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Flipping in 2009 (Part 1)

January 14, 2009

I’ve been thinking a lot recently about what it takes to be a successful flipper in today’s market. It’s certainly different than it was a couple years ago (even a year ago!), but I’m convinced that if you’re diligent, analytical, and careful, it’s still possible to make a lot of money flipping properties in most […]

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Thinking About Rentals

January 13, 2009

As I mentioned in my 2009 Goals, it’s time to diversify our business model a bit and start accumulating some property to build longer-term cash-flow and to reap the benefits of future appreciation when the markets turn. We’re certainly not giving up flipping houses — we just love the idea of a alternate exit strategy […]

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House #3: Open Houses

January 12, 2009

The Second Chance House went on the market last weekend, and by all appearances, the timing was pretty good. It seems that this weekend (just ended) was huge for Open Houses. In fact, many of the near $1M homes in my subdivision that have been on the market since we moved here (8 months ago) […]

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Sign of the Times

January 10, 2009

My brother sent me this article today… With such a slow December, I was wondering if foreclosure activity in my area was waning, but it appears that it was just piling up instead. Nearly 1000 foreclosures in one month in my county (a suburb of Atlanta)! While I’ve yet to attend a foreclosure auction on […]

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My Real Estate Blogroll

January 8, 2009

I read a lot of blogs and websites… When I was in the tech industry, I probably kept up with about 200 blogs on regular basis (and I wonder why I worked so many hours?!?). But it was necessary to keep up on the trends, the people, and the strategies that were driving the industry. […]

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Hiring an Employee

January 7, 2009

As I mentioned yesterday, it’s time for me to convert my contractor to a full time employee. I decided to devote the full day to focusing on that task, expecting it to be a long, complicated process. While there are a number of things that must be done when hiring, it’s not as complicated and […]

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New CPA

January 6, 2009

I wasn’t very happy with the CPA that I had been consulting for the past 8 months (which is disappointing considering the 3-part post I write on finding a good CPA). He didn’t seem to be exceptionally knowledgeable about the real estate issues I’d be facing, he wasn’t an investor himself, and frankly, I got […]

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Tip: Your First Deal

January 5, 2009

I have had many people ask me how to go about evaluating their first deal. Whether they should do their inspections before getting the property under contract, how they can determine repair costs, how to find contractors, etc. And considering it was less than a year ago that I was doing this all for the […]

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House #5: Some Details

January 3, 2009

As I mentioned before the holiday, we have another house that we’re ready to pick up. The DIY House is (finally!) officially under contract, and we’re hoping to close the middle of this month. Here are some pictures… The house is a 3/2 split-level with a large eat-in kitchen, separate dining room and large open […]

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Goals for 2009

December 30, 2008

It’s hard to believe that we’re already done with 2008. It seems like just yesterday that I was writing my 2008 goals, and looking back, it amazes me that we were able to accomplish as much as we did in 2008. I’ll go into more detail on our 2008 success (and goal reaching) in another […]

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