It’s easy to feel a bit anxious that a bad choice for kitchen countertops will have homebuyers and realtors avoiding your fix & flip property like the high school wallflower, especially if you’ve seen the latest waves in beautiful kitchen design. On the other hand, following the latest trend in countertops can be a pricey decision, even if you have insider access to discounts. How can real estate investors make attractive choices that sell, at a reasonable cost? Nowadays countertop manufacturing technology is over-shadowing even granite. Evaluating the pros and cons of quartz, silestone, glass, ceramic tile, marble, wood, as Read more…

If you’ve read my blog post ”4 Critical Reasons To Use Direct Mail”, you may be wondering how to start using direct mail to find your below-market real estate investment opportunities, as well as how to manage your mailing lists. First, identify the target area you want to receive your direct mail. Second, create your flyer, deciding on the format, material, the color of the paper and the layout and fonts. And, of course, design the content. Your audience isn’t likely to be sophisticated about real estate or finance, so keep it very basic and to the point! There are Read more…

If you’ve read my blog post ”4 Critical Reasons To Use Direct Mail”, you may be wondering how to start using direct mail to find your below-market real estate investment opportunities, as well as how to manage your mailing lists. First, identify the target area you want to receive your direct mail. Second, create your flyer, deciding on the format, material, the color of the paper and the layout and fonts. And, of course, design the content. Your audience isn’t likely to be sophisticated about real estate or finance, so keep it very basic and to the point! There are Read more…

Good rental properties are an important part of a real estate investment portfolio that allows you to earn while you play, vacation and spend time with your family. But before you buy a rental investment property, what are 3 key financial moving targets that you wouldn’t normally review for a fix & flip? Property taxes. Don’t stop at checking the tax assess or record for both past and current yearly taxes. Also look up articles in the local press and find out what may be coming in the way of future increases. o A slightacross-the-board increase in the local property Read more…

Good rental properties are an important part of a real estate investment portfolio that allows you to earn while you play, vacation and spend time with your family. But before you buy a rental investment property, what are 3 key financial moving targets that you wouldn’t normally review for a fix & flip? Property taxes. Don’t stop at checking the tax assess or record for both past and current yearly taxes. Also look up articles in the local press and find out what may be coming in the way of future increases. o   A slightacross-the-board increase in the local property Read more…

I’ve mentioned numerous times that I’ve found many real estate investing opportunities through direct mail. Of course I do a good deal of business through foreclosure auctions, and I search the classifieds to find fixer-uppers to buy. But I want to talk to you more about direct mail, what it is and how it works. Why should you add direct mail to your arsenal of real estate investment tools? You may be wondering – is direct mail the junk mail I find in my mailbox? The answer: Yup, that’s what it is. So why should you look into this? One Read more…

You’ve worked this rehab property into a beautiful home and have found a buyer at a price you both like. But the sale contract negotiation is not the final make-or-break point for closing this deal. If you’ve already been working closely with a general contractor on a great rehab, what’s left to worry about with the home inspection? Don’t expect any help from the home inspector to sell a great rehab.Home inspectors are not motivated to help the house sell. In fact, in states where they can be sued for problems found after the homebuyer moves in (and in areas Read more…

In Part 1, I describe how the Broker’s Price Opinion (BPO) is evaluated and submitted to the lender as part of the short sale process.We are assuming that in most cases the BPO has not taken full account of the property’s true physical condition. The BPO will undoubtedly reflect a broker/realtor’s wish to sell for as high a price as possible. What can you do at this point to correct an inflated BPO, so the lender will approve your purchase at the below-market price you need for a successful project as a flip, wholesale or rental investment? Since you’ve done Read more…

Let’s assume you used this rehab property’s significant foundation problems to knock down the purchase price, but are now re-figuring your costs and project plan. Maybe you either didn’t catch or underestimated some of the big issues and costs before purchasing. Or, perhaps you bought it with full knowledge of the foundation condition, but are thinking of wholesaling or otherwise disposing of the property without putting any work into it. What are the ramifications of listing for sale any property without first fixing the foundation issues? Disclosure. Obviously a bad foundation is a major item of required disclosure. Check on Read more…

This post is for investors who are still new to short sales, but who already have a brief introduction by reading my blog posts: How to Invest in Short Sales Short Sales Fundamentals The key that turns the lock on a short sale is the BPO, or Broker’s Price Opinion. Unfortunately, the initial BPO is often both unrealistic and too high for you to make this a successful project. As a flipper, rental investor or wholesaler, what should you do once an over-sized BPO is on the desk of the lender’s property evaluator? Lenders don’t order a full appraisal on Read more…