Does Your Finished Fix and Flip Say “Pow!”? My brother, Curtis, needed a suit. And since he was a 25-year old news cameraman residing in Phoenix, Arizona, his closet was devoid of any fashionable formal wear. Our family was about to embark on a 7-day/night cruise to the Mexican Riviera. One of these evenings on the ship would be spent sipping champagne and dancing in the ballroom. If Curtis showed up in a t-shirt, shorts and flip-flops to the captain’s party no doubt access would be … [Read more...]
Fixing and Flipping Houses: A Business or a Job?
August 16, 2012 By Leave a Comment
Fixing and Flipping Houses: A Business or a Job? Here’s an important question for you – is this fixing and flipping houses thing going to be your business or an odd job? In other words, are you going act like a business owner and hire employees to perform the work associated with rehabbing the house, or are you going to hire yourself to do everything?I believe it should be every fix and flippers goal to work on their business, not in their business. My partner and I don’t demo, paint, … [Read more...]
Fixing and Flipping: Determining Target Price Point
May 31, 2012 By Leave a Comment
Fixing and Flipping: Determining Target Price PointThe G.I. Joe Jet. Man, did I want that toy. I remember my friend Robby and I drooling over it at the department store the summer of 1984. Together we owned every other figurine and vehicle in the collection – from the Ninja to the Jeep. Unfortunately, we never acquired the Jet. At $20 the target price point was too high. By the time we had enough cash to buy it we had moved on to a more expensive hobby – BMX racing bikes.The cash in your … [Read more...]
Fixing and Flipping in Harold’s Hood
May 24, 2012 By Leave a Comment
Fixing and Flipping in Harold’s HoodHarold grew up on the southside of Phoenix. Give him an address in zip code 85041 and he can tell you the size of the house and the year it was built. Name a street corner or intersection and he’ll recite a historical event that took place there, back to 1950.Needless to say, Harold knows his neighborhood.After the market crashed in 2008, he started buying houses in zip codes, 85040, 85041 and 85042 for $20,000 – $30,000. These were major rehab projects, … [Read more...]
Door Knocking, Direct Mail and New Markets for Real Estate Investors
April 27, 2012 By Leave a Comment
Door Knocking, Direct Mail and New Markets for Real Estate Investors“Hello, my name is Marty. The company I work for asked me to drop by today to see if you’d be interested in selling your home. No? Well, if you change your mind, or perhaps you know someone in the area that would like to sell, please take my card and this information about our company. Thank you.”From 2004-2006, I used a variation of this script to knock on 60-80 doors every weekend. I was very strategic about the doors … [Read more...]
How To Fix Up Properties For Maximum Curb Appeal And Resale Value – Part 3
February 16, 2012 By Leave a Comment
How To Fix Up Properties For Maximum Curb Appeal And Resale Value – Part 3By now, you already have an idea of what is a fix-up plan and how to deal with contractors from Parts 1 & Part 2 of “How To Fix Up Properties For Maximum Curb Appeal And Resale Value“. So what’s next…..Give The Property An Industrial Strength CleaningThe first step in the property fix-up phase is [...]Read the full post here... … [Read more...]
Buy & Hold Investor Graduates To Rehabbing For Profits
February 8, 2012 By Leave a Comment
Buy & Hold Investor Graduates To Rehabbing For ProfitsAs a woman investor with no experience, in Fixing and Flipping real estate, I knew that I needed good solid advice when I decided to Fix and Flip as an alternative real estate strategy.Experienced Investor First Hires a MentorThe experience I had with real estate for the past 12 years was buying and holding properties. [...] Read the full post here... … [Read more...]
Fixing and Flipping: It’s a Numbers Game
December 15, 2011 By Leave a Comment
Fixing and Flipping: It’s a Numbers GameTo help in the Success of Your Real Estate Investing By Fixing and Flipping there are a few steps that you need to make sure get done:You can’t polish a turd. That’s what my Dad said to me. One thing I’ve learned from being in the fix and flip business is that you may not be able to polish a turd but you can put lipstick on a pig. And in certain cases some extremely expensive mascara and cover-up. Currently, I have six houses on the books, … [Read more...]
Big Fix and Flip Mistakes In Real Estate
December 1, 2011 By Leave a Comment
Big Fix and Flip Mistakes In Real EstateSince 2009, I’ve flipped 59 houses. And unfortunately, I’ve made the same mistakes multiple times on several of them. Why? Because fixing and flipping is not an exact science. I’ve had some time to reflect and came up with the four biggest mistakes I’ve made as a fix and flipper. Here they are, in no particular order:Overestimating the value of a property Over remodeling the property, Under remodeling the property Underestimating the … [Read more...]
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