The Most Common Mistake Made by Newbie Real Estate Investors

Do not become a landlord or fix and flip real estate investor without the appropriate reserve funds. Without the appropriate reserve funds you will most likely be adding to our economy’s foreclosure backlog and just become another statistic. Take this advice seriously, it has been learned the hard way by many investors that have come before you. Refer to Murphy's Law. The Perfect Rehab? How … [Read more...]

Check Out Our Latest Rental Property – Another Buy, Fix, and Rent

Nothing Fancy - Just Another REO Purchase This home was a standard REO home listed for $55,000.  We originally offered $35K and came to a final compromise of $38K with the bank.  Once again, our offer was accepted over other higher offers solely on the basis that ours was a non-contingent cash offer. This is the 10th property added to our rental portfolio all of which are in the same … [Read more...]

Estimating Construction Cost – Actual Repair Budget Attached

Construction Repair Budget

Real Construction Budget Estimate The numbers listed below are actual repair costs for a standard bank owned single family home. My partners and I have rehabbed over 50 homes together and we have never been able to achieve the cheap rehab costs as shown on Flip This House and other quick flip home shows. I do know that our costs are in line or less expensive than what other investors pay in … [Read more...]

 
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