From the category archives:

Rehab Tips

Staging Tips (Part 1)

April 12, 2009

My wife has been doing all the staging for our houses these past eight months, and has become incredibly good at it (see for yourself). Not just making a house look amazing, but doing it in such a way that is both inexpensive and easy to manipulate.
Now that I’ve seen her stage six houses, [...]

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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 [...]

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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 going [...]

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Tip: Contractor Parties

March 11, 2009

Here’s a quick tip that I just started implementing, and I have a feeling it’s going to work out well…
I spend way too much time meeting contractors at my houses to get bids. For the most part, I use the same contractors over and over, and with an average of 10 or so contractors [...]

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Calculating Fixed Costs

February 26, 2009

I posted yesterday about my formula for determining whether or not I consider a flip project to be worth undertaking. In my formula, I referred to “Fixed Costs” and I mentioned that my Fixed Costs for a recent project were about $17,000. I quickly received a comment asking for more detail around that [...]

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Evaluating a Flip

February 25, 2009

I’ve had countless newbie investors ask me how I decide whether or not to take on a flip project. For the most part, what they’re asking is, “How do you know if (financially) the numbers work out in your favor?”
Most investors have some quantitative analysis technique for determining whether to pursue a project or [...]

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Tip: Estimating Rehabs

January 22, 2009

In an earlier post, I wrote about the basic steps you’ll likely take as a new investor to get your first deal through closing. As part of that post (step #7), I suggested getting a contractor to the property to help you put together an estimate of the rehab costs. In the past [...]

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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 [...]

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Tip: Document Checklist

December 16, 2008

In yesterday’s post, I discussed the process I go through every time I get a house under contract. Documenting and following a clear process allows me to get accustomed to a routine, and also allows me to delegate the routine to others who may not be as familiar with the business as I am. [...]

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Tip: Acquisition Checklist

December 15, 2008

As I’ve mentioned numerous times, one of the big goals of my business is to scale to the point where — despite only making $15-25K per house — we should be able to earn a significant annual income. To do this, I focus a lot of energy on creating systems and processes, and documenting [...]

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