From the category archives:

Rehab Tips

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 number, so […]

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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 two days, […]

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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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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. In […]

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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 those […]

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Tip: Better, Faster, Cheaper

November 30, 2008

Back when I was in the technology industry, we had a popular saying: “Better, Faster, Cheaper — Pick 2“… Basically, the idea was that you could build something at higher quality, in less time, or for less money, but not all three of those. At best, you could could optimize for two of them, in […]

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Rehab Tip: Materials Discounts

October 2, 2008

One of the big advantages I believe I have in this business is that I am planning to scale quickly; if leveraged properly, that scale should provide me the ability to attract good team members, good deals, and good discounts. This week, I realized that leveraging that scale for good discounts may be even easier […]

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Rehab Tip: Types of Contractors

September 9, 2008

As part of my blog, I’d like to start relaying tips and tricks I’m learning for those who are house flippers or those who are interested in getting into house flipping. This will be the first in that series of blog posts, and if you have any feedback (or want me to cover any specific […]

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