House #18: Exit Strategy

September 16, 2010

If you’ve been reading the past week, you know that we have another house under renovation (The Haggle House) and have been trying to determine the appropriate exit strategy for it — Hold As Rental or Rehab & Resell. If you’ve looked at the financial analysis I’ve done for each of these options, you know […]

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House #18: Rehab Plan

September 14, 2010

We closed on The Haggle House yesterday (sorry, no pics yet), and rehab is underway… This should be a very quick and easy rehab — essentially it’s just paint, carpet, replace a few light fixtures, replace a broken pedestal sink, exterior pressure-washing, and a good cleaning. We’ve chosen a darker carpet for this one, in […]

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House #14: Third Contract

September 12, 2010

The Pine House is officially under contract for the third time… As I mentioned in my last post about this house, we haven’t had much traffic through this property since the tax credit expired in May, and the first two contracts we had on the property fell through because the buyers couldn’t get their financing. […]

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House #18: Flip Analysis

September 9, 2010

In my last post, I provided a detailed financial analysis of what we could expect if we were to hold The Haggle House as a rental. In this post, I want to do a quick financial analysis of what our profits would look like if we were to rehab/flip it instead… If you recall The […]

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House #18: Rental Analysis

September 8, 2010

As it appears The Haggle House may be our first long-term rental, and given the questions a couple readers have posed, I wanted to spend this post going through the financial details of this particular rental opportunity… (Note: If you only care about the numbers, feel free to scroll down to the spreadsheet further down […]

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House #18: The Haggle House

September 5, 2010

It’s been a while, but we just put House #18 under contract…it was the house I’ve been discussing in my “Follow the Offer” posts… (full credit to Tom Tarrant for coming up with a great name for this one!) Last Wednesday, I mentioned that the bank had verbally accepted our final offer, after much negotiation […]

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Introduction To IRR

September 2, 2010

If you’re an investor (whether real estate or some other type), I hope you’ll take the time to read the guest blog post I wrote for BiggerPockets.com today: Introduction to Internal Rate of Return (IRR) Every investor — regardless of what they invest in — needs to understand how to calculate their success or failure […]

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Follow The Offer V

September 1, 2010

A few weeks ago, I wrote several posts about an offer that I had made on an REO property. The goal was to give my readers an idea of the back-and-forth we often have with sellers when negotiating purchases and our thinking throughout the process… The last update I posted was back on August 12, […]

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House #14: Update

August 29, 2010

It’s been a while since I’ve given an update on The Pine House… Last I mentioned, we had a second full-price contract on the house with a buyer who was getting funded through NACA. I’m sure I mentioned it at some point (though I can’t find any posts), but because NACA is so backed up […]

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House #1: Refinance

August 24, 2010

I gave an update on The Corn House yesterday, and forgot to mention one thing. I’ve had about a bunch of my own cash tied up in this house for the past two years, and without refinancing my cash out (i.e., using some financial leverage), my ROI on that cash investment is ending up to […]

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