Want to a document that will help you comprehensively estimate what it will take to rehab a property? Get yours here! http://www.brownstonerg.com/repair/
Want a document that will help you comprehensively estimate what it will take to rehab a property? Get yours here! http://www.brownstonerg.com/repair/
This time we have discussed about High Volume Flipping Houses with our special guest, Julie Karvelis. During discussion with her, she shares her fear of leaving her job in 2006 and thought of becoming a full time investor in real estate. Over the past several years Julie successfully flipped over 100 houses by transforming one house at a time.
Join the community of smart investors with us and learn various techniques to develop your real estate skills.
How Julie’s birthday gift to herself set her path forward
How to successfully build a reliable contracting team to work on multiple houses at the same time
Julie’s signature touches on opening up layouts, creating nice outdoor spaces and selecting the right finishes buyers love
Finding your price point to maximize profit margins
Kitchen designs that don’t break the bank really pop and get houses sold!
The importance of multiple streams of income
The importance of having a spouse who understands the big-picture of investing and supports the goals they are working towards
In this video flipping homes expert Steve Cook begins a walk through of one of his latest “full cosmetic rehab” projects, detailing his investment strategy, estimated rehab costs and expected profit.
Dinesh N. From Kansas Sent In Another Testimonial And Shares Some Exciting News…He Just Had His First Money EVER In Real Estate Making Over $30,000!
Clever Investor mentoring student Dinesh N. from Kansas shares his experience within the Clever Investor real estate investing mentoring program. There are only 3 things you need to be successful as a real estate investor.
1) Have a great attitude. The story you tell yourself about money, business, relationships, family etc. is so important. Surrounding yourself with positive, like-minded people is vital to your success.
2) Have focused, purposeful determination. The actions that you take to achieve your goals is paramount to your success. Having the ability to time-block, say “no” to distracting opportunities, and get focused will determine “if and when” you feel progress.
3) Have a proven strategy. Why re-invent the wheel when there are smart, successful real estate millionaires that paved the way before you. Having a mentor in your life that has “been there and done that” will save you years of trial and error and unlimited money and stress.
If you are interested in learning how Clever Investor can help you with all 3 of these vital attributes we invite you to visit:
Mentoring – http://www.CleverInvestorMentoring.com
Main Website – http://www.CleverInvestor.com
Get The COMPLETE 18 Hour program FREE!
REI Autocomp Version 15 LAUNCHED! Flipping Houses Just Got Easier!
#1 – New Navigation
#2 – Log In Icon Button Linked to Your Computer License
#3 – Strategy Selection Drop Down
#4 – Report Date
#5 – Images From Google and/or Zillow
#6 – Instant PPSF Repairs Calculator
#7 – Drop Down Box For No. of Stories Selection
#8 – Change Rows Color Pink
#9 – Highlight Base Factor Selection
#10- New “Property Homogeny” Charts Dials
#12 – New & Improved PDF Reports
#13 – New Algorithym
#14 – A,C,D – Auto Replace Selection Above
#15 – Double Click To Select Comps and Replace with “X”
Get your copy today: http://www.reiautocomp.com
Randy – The REI Rockstar
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Check out www.RentFaxPro.com today to find out your property RISC™ score! Predict and compare how demographics, crime, schools, and other location-based data affect your residential investment property risk.
The RISC™ (Rental Income Stability Composite) index is the nation’s only location risk score for residential income properties. In communities across the United States, our proprietary data analytics offers a fast and simple metric for the relative impact that demographics, crime, schools, and other location-based data have on your residential income property investment risk.
I wanted to put together a quick video for those investors that are buying homes with the intent or purpose to resell them to an owner-occupied person or a regional flip sometimes they’re called. There’s a misconception that RentFax is strictly for the use of long-term hold rental property and that’s not accurate. As a matter fact many of our clients are not property owners themselves but property managers lenders insurance companies, crowdfunding and hedge funds… anyone that touches real estate investment property whether it be for flipping, long-term hold, or other purposes.
I’m going to you quickly walk through four examples if I was a flipper… of some critical pieces the information you’ll want to be aware of, because despite quality at the asset or the home and the amenities that you put into the home, if the home is located in a neighborhood with a demographic that doesn’t support your in strategy for investment, despite all your efforts in creating a beautiful home and the audience will not be there to support your success.
On this first property what we see here is the first page of a RISC detailed report As we can see the score is in the lower or end of the stability spectrum, or below 20 so who as a rental property this indicates a low likelihood up income stability when as any flipper what is mean this particular my location was of interest to me because the home was a new built and there was a beautiful looking home not very reasonably priced had a lot positive attributes to lead when reviewing it what we discovered and brought to the attention of the prospective investor is a fairly critical makeup of the neighborhood. That being that the predominant housing type in a neighborhood was apartment complexes in not single-family homes. And so the audience of which would be attracted to that demographic for single-family home purchase may be lower.
This next example is a property that scored a 32, so we are moving up in the RISC index, and we can see when we at this particular property is located in Fort Myers the prior one was in Houston. When we look at this 32 score we can see that there’s a more of a blend of single-family home so that’s good… so they’re will be higher audience of potential homeowners or single-family homes. Now we also want to pay attention to the occupancy of that make up – in this particular case just short of two-thirds the population in this neighborhood are owners of their homes versus renters, so we’re trending in the right direction if our exit strategy or investment strategy is a flip.
This particular neighborhood is a great neighborhood to go in if your strategy is a lease-purchase. I always hear flipper say… well if I can’t sell it then I’m going to rent it. Well that only works if you’re in a neighborhood where
Renters are interested and where renting a property is financially feasible.
In this final example I wanted to show you a situation where it was a great neighborhood insofar as being very stable and attracting owners…. this particular one being in Georgia. You can see its scoring in the dark green and the eighties, and what we find here is that we have a strong concentration single-family homes, so that’s good if we are flipping this single-family home. And the corresponding ownership rate in this particular neighborhood was strong as well at almost nearly 90 percent. But look how low the renter percentage is at 10 percent. So in this particular neighborhood in the event that the flipper says what I can’t sell it I’ll rent it or move into it or lease-purchase the likelihood is attracting runners to this area in a financially viable situation or financially feasible -meaning that you won’t be in a negative cash flow situation drops.
As a flipper I can use RentFax in the risk index to help make better decisions on the neighborhood’s that are optimal for my strategy, avoiding high quality assets in neighborhoods that have demographics that don’t support or attract homeowners – as we saw in the first example. Or in the next two examples we saw neighborhoods that will work support potential home ownership, but also can offer good options for lease-purchase or renting if that property didn’t sell quickly. And the fourth and final sample is a strategy where your sole and dedicated purposes to sell the property.
Ride along with kris haskins to see how to buy a foreclosed house at the courthouse steps. This is my favorite way to buy a house because huge amounts of equity is created in minutes with the foreclosing trustee sale. The home owner hasn’t paid their mortgage and now the home is auctioned off to the highest bidder unless the opening bid is too high, then the bank just takes it back…
We Buy San Diego Houses, SDHouseBuyers.com. This house was a Probate Sale. The owner wouldnt let anyone in to see it so many investors hesitated. I gained access after buying him beer and cigarettes. It was a drug house with surveillance cameras and hidden compartments cut into the walls. We pulled out drug paraphernalia boxes hung down into the walls by string. House had Missing windows and drywall throughout. Rats went running across our feet when we demo’ed the kitchen cabinets. The worse the condition, usually means, the more money you can make: ) I remodeled this house while working a 9-5 job. A lot of late nights and long weekends. Have Fun and Happy Investing! We Buy Houses San Diego