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House #11: First Offer

July 8, 2009

We officially got our first offer on The Sunglasses House today, despite the fact that we’re still a month away from finishing the rehab… The offer came from our project manager (my brother) and his fiancee, who have been looking for a new home for themselves for several months now. In fact, they’ve put in […]

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Questions? Topic Suggestions?

July 7, 2009

Hey everyone… First, for everyone who has provided great feedback and compliments on the site (through comments, emails, etc), let me say a very sincere THANK YOU! The goal of this site is to provide “in the trenches” information on rehabbing and flipping; stuff that you might not find by buying a course or sitting […]

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Question of the Day: #1

July 6, 2009

I received a great question the other day from one of my readers: I have a question for you – how do you determine the finish level of the flooring for your houses? I have a pretty good handle of the finish level for most of the house I am offering on, but I’m really […]

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House #9: Price Reduction

July 5, 2009

I’m thrilled to say that in all the time we’ve been doing this, we’ve yet to have to reduce the list price of a house that we’ve put on the market. But, unfortunately, that streak came to an end this weekend… We dropped the list price on The Hat Trick House from $109,900 to $99,900. […]

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House #6: 3rd Appraisal

July 3, 2009

As mentioned the other day, The Red Garage House is going through its 3rd appraisal… The appraiser came out to the property on Thursday morning, and spent about an hour making sure things worked, taking measurements, taking pictures, and asking questions. We chatted about the renovations we did, he asked about the cost of the […]

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Rehabs, Inspections, Rehabs

July 2, 2009

Renovations are well underway on both The Mini House and The Sunglasses House, and I’m happy to report that a week in, both projects are still on-schedule and on-budget. We actually had an interesting experience today over at The Sunglasses House…a county code enforcement inspector (the same inspector we had for The Second Chance House, […]

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House #6: The Saga Continues

July 1, 2009

In a recent post, I mentioned the continued underwriting drama surrounding The Red Garage House. I was pretty angry when I wrote that post (specifically about the mortgage broker incorrectly ordering the appraisal), but I’ve quickly transitioned from pissed off to a state of complete apathy over this particular deal. In fact, it’s so ridiculous […]

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House #12: Officially Ours

June 30, 2009

We closed on the purchase of The Mini House today… After last week’s last-minute fiasco of finding out the house was in a floor plain, we spent two day scrambling to get surveys, elevation certificates, and flood insurance. In the end, the news was actually pretty good. While the entire area was moved into a […]

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Building a Buyers List

June 27, 2009

Starting out in real estate a relatively short time ago, it’s been reassuring to find other investors out there who are also working to build their businesses and become successful investors in the face of tough economic times and a tough real estate market. One of those people is Scott Costello, an up-and-coming wholesaler out […]

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Update for 6/26/2009

June 26, 2009

Here’s my end-of-the-week update on all our houses…it’s a quick one, but after this long, long week, I don’t have a lot of energy to write… House #1: The Corn House Nothing new with this house…just looking forward to collecting our third (on-time) rent check… House #6: The Red Garage House I’m so angry that […]

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