1-2-3 Flip : Page 62

Update for 4/10/2009

April 10, 2009

Wow, so much going on, and not enough time to write…looks like this is going to be another overall update to bring everyone up to speed: House #1: The Corn House The Lease Purchase tenants at The Corn House moved in last week, and sent us a very nice email just the other day. They […]

5 comments Read the full article →

FHA 90-Day Rule (Part 2)

April 9, 2009

I wrote earlier in the week about the FHA 90-Day Rule, and how it can affect house flippers. Well, there is some additional info that I didn’t include in that post that is very relevant…the reason I didn’t include this in the first post is that I wasn’t aware of it until today. Here are […]

12 comments Read the full article →

My Bank Went Under!

April 8, 2009

Luckily, this won’t have much of an impact on my business, but one of the two lenders I’ve been using to finance my properties just ended up as the 21st bank in the U.S. to fail in 2009! The reason it shouldn’t have much affect is that I’ve primarily been using a different lender for […]

6 comments Read the full article →

House #7: Second Offer

April 7, 2009

We just got our second offer on The Roach Duplex (which again, is no-longer a “roach duplex”)… While a little bit weird, it was a full-price offer. The weird part of the offer is: – Buyer is requesting 7 days due diligence – Buyer has a financing contingency – Buyer has an appraisal contingency While […]

4 comments Read the full article →

House #5: Appraisal Time

April 6, 2009

Okay, I must admit, I’m a little bit worried about the bank’s appraisal for the sale of The DIY House… The buyers are getting a VA loan, and the appraiser came out today. I met him at the house, and was hoping to walk away confident that the appraisal would come back well above where […]

12 comments Read the full article →

House #9: The Hat Trick House

April 5, 2009

We just got what-might-be House #9 under contract. It’s the third house in a row (hence the name) that we’ve bought in the same small neighborhood, along with The Red Garage House and The 16-Bid House. The layout is almost identical to the other two houses, with just some minor differences. For example, The Red […]

2 comments Read the full article →

House #6: Final Pictures

April 3, 2009

As promised, here are the final pictures from The Red Garage House (minus a final garage picture, unfortunately)… I’m thrilled with how well this house turned out, and the staging makes it look 10x better. We’ve listed the property about $10K above what we had planned, in hopes that we can get a better-than-expected offer […]

15 comments Read the full article →

House #6: Rehab Complete

April 2, 2009

Yes, that’s right, rehab is complete two days after my post that The Red Garage House is on the market… As I mentioned in that post, we still needed a double window replaced, and still needed the staging complete. Well, yesterday the window got replaced. And today the staging got completed… We were hesitant to […]

0 comments Read the full article →

House #6: On The Market

March 31, 2009

The Red Garage House is now officially on the market. Not that the rehab is complete, but that’s just a minor detail… Seriously, we still have one major rehab issue to complete — one of the double windows in the living room is broken and has been on order for several weeks now; we’re hoping […]

3 comments Read the full article →

FHA 90-Day Rule

March 29, 2009

[Note: If this rule applies to your business, you probably want to read Part 2 of this post as well…it has more relevant information that you will likely find important.] I’ve mentioned numerous times throughout this blog the FHA 90-Day Rule, but since I still get questions about it, I wanted to spend a post […]

9 comments Read the full article →

← Previous Entries

Next Entries →