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My Strategy From Here

July 18, 2008

A lot of people who have been reading my blog have been asking why I’m focusing so much on single family houses recently when my plan was originally to focus on apartment investing. It’s a good question, and I can understand why those following this blog would be confused…I haven’t really clarified my plans in […]

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Update for 7/17/08

July 17, 2008

I know, not the most creative of blog post titles, but it will have to do… Lots of “fun” stuff happened the past couple days: 1. Met with a couple more banks. While they aren’t going to be able to get me the financing I’d like, I may not be in a position to be […]

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50% Rule for SFH

July 16, 2008

The 50% rule is a rule of thumb to do a very-quick first-pass analysis of a single family investment (rental) property. The rule states that — on average — the total expenses associated with operating a SFH investment will be about 50% of the gross rents. The expenses included in the 50% are things like: […]

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Meeting with the Banks

July 15, 2008

As I’ve mentioned in previous posts, my biggest obstacle to be able to scale my real estate efforts is the difficulty I’ll face in getting loans. I have some cash in the bank, and I have great credit, but without income (I quit my job, remember), it’s very difficult to qualify for loans these days. […]

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House Buying Philosophies

July 14, 2008

I’ve been working with a real estate agent the past couple days who continues to try to sell me a few overpriced duplexes. I’ve tried to explain to her several times my conservative buying philosophy, but it doesn’t really seem to be getting through to her. Today, I received an email trying to sell me […]

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First Offer Dead?

July 11, 2008

It looks like Offer #1 probably isn’t going to close…here’s the latest… I got a call from the agent/wholesaler who is negotiating this offer on my behalf, saying that the bank’s agent has multiple offers and wants a best/final offer from us (this may or may not be true, who knows); I *hate* the best/final […]

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First Offer Questions

July 10, 2008

In yesterday’s post, I discussed the possible exit strategies — and the financial implications of each — for the property I made an offer on the other day. Because this is my first potential deal, I ran it by a bunch of other experienced investors who I knew would provide impartial advice on the deal. […]

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First Offer Details

July 9, 2008

After getting feedback from some other knowledgeable RE folks, I’m not sure that my potential first deal is the right one to start with. While I’ll go into my hesitations on the deal (and the specific feedback I’ve gotten) in more detail in a subsequent post, I wanted to lay out my rationale for considering […]

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My First SFH Offer

July 8, 2008

It’s crazy…I moved here with the intention that I would be focusing on buying apartment buildings, and after putting together a solid business plan, starting to make contacts with other investors, agents, lenders, etc, it looks like the first investment property I buy will be a single family house (SFH). Don’t get me wrong, I’m […]

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Happy 4th of July

July 4, 2008

It’s 4th of July today, and Monday is my birthday, so I’ll be taking the weekend off from writing (and working), and will be enjoying some free time with the family! Hope everyone has a great holiday (and if it’s not a holiday where you are, have a great weekend!)…

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