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Update for 6/9/2009

June 9, 2009

Juggling lots of houses right now, so thought I’d give a quick run-down on the status of everything going on: House #1: The Corn House We received our second rent check from The Corn House tenants, so at least they’re off to a good start. We also had the tenants check in with our mortgage […]

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Rules for Managing Contractors

June 8, 2009

Managing contractors can be the most difficult part of this business. If you’ve had problems with contractors in the past, or just want to avoid them in the future, take a look at our newest article: 6 Rules For Managing Your Contractors Have any other great rules for managing your contractors that I didn’t capture […]

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House #9: On The Market

June 7, 2009

We finally completed the The Hat Trick House last week and listed it for sale. We’ve been dragging our feet on getting the last 5% of the project completed (staging, trim, paint touch-up, etc), and now that we’re within 6 weeks of being able to sell to an FHA buyer, it was time to get […]

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The Unlucky House

June 5, 2009

We just put House #13 (turned out not to be House #13) under contract! And boy, am I getting lazy with my house names…since this is #13, we’re just going to call this one The Unlucky House and hope that it’s just a name and it’s not reflective of what’s to come… 🙂 While we […]

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Rules for Contingencies

June 4, 2009

In an earlier post, I linked to my article on “What Are Contract Contingencies” and mentioned that I’d be posting Part 2 of that article shortly… Well, here is it: 4 Rules For Using Contingencies Let me know if you have any feedback or anything else to add on the subject!

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House #12: The Mini House

June 3, 2009

We just picked up House #12 this week… It’s in a part of town that we haven’t purchased in before, mostly due to the fact that there is such a surplus of inventory in that area that little is moving and prices are continuing to drop. So, you might ask why I decided to pick […]

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Contract Contingencies

June 2, 2009

In the past year (including last night), I’ve received a number of questions about what contingencies I use in my purchase contracts and how they affect the likelihood of my offers being accepted. I’ve just posted Part 1 of a two-part article on Contract Contingencies in the Education section of the site. I’ll post Part […]

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Advanta Out of Business

June 1, 2009

In my article on “Building Business Credit,” I recommended Advanta Mastercard as great business credit card to use for your business. Their terms were very good, their customer support was great, and their reporting to the credit bureaus would allow you to build credit quickly. Unfortunately, I just got word last week that Advanta has […]

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Offers, Offers, Offers

May 29, 2009

The past couple months, we haven’t put in too many offers on houses. In fact, we’re only averaging about three offers a month since March. Luckily, we’ve gotten two houses in that time – The Deja Duplex and The Sunglasses House – but it could have just as easily been none, and we’d be sitting […]

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House #6: Underwriting Misery

May 28, 2009

We’ve had The Red Garage House under contract for nearly 6 weeks now, and while we were happy that the buyer’s financing was dragging on (we couldn’t close on this one until May 14 anyway due to FHA restrictions), we didn’t want it to drag on this long… The contract expires this weekend, and the […]

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