Live & Flip

Why I passed on two good properties

After a long dry spell, I had a couple wholesalers call me. Both properties would cash flow, both were near my target market, yet I passed on both. They would hurt me more than help me. Its tough to be floating on the ocean surrounded by water. Wait long enough and that salty water starts looking mighty tasty. Take a drink and your demise is only a short time away. Houses are everywhere, just gotta find the ones that help you, not hurt you. These houses simply did not fit into my over...

Good Friends

  The blogging world of real estate is sometimes very small. My wife and I had the pleasure of having dinner with Shae of www.goodfaithinvesting.com. She happened to be in town for a seminar given by Susan Lyons. Its amazing how many ideas can be shared and discussed in two hours. There is nothing more motivating then spending time with people that are making it happen. Shae and her husband certainly fit that category. Oh and by her account the seminar was great and I am kicking m...

Post Slacker

I have been concentrating and finding deals in the last 4 weeks and simply forgot to post on the blog. I was concentrating on the MLS. I have made 20+ bid/calls. I call them bid/calls because my Realtor will call all the prospective listing agents to see if its even worth a bid. For instance, last week I looked in a nice 3/2.5 in a decent owner occupied area. He made the call. 67 walkthrus and 28 bids in 2 days. No point even wasting my time with a property like that. I have noticed th...

Sec 8 rentals

I have had a rather frustrating experience with sec 8 so far. For the most part, the tenants have been good. The entire struggle has been with the Denver Sec 8 office. Rather than focus on that, I will be focusing my energy to avoid the need for sec 8 in the future. That means once again, my properties need to shine. Also, If I have to lower rent to attract non sec 8 renters. It will save me money. Sad, but true. It is a powerful lesson though. Never ever ever allow your business...

Regaining Momentum

Never ever lose momentum.  My wife and I worked day and night on our new home.  We worked till 3am on several occasions.  Getting up at 5am for work was not fun or smart.  But, it was a fantastic learning experience.  I am very glad we went through it.  The problem with doing work on our own house and working full time is time itself.  We used every waking hour.  I dropped everything else in real estate.  I lost all my momentum.  I have been fighting like hell to gain it back.  Never lose mo...

Talk to Strangers

I was riding the bus to the airport the other day and started a conversation with the lady across from me. Its nothing new, I love to chat with folks and hear their stories. I'll be the first to admit, this is very easy for me, but I know other folks have problems talking to buyers, sellers, strangers. As with anything in life, it gets easier with repetition. So here is a way to get better at your nemesis. Start talking to random folks you run into during the day. Here's how you open. Fi...

Busy 3 weeks

I let 3 weeks with no post slip by and did not even realize it. Crazy. I have been doing my coaching items whenever I can fit them in. Life simply took hold and did not give me any free time what so ever. With the help from my folks and brother-in-law I completely redid the landscaping on our yard. Its almost done. Bought 2 dozen plants and 3 tons of mulch. Added a new brick border wall up front, removed those three bushes, removed several trash cans of trash and rose bushes, had the ...

Hired a Coach

I went ahead and hired a Real Estate Coach. I went with the Club Mastermind. I have done the initial setup and will start the program shortly. I will use this to get my Real Estate business off the ground. It will be nice to have a bit of guidance when I need it. It will also be nice to have someone holding me accountable to goals. Not much more to say on this atm. I got a motivated call this week. Unfortunately they want FMV on property thats out in the middle of BFC. The other deals...

2 steps forward 1 back

I went and looked at the motivated seller probate. Has decent equity but needs some work. The seller is willing to sell what he owes for, I simply have no idea what to do with this odd property. I passed it along to another buyer. If it works out, maybe I can get a bird dog fee. As long as someone can help this seller. I have received a few more negative calls. I'm not taking them to well. Its interesting how some folks are very eager to talk to me and others would rather rip my head ...

Beer and Pancakes 2010

I just got back from sunny (rainy) Scottsdale AZ. I justed completed a 3 day seminar that is self run and self hosted by members of the www.thefastlanetomillions.com. Most attendees, including myself, gave presentations. Of course I presented on probate. Topics ranged from big picture business planning to selling fireworks. Overall a very interesting business event. This was my 2nd year to attend. Some of our more successful members gave input on the struggles they have faced. Imagine ...